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Lessons from Learning to Have Rational Expectations

Lindh, Thomas - Institutet för Näringslivsforskning (IFN) - 1989

rational learning requires implausible initial information assumptions, therefore some form of bounded rationality has come … show some promise in common macro models. A new selection problem arises since differences in initial information and … learning methods give rise to many different equilibria, making economic modelling sensitive to assumptions on information and …

Persistent link: https://www.econbiz.de/10010684484

The Incentive to Acquire Information and Financial Market Efficiency

Wihlborg, Clas - Institutet för Näringslivsforskning (IFN) - 1989

No abstract.

Persistent link: https://www.econbiz.de/10010684528

The Economics of Bounded Rationality, Entrepreneurship and Institutional Evolution

Day, Richard H. - Institutet för Näringslivsforskning (IFN) - 1989

Bounded rationality provides a fundamental economic explanation for non-rational modes of behavior. These non-rational modes underlie both the erratic perturbations of entrepreneurship and the systematic waves of diffusion they initiate which in turn guarantee that the economy operates out of...

Persistent link: https://www.econbiz.de/10011019055

Risk Aversion Relates to Cognitive Ability: Fact or Fiction?

Andersson, Ola; Tyran, Jean-Robert; Wengström, Erik; … - Institutet för Näringslivsforskning (IFN) - 2013

Recent experimental studies suggest that risk aversion is negatively related to cognitive ability. In this paper we report evidence that this relation might be spurious. We recruit a large subject pool drawn from the general Danish population for our experiment. By presenting subjects with...

Persistent link: https://www.econbiz.de/10010729196

Probabilistic Choice as a Result of Mistakes

Mattsson, Lars-Göran; Weibull, Jörgen W. - Institutet för Näringslivsforskning (IFN) - 2000

We derive a family of probabilistic choice models including the multinomial logit model, from a microeconomic model in which the decision maker has to make some effort in order to avoid mistakes when implementing any desired outcome. The disutility of this effort enters the decision maker's goal...

Persistent link: https://www.econbiz.de/10005771086

Deadlines and Distractions

Saez-Marti, Maria; Sjögren, Anna - Institutet för Näringslivsforskning (IFN) - 2004

We analyze the effect of deadlines on timing of effort when agents are occasionaly distracted. We show that agents precautiously work early when completion of the task is uncertain, but rather likely. Agents who are rarely distracted will always postpone effort since the risk of not completing...

Persistent link: https://www.econbiz.de/10005419512

Probabilistic Choice as a Result of Mistakes.

Mattsson, L.-G.; Weibull, J.W. - Institutet för Näringslivsforskning (IFN) - 2000

Persistent link: https://www.econbiz.de/10005639336

Recognizing Macroeconomic Fluctuations in Value Based Management

Oxelheim, Lars; Wihlborg, Clas - Institutet för Näringslivsforskning (IFN) - 2002

order for management to obtain better information for purposes of investment, divestment, and exposure management decisions …

Persistent link: https://www.econbiz.de/10005645280

The Impact of Macroeconomic Variables on Corporate Performance - What Shareholders Ought to Know?

Oxelheim, Lars - Institutet för Näringslivsforskning (IFN) - 2002

relevant information transmitted to outsider shareholders. …

Persistent link: https://www.econbiz.de/10005645281

On the Timing of Education

Sjögren, Anna; Saez-Marti, Maria - Institutet för Näringslivsforskning (IFN) - 2004

We propose a simple investment model which shows that, in the presence of fluctuations in and uncertainty about the opportunity cost of time, marginal individuals may choose to delay their education if the opportunity cost of time is temporarily high. Importantly, it is when the completion of...

Persistent link: https://www.econbiz.de/10005645375