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Private versus Public Feedback - The Incentive Effects of Symbolic Awards

Gerhards, Leonie; Siemer, Neele - School of Economics and Management, University of Aarhus - 2014

We experimentally compare the incentive effects of rewarding individuals for outstanding performance publicly versus privately. We implement two real-effort tasks, which differ in how prestigious subjects perceive working on them. In both tasks private and public feedback similarly enhances...

Persistent link: https://www.econbiz.de/10010851114

Pride and Patronage - The effect of identity on pay-what-you-want prices at a charitable bookstore

Gravert, Christina - School of Economics and Management, University of Aarhus - 2014

I conduct a field experiment at a charitable bookstore to provide evidence for the role of identity under "pay-what-you-want pricing". When subtly reminded of their participation in the store's membership program members paid significantly more per book then without a reminder, while this nudge...

Persistent link: https://www.econbiz.de/10010851153

Now or never! The effect of deadlines on charitable giving: Evidence from a natural field experiment

Damgaard, Mette Trier; Gravert, Christina - School of Economics and Management, University of Aarhus - 2014

-or-never” effect; either donations are made immediately or not at all. In line with the “avoiding-the-ask” theory, both shorter …

Persistent link: https://www.econbiz.de/10010851162

Field Experiments in Economics: Comment on an article by Levitt and List

Ziliak, Stephen T. - School of Economics and Management, University of Aarhus - 2011

valid justification for use of Student‘s test of significance. Finally, they claim that the theory of the firm will be …

Persistent link: https://www.econbiz.de/10009150018

Modelling and Forecasting Multivariate Realized Volatility

Chiriac, Roxana; Voev, Valeri - School of Economics and Management, University of Aarhus - 2008

-order dominate returns of portfolios optimized on the basis of traditional MGARCH models. This result implies that any risk …

Persistent link: https://www.econbiz.de/10005440044

Return predictability and intertemporal asset allocation: Evidence from a bias-adjusted VAR model

Engsted, Tom; Pedersen, Thomas Q. - School of Economics and Management, University of Aarhus - 2008

parameter estimates are adjusted for small-sample bias. We apply the analytical bias formula from Pope (1990) using both … VAR parameters for small-sample bias has both quantitatively and qualitatively important e¤ects on the strategic … intertemporal part of optimal portfolio choice, especially for bonds: for intermediate values of risk-aversion, the intertemporal …

Persistent link: https://www.econbiz.de/10005440049

Roughing up Beta: Continuous vs. Discontinuous Betas, and the Cross-Section of Expected Stock Returns

Bollerslev, Tim; Li, Sophia Zhengzi; Todorov, Viktor - School of Economics and Management, University of Aarhus - 2014

and overnight returns entail significant risk premiums, while the intraday continuous beta is not priced in the cross … significant average excess returns. These higher risk premiums for the discontinuous and overnight market betas remain significant …

Persistent link: https://www.econbiz.de/10011096184

Effects of Macroeconomic Uncertainty upon the Stock and Bond Markets

Asgharian, Hossein; Christiansen, Charlotte; Hou, Ai Jun - School of Economics and Management, University of Aarhus - 2015

In this paper we show that the long-run stock and bond volatility and the long-run stock-bond correlation depend on macroeconomic uncertainty. We use the mixed data sampling (MIDAS) econometric approach. The findings are in accordance with the flight-to-quality phenomenon when macroeconomic...

Persistent link: https://www.econbiz.de/10011207886

Do More Economists Hold Stocks?

Christiansen, Charlotte; Joensen, Juanna Shröter; … - School of Economics and Management, University of Aarhus - 2005

A unique data set enables us to test the hypothesis that more economists than otherwise identical investors hold stocks due to informational advantages. We confirm that economists have a significantly higher probability of participating in the stock market than investors with any other...

Persistent link: https://www.econbiz.de/10010851160

Macro-Finance Determinants of the Long-Run Stock-Bond Correlation: The DCC-MIDAS Specification

Asgharian, Hossein; Christiansen, Charlotte; Hou, Ai Jun - School of Economics and Management, University of Aarhus - 2014

We investigate the long-run stock-bond correlation using a novel model that combines the dynamic conditional correlation model with the mixed-data sampling approach. The long-run correlation is affected by both macro-finance variables (historical and forecasts) and the lagged realized...

Persistent link: https://www.econbiz.de/10010851206