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Loss Aversion and Seller Behavior : Evidence from the Housing Market: Comment Working Paper
Buisson, Florent - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2013
In an often quoted article, Genesove and Mayer (2001) observe that house sellers are reluctant to sell at a loss, and attribute this finding to loss aversion. I show that loss aversion cannot explain this phenomenon
Persistent link: https://www.econbiz.de/10010607677
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Prospect Theory and consumer behavior: Goals and Tradeoffs.
Buisson, Florent - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2013
I show that a loss averse consumer who must share her budget between two goods prefer allocations for which consumption equals reference point for at least one good. The phenomenon intensity depends on the curvature of the utility curve. These results are consistent with several stylized facts...
Persistent link: https://www.econbiz.de/10010640972
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Ambiguity Preferences and Portfolio Choices: Evidence from the Field.
Bianchi, Milo; Tallon, Jean-Marc - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2014
We investigate the empirical relation between ambiguity aversion, risk aversion and portfolio choices. We match administrative panel data on portfolio choices with survey data on preferences over ambiguity and risk. We report three main findings. First, conditional on participation, ambiguity...
Persistent link: https://www.econbiz.de/10010942363
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Aggregating Tastes, Beliefs, and Attitudes under Uncertainty.
Danan, Eric; Gajdos, Thibault; Hill, Brian; Tallon, … - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2014
We provide possibility results on the aggregation of beliefs and tastes for Monotone, Bernoullian and Archimedian preferences of Cerreia-Vioglio, Ghirardato, Maccheroni, Marinacci and Siniscalchi (2011). We propose a new axiom, Unambiguous Pareto Dominance, which requires that if the unambiguous...
Persistent link: https://www.econbiz.de/10010942367
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Fair management of social risk.
Fleurbaey, Marc; Zuber, Stéphane - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2014
context of risk and uncertainty. We apply the méthod to the problems of managing unemployment allowances (in the context of …
Persistent link: https://www.econbiz.de/10010753973
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Cardinal extensions of EU model based on the Choquet integral.
Chateauneuf, Alain; Cohen, Michèle - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008
, which allow to take into account observed behaviors as in Allais' paradox under risk or Ellsberg's paradox under uncertainty … uncertainty, and Quiggin and Yaari under risk, succeeded to characterize preferences which generalize the EU model, by means of a … for more diversified patterns of behavior under uncertainty as well under risk. …
Persistent link: https://www.econbiz.de/10004988950
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Decision under uncertainty : the classical models.
Chateauneuf, Alain; Cohen, Michèle; Jaffray, Jean-Yves - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008
This chapiter of a collective book is dedicated to classical decision models under uncertainty, i.e. under situations …
Persistent link: https://www.econbiz.de/10004988960
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Optimal nuclear waste burial policy under uncertainty.
Kama, Alain Ayong Le; Fodha, Mouez - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008
The aim of this paper is to study the optimal nuclear waste burial policy under an uncertainty : the possibility that …. Under uncertainty on the future safety of the buried waste, the social planner will decide to decrease the rate of waste …
Persistent link: https://www.econbiz.de/10004988966
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No-arbitrage, overlapping sets of priors and the existence of efficient allocations and equilibria in the presence of risk and ambiguity.
Dana, Rose-Anne; Van, Cuong Le - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008
some prior. It is shown that the more uncertainty averse and the more risk averse, the more likely are efficient …
Persistent link: https://www.econbiz.de/10005696750
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Robust viable management of a harvested ecosystem model.
Regnier, Esther; Lara, Michel De - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2013
anchovy-hake couple in the Peruvian upwelling ecosystem. We find that accounting for uncertainty significantly reduces the …
Persistent link: https://www.econbiz.de/10010617543