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A psychological approach to individual differences in intertemporal consumption patterns
Brandstätter, Hermann; Güth, Werner - 1998
When people decide about saving and consumption across the various periods of their life time they take into account their life expectancy when comparing present and future needs and resources for satisfying them. The experimental design, applied at two sites (Humboldt-University at Berlin and...
Persistent link: https://www.econbiz.de/10009578010
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Presents or investments? : an experimental analysis
Genîzî, Ûrî; Güth, Werner; Verboven, Frank - 1998
.’s investment game by introducing an upper bound to what a contributor can be repaid afterwards. By varying this upper bound …
Persistent link: https://www.econbiz.de/10009578011
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On saving and investing : an experimental study of intertemporal decision making in a complex stochastic environment
Anderhub, Vital; Güth, Werner; Knust, Florian - 2000
The experimental situation presents a complex stochastic intertemporal allocation problem. First, two initial chance moves select one of three possible termination probabilities which then determines whether "life" lasts 3,4,5, or 6 periods. Compared to Anderhub et al. (1997) participants are...
Persistent link: https://www.econbiz.de/10009582396
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Optimal consumption choice for ratchet investors
Riedel, Frank - 2001
The utility maximization problem of "ratchet investors" who do not tolerate any decline in their consumption rate is solved explicitly for all felicity functions in a Markovian framework which includes Brownian motion and Poisson processes as special cases. The optimal consumption plan turns out...
Persistent link: https://www.econbiz.de/10009616776
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Trust and reciprocity in the investment game with indirect reward
Güth, Werner; Königstein, Manfred; Marchand, Nadège; … - 2000
contracting is infeasible. One example is the study by Berg et al. (1995) of the investment game. In this game the person who … receives the investment is the one who may reward the investor. This is a direct reward game. Similar to Dufwenberg et al … investor may only be rewarded by a third person who did not receive his investment. Furthermore we investigate the influence of …
Persistent link: https://www.econbiz.de/10009612013
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Internet based econometric computing
Härdle, Wolfgang; Horowitz, Joel - 1998
Modern econometrics requires implementation of highly specialized software. In contrast to mathematical arguments used in implementing new econometric techniques the corresponding software algorithms require specific platforms. The specialization of hardware and software, in fact, seriously...
Persistent link: https://www.econbiz.de/10009578024
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Neoclassical convergence versus technological catch-up : a contribution for reaching a consensus
Desdoigts, Alain - 2000
world income distribution dynamics. Formal statistical hypothesis tests allow us to discriminate between two competing … evidence suggests that the high social returns to investment in equipment (as opposed to structure) reflect technology transfer … contributes to the polarization of the world income distribution. -- economic growth ; neoclassical convergence ; technological …
Persistent link: https://www.econbiz.de/10009583880
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Growth regression and counterfactual income dynamics
Desdoigts, Alain - 2000
Persistent link: https://www.econbiz.de/10009611551
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Quantile hedging
Föllmer, Hans; Leukert, Peter - 1998
In a complete financial market every contingent claim can be hedged perfectly. In an incomplete market it is possible to stay on the safe side by superhedging. But such strategies may require a large amount of initial capital. Here we study the question what an investor can do who is unwilling...
Persistent link: https://www.econbiz.de/10009574876
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On model based seasonal adjustment procedures
Breitung, Jörg - 1998
In this note the unobserved component approach underlying the software package SEATS is compared with the Beveridge-Nelson type of decomposition for seasonal time series. The main strength of the SEATS approach lies in the appealing model formulation and the careful specification and adjustment...
Persistent link: https://www.econbiz.de/10009574877