Showing 1 - 10 of 12
the aim of this article is to present the stage of progress of our research about the making up of an entrepreneurial … spirit and of an enterprising intention. Our objective is not only to understand the mechanisms of the making up of an … of our paper is to present the model that has enabled us to tackle the experimental phase of our research through the …
Persistent link: https://www.econbiz.de/10008789501
domain. This paper is therefore the first to, simultaneously measure utility of life duration, probability weighting, and …/2 and concave utility. This contrasts with the common finding of convex utility for, monetary losses. However, CPT was … as an alternative with more descriptive validity. However, CPT's full, function had not yet been quantified in the health …
Persistent link: https://www.econbiz.de/10010699846
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/10010635268
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 which cannot be explained by the standard consumer theory. …
Persistent link: https://www.econbiz.de/10011026068
. The reform increased the full retirement age (FRA) from 65 to 66 in two month increments per year of birth for cohorts … explain the results. The model has potentially important implications for framing of future Social Security reforms. … born from 1938 to 1943. We find strong evidence that the spike in the benefit claiming hazard at 65 moved in lockstep along …
Persistent link: https://www.econbiz.de/10010739135
We provide an economic interpretation of the practice consisting in incorporating risk measures as constraints in a … classic expected return maximization problem. For what we call the infimum of expectations class of risk measures, we show … that if the decision maker (DM) maximizes the expectation of a random return under constraint that the risk measure is …
Persistent link: https://www.econbiz.de/10008794385
Hülsmann (2008) argues that the neglect of time preference changes on the demand side of the time market renders … Rothbard's (1993) analysis incomplete in that it unduly portrays a rise in the volume of investment as a necessary counterpart … to a fall in the pure interest rate. Focusing on the determinants of the demand for present goods, this paper shows that …
Persistent link: https://www.econbiz.de/10010548613
In this paper, we consider that our experience of time (to come) depends on the emotions we feel when we imagine future … the future induces impatience. Impatience, in our context, implies that the experience of time up to the forthcoming event … triggers anxiety. This will give the experience of time contraction. Time, therefore, is not exogeneously given to the …
Persistent link: https://www.econbiz.de/10010738737
preference parameters : the risk "attitude" (aversion, prudence...), the rate of time depreciation over the life-cycle, the … degree of short-term impatience, and the degrees of family and non family altruism. Short-term impatience and non family … altruism are found no to affect wealth but, contrarily to recent results of behavioural analysis, the three other parameters …
Persistent link: https://www.econbiz.de/10010739045
In an extended variant of the life-cycle hypothesis, saving behaviour is shown to depend crucially on the interaction … between two preference parameters : γ, which represents risk attitudes (aversion, prudence...), and δ, the rate of time … depreciation. Hence, the predictions of four specific accumulation regimes : the Armchair investors (high γ, low δ) ; the …
Persistent link: https://www.econbiz.de/10010739102