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Predicting Insurance Demand from Risk Attitudes

Jaspersen, Johannes G. - 2019

Can measured risk attitudes and associated structural models predict insurance demand? In an experiment (n = 1,730), we … insurance choices over different loss probabilities and prices. The insurance choices show coherence and some correlation with … various risk-attitude measures. Yet all the structural models predict insurance poorly, often less accurately than random …

Persistent link: https://www.econbiz.de/10012480452

Biased Surveys

Valchev, Rosen; Gemmi, Luca - National Bureau of Economic Research - 2023

We find evidence suggesting that surveys of professional forecasters are biased by strategic incentives. First, we find that individual forecasts overreact to idiosyncratic information but underreact to common information. Second, we show that this bias is not present in forecasts data that is...

Persistent link: https://www.econbiz.de/10014337840

Empirical Analyses of Selection and Welfare in Insurance Markets : A Self-Indulgent Survey

Einav, Liran; Finkelstein, Amy - National Bureau of Economic Research - 2023

This review article, which was solicited by the Geneva Risk and Insurance Review, surveys work that has been done using … an empirical framework for analyzing selection in insurance markets developed by Einav, Finkelstein, and Cullen (2010 … across an array of settings in both insurance and credit markets. We also discuss some of the useful extensions to the …

Persistent link: https://www.econbiz.de/10014250164

Fatal Errors : The Mortality Value of Accurate Weather Forecasts

Shrader, Jeffrey; Bakkensen, Laura; Lemoine, Derek - National Bureau of Economic Research - 2023

We provide the first revealed preference estimates of the benefits of routine weather forecasts. The benefits come from how people use advance information to reduce mortality from heat and cold. Theoretically, more accurate forecasts reduce mortality if and only if mortality risk is convex in...

Persistent link: https://www.econbiz.de/10014322749

Households' Response to the Wealth Effects of Inflation

Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - National Bureau of Economic Research - 2023

We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth; yet, while...

Persistent link: https://www.econbiz.de/10014372429

Expectations Data in Structural Microeconomic Models

Koşar, Gizem; O'Dea, Cormac - National Bureau of Economic Research - 2022

A growing literature uses now widely-available data on beliefs and expectations in the estimation of structural models. In this chapter, we review this literature, with an emphasis on models of individual and household behavior. We first show how expectations data have been used to relax strong...

Persistent link: https://www.econbiz.de/10013210122

Do Conflict of Interests Disclosures Work? : Evidence from Citations in Medical Journals

Leuz, Christian; Malani, Anup; Muhn, Maximilian; Jakab, … - National Bureau of Economic Research - 2023

Financial ties between drug companies and medical researchers are thought to bias studies published in medical journals. To enable readers to account for such bias, most medical journals require authors to disclose potential conflicts of interest. We examine whether disclosure reduces article...

Persistent link: https://www.econbiz.de/10014226124

Inflation and Trading

Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - National Bureau of Economic Research - 2024

We study how investors respond to inflation combining a customized survey experiment with trading data at a time of historically high inflation. Investors' beliefs about the stock return-inflation relation are very heterogeneous in the cross section and on average too optimistic. Moreover, many...

Persistent link: https://www.econbiz.de/10014544748

Deferred Acceptance with News Utility

Dreyfuss, Bnaya; Glicksohn, Ofer; Heffetz, Ori; Romm, Assaf - National Bureau of Economic Research - 2022

Can incorporating expectations-based-reference-dependence (EBRD) considerations reduce seemingly dominated choices in the Deferred Acceptance (DA) mechanism? We run two experiments (total N = 500) where participants are randomly assigned into one of four DA variants--{static, dynamic} * {student...

Persistent link: https://www.econbiz.de/10013462684

Cognitive Imprecision and Stake-Dependent Risk Attitudes

Khaw, Mel Win; Li, Ziang; Woodford, Michael - National Bureau of Economic Research - 2022

In an experiment that elicits subjects' willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold pattern of risk attitudes described by Kahneman and Tversky. In addition, we document a systematic effect of stake sizes on the magnitude and sign of the relative risk premium,...

Persistent link: https://www.econbiz.de/10013388772

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