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We analyse risk preferences using an experiment with real incentives in a representative sample of 1,422 Dutch respondents. Our econometric model incorporates four structural parameters that vary with observed and unobserved characteristics: Utility curvature, loss aversion, preferences towards...
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welfare, both for a small open economy and for a closed economy.The economy consists of a service sector and a commodity …-run growth and thus welfare in a small open economy, whereas current generations are better off.However, reducing social security …
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employment protection focusing on this trade-off between adjustment costs and productivity.We show that from a welfare point of …
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resource allocation, welfare and policy.We argue that the most robust implications are those that flow directly from the high …
Persistent link: https://www.econbiz.de/10011091240
that stands comparison to the rigor by which the first and second welfare theorems are derived is lacking.We first prove a …
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If decision-makers (DMs) do not always do what is in their best interest, what do choices reveal about welfare? This … divergence between choice and welfare, state an existence result for incomplete preferences and show that the choices of …
Persistent link: https://www.econbiz.de/10011091784