Stijn Baert, Corresponding author: Ghent University, Research Foundation ‐ Flanders, University of Antwerp, Université catholique de Louvain and IZA. Sint‐Pietersplein 6, B‐9000 Ghent, Belgium. 003292643481. Stijn.Baert@UGent.be. Olivier Rotsaert: Ghent University. Sint‐Pietersplein 6, B‐9000 Ghent, Belgium. Olivier.Rotsaert@UGent.be. Dieter Verhaest: KU Leuven (Brussels Campus) and Ghent University. Warmoesberg 26, B‐1000 Brussels, Belgium. Dieter.Verhaest@kuleuven.be. Eddy Omey: Ghent University. Sint‐Pietersplein 6, B‐9000 Ghent, Belgium. Eddy.Omey@UGent.be. We are grateful to Kyklos' editorial team and to two anonymous reviewers for their constructive comments on an earlier version of this article. In addition, we thank Stefano Alderighi, Federico Curci and the participants of the Spring Meeting of Young Economists 2015 for their insightful suggestions, which have helped to improve this study considerably. The authors assume the sole scientific responsibility for the present work. The data gathering process was reviewed and approved by the Ethical Committee of the Faculty of Economics and Business Administration of Ghent University at its meeting of 9 July 2013.