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Abstract: We report results from an asset market experiment, in which we investigate how the time path of the …
Persistent link: https://www.econbiz.de/10011091308
We study social preferences in a three-person ultimatum game experiment with one proposer and two responders … preferences are not able to organize our data. …
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This paper extends the definition of the nucleolus to stochastic cooperative games, that is, to cooperative games with random payoffs to the coalitions. It is shown that the nucleolus is nonempty and that it belongs to the core whenever the core is nonempty. Furthermore, it is shown for a...
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Risk premia in the consumption capital asset pricing model depend on preferences and dividend. We develop a … decomposition which allows a separate treatment of both components. We show that preferences alone determine the risk …-return tradeoff measured by the Sharpe-ratio. In general, the risk-return trade-off implied by preferences depends on the elasticity …
Persistent link: https://www.econbiz.de/10011090587
"Hyperbolic discount functions are characterized by a relatively high discount rate over short horizons and a relatively low discount rate over long horizons" (Laibson 1997).We suggest two cognitive procedures where individuals perceive future utility as decreasing at a decreasing rate as a...
Persistent link: https://www.econbiz.de/10011090635
Preferences of a set of n individuals over a set of alternatives can be represented by a preference profile being an n …
Persistent link: https://www.econbiz.de/10011092117
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