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practices between schools. Tentative analyses also indicate that counselors reduce students' uncertainty about their own … individual preferences at least to the same extent as uncertainty about objective measures such as employment prospects. …
Persistent link: https://www.econbiz.de/10010884073
We propose new indices to measure macroeconomic uncertainty. The indices measure how unexpected a realization of a …
Persistent link: https://www.econbiz.de/10011269054
mechanism to insure themselves against higher degrees of uncertainty within their host countries. Furthermore, this finding …
Persistent link: https://www.econbiz.de/10011279245
There are many situations in which individuals have a choice of whether or not to observe eventual outcomes. In these instances, individuals often prefer to remain ignorant. These contexts are outside the scope of analysis of the standard von Neumann-Morgenstern (vNM) expected utility model,...
Persistent link: https://www.econbiz.de/10010547096
Prez-Castrillo and Wettstein (2002) and Veszteg (2004) propose the use of a multibidding mechanism for situations where agents have to choose a common project. Examples are decisions involving public goods (or public "bads"). We report experimental results to test the practical tractability and...
Persistent link: https://www.econbiz.de/10010547209
Ethical Observer (EO) who maximizes intertemporal welfare under this uncertainty, with expected-utility preferences. Various … diverges, then we prove it is optimal for the extended Rawlsian to ignore the uncertainty concerning the possible disappearance …
Persistent link: https://www.econbiz.de/10010547285
Several factors affect attitudes toward ambiguity. What happens, however, when people are asked to exchange an ambiguous alternative in their possession for an unambiguous one? We present three experiments in which individuals preferred to retain the former. This status quo bias emerged both...
Persistent link: https://www.econbiz.de/10010547457
it is due to greater uncertainty faced by agents. Applying the methodology of Cunha, Heckman, and Navarro (2005) to data … predictable and unpredictable components of earnings have increased in recent years. The increase in uncertainty is substantially … greater for unskilled workers. For less skilled workers, roughly 60% of the increase in wage variability is due to uncertainty …
Persistent link: https://www.econbiz.de/10005761726
This paper examines how employment protection legislation affects location decisions of multinationals. Based on a simple theoretical framework, we estimate an empirical model, using OECD-data on bilateral FDI-flows and employment protection indices. We find that, while an "unfavourable"...
Persistent link: https://www.econbiz.de/10005761849
This paper analyses the savings behaviour of natives and immigrants in Germany. It is argued that uncertainty about …
Persistent link: https://www.econbiz.de/10005762210