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Entrepreneurial Saving Practices and Reinvestment: Theory and Evidence from Tanzanian MSEs

Beck, Thorsten; Pamuk, Haki; Uras, Burak R - Department of Economics, Oxford University - 2014

a novel micro & small enterprise survey from Tanzania we test the empirical implications of this theory. We find (1 … savings within the household. We also show that the negative impact of saving within-the-household on investment is more … pronounced for family members with inherently low intra-household bargaining power - such as females and non-head household …

Persistent link: https://www.econbiz.de/10011159021

Self-control and debt: evidence from data on credit counselling

Nurcan, Nur Ata; Bicakova, Alena - Department of Economics, Oxford University - 2010

Counselling agencies assist borrowers in financial difficulties by administering repayment plans, the so-called debt management plans (DMPs). In this paper, we use unique administrative data from a major credit counselling agency in the UK to analyze the determinants of debt repayment...

Persistent link: https://www.econbiz.de/10008492089

Perceived Ambiguity and Relevant Measures

Mukerji, Sujoy; Klibanoff, Peter; Seo, Kyoungwon - Department of Economics, Oxford University - 2014

We axiomatize preferences that can be represented by a monotonic aggregation of subjective expected utilities generated by a utility function and some set of i.i.d. probability measures over a product state space, S1. For such preferences, we define relevant measures, show that they are treated...

Persistent link: https://www.econbiz.de/10010780802

On the Smooth Ambiguity Model: A Reply

Mukerji, Sujoy; Klibanoff, Peter - Department of Economics, Oxford University - 2009

Epstein (2009) describes three Ellsberg-style thought experiments and argues that they pose difficulties for the smooth ambiguity model of decision making under uncertainty developed by Klibanoff, Marinacci and Mukerji (2005). We revisit these thought exeperiments and find, to the contrary,...

Persistent link: https://www.econbiz.de/10004984412

Ambiguity Aversion and Cost-Plus Procurement Contracts

Mukerji, Sujoy - Department of Economics, Oxford University - 2002

This paper provides a positive theory about the contractual form of procurement contracts under cost uncertainty …

Persistent link: https://www.econbiz.de/10005047709

Framing as Path-Dependence

Gold, Natalie; List, Christian - Department of Economics, Oxford University - 2002

A `framing` effect occurs when an agent`s choices are not invariant under changes in the way a choice problem is formulated, e.g. changes in the way the options are described (violation of description invariance) or in the way preferences are elicited (violation of procedure invariance). In this...

Persistent link: https://www.econbiz.de/10005047918

Knowledge-Driven Economic Development

Bandyopadhyay, Sanghamitra - Department of Economics, Oxford University - 2006

This paper examines the impact of mass media and information and communications technologies (ICT) as knowledge-based infrastructures on economic development. The results strongly suggest that both mass media and ICT penetration are negatively associated with corruption. This result holds across...

Persistent link: https://www.econbiz.de/10005047954

Foundations of ambiguity and economic modeling

Mukerji, Sujoy - Department of Economics, Oxford University - 2009

Are foundations of models of ambiguity-sensitive preferences too flawed to be usefully applied to economic models? Al-Najjar and Weinstein (2009) say such is indeed the case. In this paper, first, we point out that many of the key arguments by Al-Najjar and Weinstein do not apply to quite a...

Persistent link: https://www.econbiz.de/10004999235

A Smooth Model of Decision,Making Under Ambiguity

Mukerji, Sujoy; Klibanoff, Peter - Department of Economics, Oxford University - 2002

`s tastes. We show that attitudes towards risk are characterized by the shape of the von Neumann-Morgenstern utility function … risk attitudes can be applied as well to ambiguity attitudes. The model is also distinct from many in the literature on …

Persistent link: https://www.econbiz.de/10005090642

Inefficiencies on Linking Decisions

Hortala-Vallve, Rafael - Department of Economics, Oxford University - 2007

Jackson and Sonnenschein (2006) show that by linking collective decisions the incentive costs can become negligible and, at the limit, ex-ante efficiency can be achieved. In a voting situation this implies that the agents` intensity of preferences can be taken into account even in the absence of...

Persistent link: https://www.econbiz.de/10005051104