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"If you have the flu symptoms, your asymptomatic spouse may better answer the willingness-to-pay question". Evidence from a double-bounded dichotomous choice model with heterogeneo...

Schwarzinger, Michaël; Carrat, Fabrice; Luchini, Stéphane - HAL - 2009

compared to a spouse. Finally, our original DB model with shift effect and heterogeneous anchoring reconciled the discrepancies …

Persistent link: https://www.econbiz.de/10009353550

Heterogeneous anchoring in dichotomous choice valuation framework

Flachaire, Emmanuel; Hollard, Guillaume; Luchini, Stephane - HAL - 2007

This article addresses the important issue of anchoring in contingent valuation surveys that use the double …-bounded elicitation format. Anchoring occurs when responses to the follow-up dichotomous choice valuation question are influenced by the … controlling for anchoring - and allowing the degree of anchoring to differ between respondent groups - the efficiency of the …

Persistent link: https://www.econbiz.de/10010750356

Trading Volume and Market Efficiency: An Agent Based Model with Heterogenous Knowledge about Fundamentals

Lespagnol, Vivien; Rouchier, Juliette - HAL - 2014

This paper studies the effect of investor's bounded rationality on market dynamics. In an order driven market, we consider a few-types model where two risky assets are exchanged. Agents differ by their behavior, knowledge, risk aversion and investment horizon. The investor's demand is defined by...

Persistent link: https://www.econbiz.de/10010933931

Can the Mortensen-Pissarides Model Match the Housing Market Facts ?

Lisi, Gaetano - HAL - 2012

This paper examines whether the baseline Mortensen-Pissarides matching model can account for the housing market facts, namely, the existence of price dispersion, the positive correlation between housing price and trading volume, and between housing price and time-on-the-market. Our main finding...

Persistent link: https://www.econbiz.de/10009652973

Liquidity generated by heterogeneous beliefs and costly estimations

Shen, Min; Turinici, Gabriel - HAL - 2012

We study the liquidity, defined as the size of the trading volume, in a situation where an infinite number of agents with heterogeneous beliefs reach a trade-off between the cost of a precise estimation (variable depending on the agent) and the expected wealth from trading. The "true" asset...

Persistent link: https://www.econbiz.de/10010548256

Liquidity generated by heterogeneous beliefs and costly estimations

Shen, Min; Turinici, Gabriel - HAL - 2012

We study the liquidity, de ned as the size of the trading volume, in a situation where an in nite number of agents with heterogeneous beliefs reach a trade-o between the cost of a precise estimation (variable depending on the agent) and the expected wealth from trading. The \true" asset price is...

Persistent link: https://www.econbiz.de/10010550926

Tobin tax and trading volume tightening: a reassessment

Damette, Olivier; Goutte, Stéphane - HAL - 2014

This article extends the previous literature on the Tobin tax and financial transaction tax. We investigate the linkages between trading volumes and transaction costs using both a linear and a nonlinear methodology. In stark contrast with previous studies, we consider the possibility that our...

Persistent link: https://www.econbiz.de/10010821381

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