Showing 1 - 6 of 6
(and the coefficient of relative risk aversion) from regressions of consumption growth on uncertainty in consumption growth … imply estimates of prudence and risk aversion that are unrealistically low. Using numerical solutions to a fairly standard …
Persistent link: https://www.econbiz.de/10012471817
A large part of the recent literature on program evaluation has focused on estimation of the average effect of the treatment under assumptions of unconfoundedness or ignorability following the seminal work by Rubin (1974) and Rosenbaum and Rubin (1983). In many cases however, researchers are...
Persistent link: https://www.econbiz.de/10012466350
Using research designs patterned after randomized experiments, many recent economic studies examine outcome measures for treatment groups and comparison groups that are not randomly assigned. By using variation in explanatory variables generated by changes in state laws, government draft...
Persistent link: https://www.econbiz.de/10012473959
This paper considers the statistical and economic justification for one widely-used method of adjusting data from social experiments to account for dropping-out behavior due to Bloom (1984). We generalize the method to apply to distributions not just means, and present tests of the key...
Persistent link: https://www.econbiz.de/10012474066
This paper demonstrates that even under ideal conditions, social experiments in general only uniquely determine the mean impacts of programs but not the median or the distribution of program impacts. The conventional common parameter evaluation model widely used in econometrics is one case where...
Persistent link: https://www.econbiz.de/10012474330
The appeal of expected utility theory as a basis for a descriptive model of risky decision making has diminished is a …-range probability than is proposed by the expected utility model and risk-seeking behavior over "long-shot" odds is common …
Persistent link: https://www.econbiz.de/10012474843