We assess the decline in mental health after the onset of the Covid-19 pandemic in the UK. This decline was more than twice as large for women as for men. We seek to explain this gender gap by ...exploring gender differences in: family and caring responsibilities; financial and work situation; social engagement; health situation, and health behaviours, including exercise. We assess their quantitative relevance by applying standard decomposition methods. We find that compositional differences in family and caring responsibilities explain part of the gender gap, but more important are gender differences in social factors, particularly changes in loneliness. We explore this result further by analysing gender differences in personality traits. Even after controlling for all factors there remains a noticeable age–gender gradient, with young females suffering particularly badly.
•Experimental investigation of how the physical transaction of cash affects savings.•Female microfinance borrowers in the Philippines decide about real-life savings.•Results show a robust and ...well-powered null effect of cash in hand in field setting.•Tangibility of cash does not influence savings, contrary to evidence from spending.
Cash is an important means of transaction, generally assumed to be fungible. However, behavioral economics and consumer research show that ‘cash in hand’, physically holding on to cash and then handing it away, affects purchasing decisions. I study how cash in hand influences decisions in a different, but very important domain: savings. Savings accounts are a promising tool for reducing poverty, but the use of savings accounts is often puzzlingly low. Holding on to cash that needs to be physically deposited into a savings account may increase the psychological costs of saving. This study experimentally identifies the causal effect of cash in hand on savings deposits of female microfinance clients in the Philippines. In contrast to many laboratory and several field studies with similar interventions, I do not find reduced savings deposits due to cash in hand.
•We document the tasks and work organization before and after the onset of the pandemic for a key personnel in microfinance: loan officers.•Loan officers worked similar hours during the pandemic, but ...completed fewer of their usual tasks.•In times of crisis, the usual performance indicators appear to be mainly driven by external factors such as the nation-wide debt moratorium.•Perceived stress of loan officers was particularly high during the period of the debt moratorium.
The Microfinance industry has been severely affected by Covid-19. We provide detailed insights into how loan officers, the key personnel linking the lender to its borrowers, are affected in their performance and adapt their work to the pandemic. We use administrative records of an Indian Microfinance Institution and detailed panel survey data on performance, performed tasks, and work organization to document how the work environment became more challenging during the pandemic. Loan officers operate in a setting where work from home is hard to implement due to the nature of the tasks and technological constraints. The usual performance indicators appear to be mainly driven by external factors such as the nation-wide debt moratorium. Loan officers worked similar hours, but engaged less in planning activities and completed fewer of the usual tasks. Work perceptions and mental health of loan officers reflect these changes, and perceived stress was particularly high during the period of the debt moratorium.
The Microfinance industry has been severely affected by Covid-19. We provide detailed insights into how loan officers, the key personnel linking the lender to its borrowers, are affected in their ...performance and adapt their work to the pandemic. We use administrative records of an Indian Microfinance Institution and detailed panel survey data on performance, performed tasks, and work organization to document how the work environment became more challenging during the pandemic. Loan officers operate in a setting where work from home is hard to implement due to the nature of the tasks and technological constraints. The usual performance indicators appear to be mainly driven by external factors such as the nation-wide debt moratorium. Loan officers worked similar hours, but engaged less in planning activities and completed fewer of the usual tasks. Work perceptions and mental health of loan officers reflect these changes, and perceived stress was particularly high during the period of the debt moratorium.
The expansion of digital financial services leads to severe consumer protection issues such as fraud and scams. As these potentially decrease trust in digital services, especially in developing ...countries, avoiding victimization has become an important policy objective. In an online experiment, we first investigate how well individuals in Kenya identify phone scams using a novel measure of scam identification ability. We then test the effectiveness of scam education, a commonly used approach by organizations for fraud prevention. We find that common tips on how to spot scams do not significantly improve individuals’ scam identification ability, i.e., the distinction between scams and genuine messages. This null effect is driven by an increase in correctly identified scams and a decrease in correctly identified genuine messages, indicating overcaution. Additionally, we find suggestive evidence that genuine messages with scam-like features are misclassified more often, highlighting the importance of a careful design of official communication.
•We design a measure of scam identification ability (SIA) based on actual Kenyan SMS.•In an online survey, we document how well individuals identify phone scams.•We experimentally test the effectiveness of scam education on SIA.•Common tips on how to spot scams do not improve SIA on average.•Correct identification increases for scams but decreases for genuine messages.
Does competition affect moral behavior? This fundamental question has been debated among leading scholars for centuries, and more recently, it has been tested in experimental studies yielding a body ...of rather inconclusive empirical evidence. A potential source of ambivalent empirical results on the same hypothesis is design heterogeneity—variation in true effect sizes across various reasonable experimental research protocols. To provide further evidence on whether competition affects moral behavior and to examine whether the generalizability of a single experimental study is jeopardized by design heterogeneity, we invited independent research teams to contribute experimental designs to a crowd-sourced project. In a large-scale online data collection, 18,123 experimental participants were randomly allocated to 45 randomly selected experimental designs out of 95 submitted designs. We find a small adverse effect of competition on moral behavior in a meta-analysis of the pooled data. The crowd-sourced design of our study allows for a clean identification and estimation of the variation in effect sizes above and beyond what could be expected due to sampling variance. We find substantial design heterogeneity—estimated to be about 1.6 times as large as the average standard error of effect size estimates of the 45 research designs—indicating that the informativeness and generalizability of results based on a single experimental design are limited. Drawing strong conclusions about the underlying hypotheses in the presence of substantive design heterogeneity requires moving toward much larger data collections on various experimental designs testing the same hypothesis.
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