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The Value of a Statistical Life and the Coefficient of Relative Risk Aversion

Kaplow, Louis - National Bureau of Economic Research (NBER) - 2003

Individuals' risk preferences are estimated and employed in a variety of settings, notably including choices in …' coefficients of relative risk aversion (CRRA's) in excess of one, and often significantly higher. However, it can be shown that …) anomaly involving individuals' risk-taking behavior in different market settings. …

Persistent link: https://www.econbiz.de/10005248969

Self-Protection and Insurance with Interdependencies

Muermann, Alexander; Kunreuther, Howard - National Bureau of Economic Research (NBER) - 2007

We study optimal investment in self-protection of insured individuals when they face interdependencies in the form of …

Persistent link: https://www.econbiz.de/10005710113

The Power of Attention: Do Rankings Affect the Financial Resources of Public Colleges?

Jin, Ginger Zhe; Whalley, Alex - National Bureau of Economic Research (NBER) - 2007

This paper removed at the authors' request.

Persistent link: https://www.econbiz.de/10005710346

An Economic Model of the Planning Fallacy

Brunnermeier, Markus K.; Parker, Jonathan A.; … - National Bureau of Economic Research (NBER) - 2008

less smoothing of work than those chosen by a person with objective beliefs. We test our theory using extant experimental …

Persistent link: https://www.econbiz.de/10005710350

Interdependent Security: A General Model

Heal, Geoffrey; Kunreuther, Howard - National Bureau of Economic Research (NBER) - 2004

others. Expectations about others' choices will influence investments in risk-management, and the outcome can be sub …-optimal investment all round. We model this as the Nash equilibrium of a game and give conditions for such a sub-optimal equilibrium to … of infectious diseases via vaccination and investment in research and development. …

Persistent link: https://www.econbiz.de/10005710465

Ability, Gender, and Performance Standards: Evidence from Academic Probation

Oreopoulos, Philip; Lindo, Jason M.; Sanders, Nicholas J. - National Bureau of Economic Research (NBER) - 2008

We use a regression discontinuity design to examine students' responses to the negative incentive brought on by being placed on academic probation. Consistent with a model of introducing performance standards in which agents respond differently based on ability, we find that being placed on...

Persistent link: https://www.econbiz.de/10005714140

Information Disclosure Policy: Do States' Data Processing Efforts Help More than the Information Disclosure Itself?

Bae, Hyunhoe; Wilcoxen, Peter; Popp, David - National Bureau of Economic Research (NBER) - 2008

The Toxics Release Inventory (TRI) was expected to reduce health risks stemming from emissions of hazardous chemicals by increasing public pressure on polluters. However, it is a massive and complex dataset, requiring significant expertise to interpret in its raw form. State governments have...

Persistent link: https://www.econbiz.de/10005714765

How Well Do Banks Manage Their Reserves?

Yaron, Amir; Jallath-Coria, Eduardo; Mukhopadhyay, Tridas - National Bureau of Economic Research (NBER) - 2002

In this paper we investigate how well banks manage their reserves. The optimal policy takes into account expected foregone interest on excess reserves and penalty costs for going below required reserves. Using a unique panel data-set on daily clearing house settlements of a cross-section of...

Persistent link: https://www.econbiz.de/10005718007

Transparency and International Investor Behavior

Wei, Shang-Jin; Gelos, R. Gaston - National Bureau of Economic Research (NBER) - 2002

Does country transparency affect international portfolio investment? We examine this and related questions using some …

Persistent link: https://www.econbiz.de/10005718053

Social Reinforcement: Cascades, Entrapment and Tipping

Heal, Geoffrey; Kunreuther, Howard - National Bureau of Economic Research (NBER) - 2007

There are many social situations in which the actions of different agents reinforce each other. These include network effects and the threshold models used by sociologists (Granovetter, Watts) as well as Leibenstein's "bandwagon effects." We model such situations as a game with increasing...

Persistent link: https://www.econbiz.de/10005718481

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