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A Test of the Rational Expectations Hypothesis using data froma Natural Experiment
Del Conte, Anna; Moffatt, Peter G.; Di Cagno, Daniela T.; … - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009
Data on contestants’ choices in Italian Game Show Affari Tuoi are analysed in a way that separatesthe effect of risk attitude (preferences) from that of beliefs concerning the amount ofmoney that will be offered to contestants in future rounds. The most important issue addressedin the paper is...
Persistent link: https://www.econbiz.de/10009022166
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Understanding the Two Components of Risk Attitudes: AnExperimental Analysis
Qiu, Jianying; Steiger, Eva-Maria - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009
Economics and management science share the tradition of ordering risk aversionby fitting the best expected utility (EU …) model with a certain utility function to in-dividual data, and then using the utility curvature for each individual as the … introduced the weighting of probabilities as anadditional component to capture risk attitude. However, if utility curvature and …
Persistent link: https://www.econbiz.de/10009022172
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The Role of Preferences in Disagreements over Scientific Hypothesis: An Empirical Inquiry into Environmental and Economic Decision Making
Kataria, Mitesh - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2010
The Porter hypothesis suggests that environmental regulations, such as restricting firms to reduce pollution, stimulates innovations and create a win-win situation for the environment and for firms. It has received a great deal of attention from academics as well as bureaucrats who disagree...
Persistent link: https://www.econbiz.de/10009248913