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On Rothschild-Stiglitz as competitive pooling

Martin, Alberto - Department of Economics and Business, Universitat … - 2003

Dubey and Geanakoplos [2002] have developed a theory of competitive pooling, which incorporates adverse selection and …

Persistent link: https://www.econbiz.de/10005772578

On ignoring scientific evidence: The bumpy road to enlightenment

Hogarth, Robin - Department of Economics and Business, Universitat … - 2006

It is well accepted that people resist evidence that contradicts their beliefs. Moreover, despite their training, many scientists reject results that are inconsistent with their theories. This phenomenon is discussed in relation to the field of judgment and decision making by describing four...

Persistent link: https://www.econbiz.de/10005772583

Determinants of linear judgment: A meta-analysis of lens model studies

Karelaia, Natalia; Hogarth, Robin - Department of Economics and Business, Universitat … - 2007

The mathematical representation of Brunswik’s lens model has been used extensively to study human judgment and provides a unique opportunity to conduct a meta-analysis of studies that covers roughly five decades. Specifically, we analyze statistics of the “lens model equation” (Tucker,...

Persistent link: https://www.econbiz.de/10005827439

Elicited beliefs and social information in modified dictator games: What do dictators believe other dictators do?

Iriberri, Nagore; Rey-Biel, Pedro - Department of Economics and Business, Universitat … - 2008

We use subjects’ actions in modified dictator games to perform a within-subject classification of individuals into four different types of interdependent preferences: Selfish, Social Welfare maximizers, Inequity Averse and Competitive. We elicit beliefs about other subjects’ actions in the...

Persistent link: https://www.econbiz.de/10005827497

Stochastic dominance and absolute risk aversion

Caballé, Jordi; Esteban, Joan - Department of Economics and Business, Universitat … - 2002

In this paper we proose the infimum of the Arrow-Pratt index of absolute risk aversion as a measure of global risk … level of global risk aversion such that all increasing concave utility functions with at least as much global risk aversion … lower level of global risk aversion, we can find two utility functions in this class yielding opposite preference relations …

Persistent link: https://www.econbiz.de/10005708017

Intergenerational justice when future worlds are uncertain

Llavador, Humberto; Roemer, John E.; Silvestre, Joaquim - Department of Economics and Business, Universitat … - 2009

Let there be a positive (exogenous) probability that, at each date, the human species will disappear. We postulate an Ethical Observer (EO) who maximizes intertemporal welfare under this uncertainty, with expected-utility preferences. Various social welfare criteria entail alternative von...

Persistent link: https://www.econbiz.de/10008555419

Notes on stochastic choice

Mas-Colell, Andreu - Department of Economics and Business, Universitat … - 2005

A general formalism on stochastic choice is presented. Tje Rationalizability and Recoverability (Identification) problems are discussed. For the identification issue parametric examples are analyzed by means of techniques of mathematical tomography (Random transforms).

Persistent link: https://www.econbiz.de/10005704875

Effects of uncertain lifetime and annuity insurance on capital accumulation and growth

Fuster, Luisa - Department of Economics and Business, Universitat … - 1998

This paper studies the effects of uncertain lifetime on capital accumulation and growth and also the sensitivity of those effects to the existence of a perfect annuities market. The model is an overlapping generations model with uncertain lifetimes. The technology is convex and such that the...

Persistent link: https://www.econbiz.de/10005704886

Insurance with frequent trading: A dynamic analysis of efficient insurance markets

Penalva, José - Department of Economics and Business, Universitat … - 2000

actuarial properties of the underlying risk process. The paper further extends insurability to include correlated and …

Persistent link: https://www.econbiz.de/10005248462

The value of useless information

Alaoui, Larbi - Department of Economics and Business, Universitat … - 2012

for remaining in doubt. I then use this model to analyze the connection between preferences of this nature and risk …

Persistent link: https://www.econbiz.de/10010552495