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It has long been hypothesized that migrants and non-migrants differ in their individual risk and time preferences. Due to a lack of reliable data on migrants’ preferences, empirical evidence, however, is scarce. Therefore, this paper has sought to advance research on preferences and migration decisions by using original household survey data from two developing countries that are both characterized by a longstanding tradition in regional migration. In coastal communities in Ghana and Indonesia, individual risk and time preferences have not only been elicited through survey questions but also through experimental tasks with real and relatively large monetary payoffs. There is evidence that out-migrants from both study regions are significantly less risk averse and have a lower time preference than non-migrants. Overall, the results indicate that the considered individual preferences are as important as employment status, education or networks, which have mainly been the focus of migration theories. [ABSTRACT FROM AUTHOR]

Finance is based on rational behavior assumption. Thus, the existence of day-of-weekend anomaly in the market can be the anti thesis of the assumption. Much research suggested the role of psychology as the explanation of this anomaly. However, it is rare to find a research investigating the relationship between psychology and day-of-week anomaly (DOWA). As one of the psychology factors is weather-induced mood, this research aims to investigate the relationship between weather cycle and DOWA. This paper used Indonesia average temperature level from 1999 up to 2009 for determining the proxy of moods; and found temperature level does not explain the market returns movements. Temperature level influences the DOWA implying the moods of investor establish the irrational behavior of the market. This result can be used as the explanation of irrationality behavior of investor on Monday. Further research is needed in term of investigating the relationship between psychology factors (need for cognition, heuristic bias, information ignorance, and other factors) and investor behavior. [ABSTRACT FROM AUTHOR]