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Reforming incentive schemes under political constraints: The physician agency

Demange, Gabrielle; Geoffard, Pierre Yves - HAL - 2006

In many developed countries attempts to reform physicians payment schemes have failed. To analyze some of the difficulties, this paper studies reforms of payment schemes in situations such as the physician agency, where the quality of the good produced is imperfectly observable by the payer. We...

Persistent link: https://www.econbiz.de/10008923086

Crisp Fair Gambles

André, Eric - HAL - 2014

Axiomatic models of decision under ambiguity with a non-unique prior allow for the existence of Crisp Fair Gambles …: acts whose expected utility is nul whichever of the priors is used. But, in these models, the DM has to be indifferent to …

Persistent link: https://www.econbiz.de/10010933812

Ambiguity as a Source of Temptation: Modeling Unstable Beliefs

Lapied, André; Rongiconi, Thomas - HAL - 2013

linear costs of Self-Control. In this paper we extend this theory to situations in which a decision-maker faces ambiguity. We … order to take into account individual attitudes towards ambiguity in the second period. …

Persistent link: https://www.econbiz.de/10010933870

Optimal Portfolio with Vector Expected Utility

André, Eric - HAL - 2013

We study the optimal portfolio selected by an investor who conforms to Siniscalchi (2009)'s Vector Expected Utility …'s (VEU) axioms and who is ambiguity averse. To this end, we derive a mean-variance preference generalised to ambiguity from … to ambiguity in the VEU framework. Our criterion has attractive features: it is axiomatically well-founded and …

Persistent link: https://www.econbiz.de/10010933927

Stochastic orderings with respect to a capacity and an application to a financial optimization problem

Grigorova, Miryana - HAL - 2011

In an analogous way to the classical case of a probability measure, we extend the notion of an increasing convex (concave) stochastic dominance relation to the case of a normalised monotone (but not necessarily additive) set function also called a capacity. We give different characterizations of...

Persistent link: https://www.econbiz.de/10009246902

Stochastic dominance with respect to a capacity and risk measures

Grigorova, Miryana - HAL - 2011

Pursuing our previous work in which the classical notion of increasing convex stochastic dominance relation with respect to a probability has been extended to the case of a normalised monotone (but not necessarily additive) set function also called a capacity, the present paper gives a...

Persistent link: https://www.econbiz.de/10009368022

Comment on Ellsberg's two-color experiment, portfolio inertia and ambiguity

Higashi, Youichiro; Mukerji, Sujoy; Takeoka, Norio; … - HAL - 2008

The final step in the proof of Proposition 1 (p.311) of Mukerji and Tallon (2003) may not hold in generalbecause $\varepsilon0$ in the proof cannot be chosen independently of $w,z$. We point out by a counterexample that the axioms they impose are too weak for Proposition 1. We introduce a...

Persistent link: https://www.econbiz.de/10010750607

Intergenerational Attitudes Towards Strategic Uncertainty and Competition: A Field Experiment in a Swiss Bank

Madiès, Thierry; Villeval, Marie Claire; Wasmer, Malgorzata - HAL - 2013

With a market entry game inspired by Camerer and Lovallo (1999), we study the attitudes of junior and senior employees towards strategic uncertainty and competition. Seniors exhibit higher entry rates compared to juniors, especially when the market capacity is not too low or when earnings from...

Persistent link: https://www.econbiz.de/10010899002

Ambiguity on audits and cooperation in a public goods game

Dai, Zhixin; Hogarth, Robin M.; Villeval, Marie Claire - HAL - 2014

We investigate the impact of various audit schemes on the future provision of public goods, when contributing less than the average of the group is sanctioned exogenously and the probability of an audit is unknown. We study how individuals update their beliefs about the probability of being...

Persistent link: https://www.econbiz.de/10010899359

A Field Study of Chinese Migrant Workers' Attitudes toward Risks, Strategic Uncertainty, and Competitiveness

Hao, Li; Houser, Daniel; Mao, Lei; Villeval, Marie Claire - HAL - 2014

, ambiguity, and competitiveness. Our subjects include migrants and non-migrants. We find that, migrants exhibit no differences … from non-migrants in risk and ambiguity preferences elicited using pairs of lotteries ; however, migrants are significantly …

Persistent link: https://www.econbiz.de/10010899744

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