On the stability of risk preferences: Measurement matters.

We exploit the unique design of a repeated survey experiment among students in four countries to explore the stability of risk preferences in the context of the COVID-19 pandemic. Relative to a baseline before the pandemic, we find that self-assessed willingness to take risks decreased while the willingness to take risks in an incentivized lottery task increased, for the same sample of respondents. These findings suggest domain specificity of preferences that is partly reflected in the different measures.

Life cycle patterns of cognitive performance over the long run.

Little is known about how the age pattern in individual performance in cognitively demanding tasks changed over the past century. The main difficulty for measuring such life cycle performance patterns and their dynamics over time is related to the construction of a reliable measure that is comparable across individuals and over time and not affected by changes in technology or other environmental factors. This study presents evidence for the dynamics of life cycle patterns of cognitive performance over the past 125 y based on an analysis of data from professional chess tournaments.

The demographic dividend is more than an education dividend.

The demographic dividend has long been viewed as an important factor for economic development and provided a rationale for policies aiming at a more balanced age structure through birth control and family planning. Assessing the relative importance of age structure and increases in human capital, recent work has argued that the demographic dividend is related to education and has suggested a dominance of improving education over age structure. Here we reconsider the empirical relevance of shifts in the age distribution for development for a panel of 159 countries over the period 1950 to 2015.

On the Relationship between Cognitive Ability and Risk Preference.

Many decisions of individuals involve a combination of internal preferences and mental processes related to cognitive ability. As Frederick (2005) argued in this journal, "there is no good reason for ignoring the possibility that general intelligence or various more specific cognitive abilities are important causal determinants of decision making." Since then, a number of empirical studies have focused on the relationship between cognitive ability and decision-making in different contexts.