Showing 1 - 10 of 71
We elicit subjects' willingness to pay to reduce future risk. In our experiments, subjects are given a cash endowment … probability sessions, suggesting that this bias robustly persists in environments including both risk and future uncertainty, and …
Persistent link: https://www.econbiz.de/10004988529
(ambiguity). Non-parametric statistical analyses and parametric regressions yield results that are reasonably consistent with … classical studies on voluntary contributions to public goods. The Nash equilibrium, under the assumption of risk neutrality …
Persistent link: https://www.econbiz.de/10005100545
The economic models of tax compliance predict that individuals should evade taxes when the expected benefit of cheating is greater than its expected cost. When this condition is fulfilled, the high compliance however observed remains a puzzle. In this paper, we investigate the role of emotions...
Persistent link: https://www.econbiz.de/10005100604
We evaluate biodiversity in a real options framework, when the resources in use are substitutable. We examine optimal conservation decisions given that a biodiversity loss is irreversible and that future use values are uncertain. While species substitutability is generally believed to reduce the...
Persistent link: https://www.econbiz.de/10005100634
Agents face an ambiguous risk of biodiversity survival as well as ambiguous expected losses from its extinction. As a …'être. Low risk will provoke unconditional social free-riding in both models. Les agents font face à un risque ambigu quant à la …
Persistent link: https://www.econbiz.de/10009147628
We show that using data which are properly available in real time when assessing the sensitivity of asset prices to economic news leads to different empirical findings that when data availability and timing issues are ignored. We do this by focusing on a particular example, namely Chen, Roll and...
Persistent link: https://www.econbiz.de/10005100586
This paper distinguishes relative risk aversion and resistance to intertemporal substitution in climate risk modeling …. It shows that higher risk aversion increases the optimal carbon tax. Higher resistance to intertemporal substitution … alone has the same effect as increasing the discount rate, provided that the risk is not too large. We discuss implications …
Persistent link: https://www.econbiz.de/10005169013
after controlling for risk aversion, most of countries defect by investing very weakly in collective actions against …
Persistent link: https://www.econbiz.de/10008559320
experiments and by controlling for the risk neutrality of insurers and the common risk aversion of their clients by means of the …
Persistent link: https://www.econbiz.de/10008560183
We evaluate the impact of three auction mechanisms the BeckerDeGrootMarschak (BDM) mechanism, the second-price auction, and the random nth-price auction in the measurement of private willingness-to-pay and willingness-to-accept for a pure public good. Our results show that the endowment effect...
Persistent link: https://www.econbiz.de/10008543323