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Evaluating the Role of Insurance in Managing Risk of Future Pandemics

Kunreuther, Howard; Schupp, Jason - National Bureau of Economic Research - 2021

COVID-19 has demonstrated the challenges that policymakers, insurers, businesses, and employees face when disaster assistance programs are developed after the pandemic has already started. There is now an opportunity to design and implement effective and efficient solutions to manage the...

Persistent link: https://www.econbiz.de/10012585452

Looming Large or Seeming Small? Attitudes Towards Losses in a Representative Sample

Chapman, Jonathan; Snowberg, Erik; Wang, Stephanie; … - National Bureau of Economic Research - 2022

We measure individual-level loss aversion using three incentivized, representative surveys of the U.S. population (combined N=3,000). We find that around 50% of the U.S. population is loss tolerant, with many participants accepting negative-expected-value gambles. This is counter to earlier...

Persistent link: https://www.econbiz.de/10013334460

Assessing, Managing, and Financing Extreme Events : Dealing with Terrorism

Kunreuther, Howard - 2003

This paper discusses new challenges we face with terrorism as a catastrophic risk by focusing on risk assessment, risk … management as well as risk financing issues. The special characteristics of terrorism compared with major natural hazards call … for the development of public-private partnerships, as recognized in November 2002 when the Terrorism Risk Insurance Act …

Persistent link: https://www.econbiz.de/10012468515

The Streetlight Effect in Data-Driven Exploration

Hoelzemann, Johannes; Manso, Gustavo; Nagaraj, Abhishek; … - National Bureau of Economic Research - 2024

We examine innovative contexts like scientific research or technical R&D where agents must search across many potential projects of varying and uncertain returns. Is it better to possess incomplete but accurate data on the value of some projects, or might there be cases where it is better to...

Persistent link: https://www.econbiz.de/10014544680

Disentangling Exploration from Exploitation

Lizzeri, Alessandro; Shmaya, Eran; Yariv, Leeat - National Bureau of Economic Research - 2024

Starting from Robbins (1952), the literature on experimentation via multi-armed bandits has wed exploration and exploitation. Nonetheless, in many applications, agents' exploration and exploitation need not be intertwined: a policymaker may assess new policies different than the status quo; an...

Persistent link: https://www.econbiz.de/10014544703

Theory-Driven Entrepreneurial Search

Chavda, Ankur; Gans, Joshua; Stern, Scott - National Bureau of Economic Research - 2024

How should theory-based entrepreneurs search for strategies to implement their ideas? The theory-based view of strategy posits that decision-makers hold theories about their environment premised on beliefs that should be actively tested. This causal framework, which underlies the theory-based...

Persistent link: https://www.econbiz.de/10014528358

Information Cascades and Threshold Implementation : Theory and An Application to Crowdfunding

Cong, Lin William; Xiao, Yizhou - National Bureau of Economic Research - 2023

Economic interactions, such as crowdfunding, often involve sequential actions, observational learning, and contingent project implementation. We incorporate all-or-nothing thresholds in a canonical model of information cascades. Early supporters effectively delegate their decisions to a...

Persistent link: https://www.econbiz.de/10013537714

Platform Information Provision and Consumer Search : A Field Experiment

Fang, Lu; Chen, Yanyou; Farronato, Chiara; Yuan, Zhe; … - National Bureau of Economic Research - 2024

Despite substantial efforts to help consumers search in more intuitive ways, text search remains the predominant tool for product discovery online. In this paper, we explore the effects of visual and textual cues for search refinement on consumer search and purchasing behavior. We collaborate...

Persistent link: https://www.econbiz.de/10014486191

Q-Monetary Transmission

Jeenas, Priit; Lagos, Ricardo - National Bureau of Economic Research - 2022

We study the effects of monetary-policy-induced changes in Tobin's q on corporate investment and capital structure. We develop a theory of the mechanism, provide empirical evidence, evaluate the ability of the quantitative theory to match the evidence, and quantify the relevance for monetary...

Persistent link: https://www.econbiz.de/10013210051

Prediction Machines, Insurance, and Protection : An Alternative Perspective on AI's Role in Production

Agrawal, Ajay; Gans, Joshua; Goldfarb, Avi - National Bureau of Economic Research - 2022

Recent advances in AI represent improvements in prediction. We examine how decision-making and risk management strategies change when prediction improves. The adoption of AI may cause substitution away from risk management activities used when rules are applied (rules require always taking the...

Persistent link: https://www.econbiz.de/10013334395