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Solving the Yitzhaki Paradox: Income Tax Evasion and Reference Dependence under Prospect Theory

Trotin, Gwenola - HAL - 2012

is increasing in the tax rate as soon as a suitable relative risk aversion measure is larger with auditing, than without …

Persistent link: https://www.econbiz.de/10010933897

Prospect Theory and consumer behavior: Goals and Tradeoffs

Buisson, Florent - HAL - 2013

I show that a loss averse consumer who must share her budget between two goods prefer allocations for which consumption 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...

Persistent link: https://www.econbiz.de/10011026068

Aspiration Levels and Educational Choices : An experimental study

Page, Lionel; Lévy-Garboua, Louis; Montmarquette, Claude - HAL - 2007

The explanation of social inequalities in education is still a debated issue in economics. Recent empirical studies tend to downplay the potential role of credit constraint. This article tests a different potential explanation of social inequalities in education, specifically that social...

Persistent link: https://www.econbiz.de/10010750819

From welfare to preferences, do decision flaws matter? The case of tuition fees

Lecouteux, Guilhem; Moulin, Léonard - HAL - 2013

We investigate the relation between welfare and preference satisfaction in economics, and show that the extension of the scope of economic analysis through the 20th century forces economists to question the validity of the preference satisfaction criterion as a normative criterion for evaluating...

Persistent link: https://www.econbiz.de/10010633780

Loss Aversion and Seller Behavior: Evidence from the Housing Market: Comment Working Paper

Buisson, Florent - HAL - 2013

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

Stochastic Dominance of Any Type and Any Degree, and Expected Utility: A Unifying Approach

Lapidus, André - HAL - 2013

This paper provides a general framework for a unifying treatment of stochastic dominance of any degree and of any type (direct or inverse for each final or intermediary level). It gives the conditions for the congruence between stochastic dominance and classes of utility functions in this...

Persistent link: https://www.econbiz.de/10010821246

Decision under risk : The classical Expected Utility model

Chateauneuf, Alain; Cohen, Michèle; Tallon, Jean-Marc - HAL - 2008

This chapter of a collective book aims at presenting the basics of decision making under risk. We first define notions … of risk and increasing risk and recall definitions and classifications (that are valid independently of any … representation) of behavior under risk. We then review the classical model of expected utility due to von Neumann and Morgenstern …

Persistent link: https://www.econbiz.de/10010738471

Rational behaviour, Risk aversion, High stakes for society

Palma, André De - HAL - 2008

Certain areas related to the topics under discussion here lie outside my field; for instance the evaluation of risk … powers to analyse the risk decision-making process over some years now. …

Persistent link: https://www.econbiz.de/10008794056

The Attitude Toward Probabilities of Portfolio Managers : an Experimental Study

Roux, Nicolas - HAL - 2008

This paper proposes an experiment about the attitude toward probabilities on a population of portfolio managers. Its aim is to check whether or not portfolio managers are neutral toward probabilities. Meanwhile, it presents a experimental protocole that highlights an inconsistency between two...

Persistent link: https://www.econbiz.de/10010738619

Subjective risk and disappointment

Chauveau, Thierry - HAL - 2012

"subjective" risk for "objective" risk à la Rothschild and Stiglitz (1970). A weakened independence axiom may them be set over … opposite to a convex measure of risk (Föllmer and Schied 2002). It may be viewed as a theoretical justification for choosing … this measure of risk. …

Persistent link: https://www.econbiz.de/10011025681