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Worry and the illusion of safety : evidence from a real-objects experiment
Schade, Christian D.; Kunreuther, Howard - 2002
report on the results of a controlled experiment with real objects at stake. Worry was measured with the Worry Domains …
Persistent link: https://www.econbiz.de/10009621419
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Learning to like what you have : explaining the endowment effect
Huck, Steffen; Kirchsteiger, Georg; Oechssler, Joerg - 1997
The endowment effect describes the fact that people demand much more to give up an object than they are willing to …
Persistent link: https://www.econbiz.de/10009657123
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Low-probability insurance decisions : the role of concern
Schade, Christian D.; Kunreuther, Howard; Kaas, Klaus Peter - 2002
On the basis of a real high stakes insurance experiment with small probabilities of losses, we demonstrate that concern … is a more important driver of WTP for insurance than subjective probability estimates when there is ambiguity surrounding … probability insurance "puzzle" well known from the literature, where a part of individuals pays too much and a part nothing for …
Persistent link: https://www.econbiz.de/10009621421
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Please, marry me! : an experimental study of risking a joint venture
Güth, Werner; Ivanova-Stenzel, Radosveta; Tjotta, Sigve - 1999
Empirical studies in family economics usually rely on questionnaires, statistical or panel data. Here we try to study experimentally some crucial aspects of engaging in a marriage. First the female partner can end the relationship or suggest one of the two forms of joint venture. Whereas a full...
Persistent link: https://www.econbiz.de/10009582415
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Correlated default with incomplete information
Giesecke, Kay - 2001
We propose a model of correlated multi-firm default with incomplete information. While public bond investors observe issuers' assets and defaults, we suppose that they are not informed about the threshold asset level at which a firm is liquidated. Bond investors form instead a prior on these...
Persistent link: https://www.econbiz.de/10009621426
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Efficient hedging : cost versus shortfall risk
Föllmer, Hans; Leukert, Peter - 1999
An investor faced with a contingent claim may eliminate risk by (super-)hedging in a financial market. As this is often quite expensive, we study partial hedges, which require less capital and reduce the risk. In a previous paper we determined quantile hedges which succeed with maximal...
Persistent link: https://www.econbiz.de/10009579176
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Coherent risk measures, valuation bounds, and (my,p)-portfolio optimization
Jaschke, Stefan R.; Küchler, Uwe - 1999
This paper presents a general theory that works out the relation between coherent risk measures, valuation bounds, and certain classes of portfolio optimization problems. It is economically general in the sense that it works for any cash stream spaces, be it in dynamic trading settings, one-step...
Persistent link: https://www.econbiz.de/10009581108
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Do Network Externalities Really Matter In Consumer Behavior ? Experimental Framework For Measuring Willingness To Pay For Network Size
Cadario, Romain; Le Nagard, Emmanuelle; Desmet, Pierre - Université Paris-Dauphine (Paris IX) - 2012
Consequences of network externalities, such as product growth and innovation diffusion, are widely studied in marketing literature. However, there is little empirical research that examines the existence of such network externalities in consumer behavior. When and how do consumers take into...
Persistent link: https://www.econbiz.de/10011072347
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Impact of Underlying Demand and Agglomeration of Supply on Seasonality: the Case of the Hollywood Film Industry
Cartier, Manuel; Liarte, Sébastien - Université Paris-Dauphine (Paris IX) - 2012
The authors argue that it is possible to break the demand for films into two types: the underlying demand accounted for … by audiences’ behaviours owing to events outside the film industry (vacations, climate, etc.); and demand due to the … studios exploit peaks in demand. Such agglomeration increases seasonality and could lead studios to overestimate the true …
Persistent link: https://www.econbiz.de/10010708168
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Optimal Demand for Contingent Claims when Agents have law Invariant Utilities
Dana, Rose-Anne; Carlier, Guillaume - Université Paris-Dauphine (Paris IX) - 2011
cumulative prospect theory (CPT). We show that the computation of demand for a contingent claim when utilities are within that …
Persistent link: https://www.econbiz.de/10011073758