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Prospect Theory and Asset Prices
Barberis, Nicholas - 1999
We propose a new framework for pricing assets, derived in part from the traditional consumption-based approach, but which also incorporates two long-standing ideas in psychology: prospect theory, and evidence on how prior outcomes affect risky choice. Consistent with prospect theory, the...
Persistent link: https://www.econbiz.de/10012471569
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Airline Hubs : Costs, Markups and the Implications of Customer Heterogeneity
Berry, Steven - 1996
This paper estimates a model of airline competition that captures the two major features of the industry: product differentiation and economies of density. The results not only provide support to some of the traditional common wisdom in the industry, but are also useful for understanding major...
Persistent link: https://www.econbiz.de/10012473287
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Inside Job or Deep Impact? Using Extramural Citations to Assess Economic Scholarship
Angrist, Joshua - 2017
Does academic economic research produce material of scientific value, or are academic economists writing only for clients and peers? Is economics scholarship uniquely insular? We address these questions by quantifying interactions between economics and other disciplines. Changes in the impact of...
Persistent link: https://www.econbiz.de/10012454984
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Participation and Investment Decisions in a Retirement Plan : The Influence of Colleagues' Choices
Duflo, Esther - 2000
This paper investigates whether peer effects play an important role in retirement savings decisions. We use individual data from the staff of a university to study whether individual decisions to enroll in a Tax Deferred Account plan sponsored by the university (and the choice of the mutual fund...
Persistent link: https://www.econbiz.de/10012471015
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The Growing Importance of Decision-Making on the Job
Deming, David J. - National Bureau of Economic Research - 2021
demand for decision-making and explores the consequences for life-cycle earnings. Career earnings growth in the U.S. more … substantial share of this shift is explained by increased employment in decision-intensive occupations, which have longer and more … gradual periods of earnings growth. To understand these patterns, I develop a model that nests decision-making in a standard …
Persistent link: https://www.econbiz.de/10012510612
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A (Dynamic) Investigation of Stereotypes, Belief-Updating, and Behavior
Coffman, Katherine B.; Ugalde Araya, Paola; Zafar, Basit - National Bureau of Economic Research - 2021
analyze the dynamic effects of feedback on beliefs about own performance and decision-making across two different domains …
Persistent link: https://www.econbiz.de/10012660060
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The Subjective Inflation Expectations of Households and Firms : Measurement, Determinants, and Implications
Weber, Michael; D'Acunto, Francesco; Gorodnichenko, Yuriy; … - National Bureau of Economic Research - 2022
Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households' and firms' economic...
Persistent link: https://www.econbiz.de/10013210074
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Who Protests, What Do They Protest, and Why?
Chenoweth, Erica; Hamilton, Barton Hughes; Lee, Hedwig; … - National Bureau of Economic Research - 2022
We examine individuals' decisions to attend protests during the summer of 2020. Our analysis examines two simultaneous movements: Black Lives Matter along with protests calling for less stringent public health measures to combat the COVID-19 (e.g., for swifter reopening of businesses). Our...
Persistent link: https://www.econbiz.de/10013191081
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Individual and Collective Information Acquisition : An Experimental Study
Reshidi, Pëllumb; Lizzeri, Alessandro; Yariv, Leeat; … - National Bureau of Economic Research - 2021
decision. We report results from lab experiments focused on such information-collection processes. We consider decisions … decision accuracies over time. Furthermore, groups using majority rule yield especially hasty and inaccurate decisions …
Persistent link: https://www.econbiz.de/10012794585
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Cognitive Uncertainty in Intertemporal Choice
Enke, Benjamin; Graeber, Thomas Wilhelm - National Bureau of Economic Research - 2021
when a decision is complex, they implicitly treat different time delays to some degree alike. By experimentally measuring … when the decision environment is more complex. Third, cognitive uncertainty matters for choice architecture: people who are …
Persistent link: https://www.econbiz.de/10012794605