A Flexible Test for Present Bias and Time Preferences Using Land-Lease Contracts

When agents have present bias, they discount more between now and the next period than between period t (> 1) and t + 1. How fast the future discount rate (evaluated today) decays is an empirical question. We show that the discount function can be non-parametrically identified with contracts that specify payments that take place at various points in time in the future and which are traded and priced in a competitive market. We use a unique land lease-contract data set for Amsterdam, which has the above properties, to test for present bias in a flexible way. We find no evidence for present bias in this market. Even though we allow for a general-hyperbolic specification (which has exponential discounting as a special case), our estimates converge to an exponential discount function with a corresponding discount rate (in our baseline specification) of 8 %.present bias, hyperbolic discounting, discount rate, hedonic estimation

Called to do meaningful work:A blessing or a curse?

Two groups of people are particularly inclined to mention a calling when talking about their work motivation: those who are spiritual (because the concept of calling originated in the religious realm) and those in serving occupations (such as hospitals, schools, and nongovernmental organizations). Because Christian professors are in both groups, the concept of calling is likely to emerge. In this article, I trace the development of calling as a concept of work motivation from its traditional religious origin to its daily use in organizational scholarship. Several positive sides of callings are described, as well as the potential downsides that come with high aspirations. At the end of this exploration, I conclude with three practical suggestions for Christian professors and educators who live out a calling. This paper explores what it means to have a calling as a professor, and the different facets of such a calling. On the one hand, having a personal calling is seen as a way of having a meaningful working life. Researchers who have focused on the topic of calling have documented that awareness of one's calling contributes to intrinsic motivation, job satisfaction, and greater determination (see Duffy & Dik, 2013, for a review). From that perspective, it seems to be very beneficial to have a calling. Similarly, professors and teachers often mention that they feel called to follow their vocation, which gives their work meaning. On the other hand, having a calling can be a stressful experience. Most often, the goals pursued by someone with a sense of calling, which comes from afar, are hard to accomplish. They make individuals reach for higher ground, and this realization can make people suffer. Having a meaningful life is by no means a guarantee for a happy life (Baumeister, Vohs, Aaker, & Garbinsky, 2013). Some key differences between a happy life and a meaningful life. Viktor Frankl (1984) made the point in Man's Search for Meaning that burning is often required in order to give light. In a recent review of the literature on calling, Gazica and Spector (2015) stated that having no calling is preferable to having an unmet calling. So, answering a calling can be seen as having both inspiring and troublesome elements, a double-edged sword (Bunderson & Thompson, 2009). Two groups of people are particularly inclined to mention calling, namely those who are spiritual (because the concept of calling originated in the religious realm) and those in serving occupations (such as hospitals, schools, and nongovernmental organizations). Being a member of either group means that the concept of calling is likely to emerge. Christian professors comprise such a group. Those who choose to invest their lives in educating the next generation often experience a calling; if not, they may well have to account for its absence given the expectations of other people that they have one. In this article, I reflect on some underlying dynamics of a calling using a range of sources from organizational sciences, philosophy, and practical theology. The aim of this reflection is to aid Christian teaching professionals to benefit from the positive side of calling while avoiding the pitfalls. The article is structured in three parts, with the first providing a definition of the concept of calling. In the second section, the tensions that come with a calling are explored. Finally, suggestions for Christian teaching professionals are offered, based on this elaboration of calling dynamics

The combined honours student experience survey data and the perceptions of staff and students

Data analysis from the University Student Survey (2016) at Canterbury Christ Church University revealed that combined honours students (n=780) were less satisfied than single honours students. The qualitative comments of the students referred to concerns about identifying with and belonging to the programme; and self confidence. In addition, on one programme (n=89), combined honours student were less satisfied than their single honours classmates on 18 of the 22 USS satisfaction measure statements. Three focus group with staff on this programme (n=18) and interviews with students (n=8) were undertaken to investigate the issues of lack of satisfaction further. This paper will report on the ongoing investigation and the potential development of learning and teaching interventions

On-the-Job Search and Sorting

We characterize the equilibrium of a search model with a continuum of job and worker types, wage bargaining, free entry of vacancies and on-the-job search. The decentralized economy with monopsonistic wage setting yields too many vacancies and hence too low unemployment compared to first best. This is due to a business-stealing externality. Raising workers’ bargaining power resolves this inefficiency. Unemployment benefits are a second best alternative to this policy. We establish simple relations between the losses in production due to search frictions and wage differentials on the one hand and unemployment on the other hand. Both can be used for empirical testing.

