According to standard dynamic choice theories, patience is a key driving factor behind the accumulation of the proximate determinants of economic development. Using a novel representative data set on time preferences from 80,000 individuals in 76 countries, we investigate the empirical relevance of this hypothesis in the context of a development accounting framework. We find a significant reduc...

All physical systems in equilibrium obey the laws of thermodynamics. In other words, whatever the precise nature of the interaction between the atoms and molecules at the microscopic level, at the macroscopic level, physical systems exhibit universal behavior in the sense that they are all governed by the same laws and formulae of thermodynamics. In this paper we describe some recent history of...

Background and Objectives: The lives of all people without mental disorders are not equally healthy and fruitful, and not necessarily healthier and more fruitful than the lives of people with such disorders. Therefore, identifying psychological variables that affect well-being can play a significant role in applying these variables in practical situations. The aim of this study was to codify a ...