What Explains the Variation in Estimates of Labour Supply Elasticities?

This paper performs a meta-analysis of empirical estimates of uncompensated labour supply elasticities. We find that much of the variation in elasticities can be explained by the variation in gender, participation rates, and country fixed effects. Country differences appear to be small though. There is no systematic impact of the model specification or marital status on reported elasticities. The decision to participate is more responsive than is the decision regarding hours worked. Even at the intensive margin, we find that the elasticity for women exceeds that for men. For men and women in the Netherlands, we predict an uncompensated labour supply elasticity of 0.1 and 0.5, respectively. These values are robust for alternative samples and specifications of the meta regression.labour supply, meta-analysis, uncompensated elasticity

Spirit(ed) away: preventing foetal alcohol syndrome with motivational interviewing and cognitve behavioural therapy

Foetal alcohol syndrome (FAS) is a growing concern in South Africa. In the Western Cape, prevalence rates for FAS are the highest in the world. Not surprisingly, the Western Cape also has some of the highest levels of alcohol consumption per capita. Although FAS is primarily caused by alcohol consumption during pregnancy, the high rate of FAS in South Africa originates from a multitude of complex factors. These factors include heritage, poverty, high levels of unemployment and low-paid menial jobs, depression, low self-esteem, low self-efficacy, increased accessibility to alcohol, lack of recreation, poor education, familial pressure, denial, cultural misconceptions and the smaller physiques of some of the women in the Western Cape. Holistic and comprehensive macro- and micro-level approaches are necessary in order to change the alcohol consumption trend that has developed over the last 300 years. No single strategy will reduce or eliminate the burden of alcohol misuse in this society. However, as the presented discussion suggests, combining the spirit of motivational interviewing (MI) with cognitive behavioural therapy (CBT) practice, borrowed from health psychological interventions for lifestyle-related chronic health conditions, holds promise for reducing the prevalence of FAS within Western Cape communities. These individual-based approaches have yet to be employed in South Africa despite the wealth of evidence that demonstrates their potential in targeting high-risk groups and reducing per capita alcohol consumption

Spirit(ed) away: preventing foetal alcohol syndrome with motivational interviewing and cognitive behavioural therapy

Foetal alcohol syndrome (FAS) is a growing concern in South Africa. In the Western Cape, prevalence rates for FAS are the highest in the world. Not surprisingly, the Western Cape also has some of the highest levels of alcohol consumption per capita. Although FAS is primarily caused by alcohol consumption during pregnancy, the high rate of FAS in South Africa originates from a multitude of complex factors. These factors include heritage, poverty, high levels of unemployment and low-paid menial jobs, depression, low self-esteem, low self-efficacy, increased accessibility to alcohol, lack of recreation, poor education, familial pressure, denial, cultural misconceptions and the smaller physiques of some of the women in the Western Cape. Holistic and comprehensive macro- and micro-level approaches are necessary in order to change the alcohol consumption trend that has developed over the last 300 years. No single strategy will reduce or eliminate the burden of alcohol misuse in this society. However, as the presented discussion suggests, combining the spirit of motivational interviewing (MI) with cognitive behavioural therapy (CBT) practice, borrowed from health psychological interventions for lifestyle-related chronic health conditions, holds promise for reducing the prevalence of FAS within Western Cape communities. These individual-based approaches have yet to be employed in South Africa despite the wealth of evidence that demonstrates their potential in targeting high-risk groups and reducing per capita alcohol consumption.Keywords: foetal alcohol syndrome, preventative health, spirit of motivational interviewing, cognitive behaviour therapy, Western Cap

Identifying present bias and time preferences with an application to land-lease-contract data

What can contracts-traded and priced in a competitive market and featuring a prespecified system of future payments-teach us about time preferences and present bias? We first show that identification of present bias requires assumptions on the felicity function and that agents must have credit constraints on consumption expenditure. Moreover, when there is heterogeneity in present bias, identification requires that agents with the same present bias parameter buy houses with different contracts. We illustrate our findings with observational land-lease-contract data from Amsterdam