Showing 1 - 10 of 34
This paper proposes that risk aversion encourages individuals to invest in balanced skill profiles, making them more … the impacts both of risk aversion and balanced skills on the likelihood individuals choose entrepreneurship. Data on Dutch … university graduates provides evidence which supports this contention. It thereby raises the possibility that even risk …
Persistent link: https://www.econbiz.de/10009399735
In criminal cases the task of the judge is to transform the uncertainty about the facts into the certainty of the verdict. In this experiment we examine the relationship between evidence of which the strength is known, subjective probability of guilt and verdict for abstract cases. We look at...
Persistent link: https://www.econbiz.de/10005209452
Theoretical analyses of (optimal) performance measures are typically performed within the realm of the linear agency model. This model implies that, for a given compensation scheme, the agent’s optimal effort is unrelated to the amount of noise in the performance measure. In contrast,...
Persistent link: https://www.econbiz.de/10005209530
differences in risk premia. We deduct testable hypotheses on the basis of which we empirically analyze the impact of uncertainty …
Persistent link: https://www.econbiz.de/10005016252
period under delayed resolution (which involved two days). Affective traits and risk attitudes were measured through a web …This experimental study is concerned with the impact of the timing of the resolution of risk on people’s willingness to … inferred from decisions regarding hypothetical choice problems, we had participants put their own money at risk in a real …
Persistent link: https://www.econbiz.de/10005144438
outcomes experienced during the game. Risk aversion decreases after earlier expectations have been shattered by unfavorable …
Persistent link: https://www.econbiz.de/10005144515
An efficient and accurate approach is proposed for forecasting Value at Risk [VaR] and Expected Shortfall [ES] measures …
Persistent link: https://www.econbiz.de/10005144532
We consider a hierarchical organization with two fully rational agents. The goal of the organization is that of selecting the best alternative out of several available, and agents are heterogenous in the accuracy with which they screen the alternatives. We show that, if internal communications...
Persistent link: https://www.econbiz.de/10005144535
This paper analyses the behavior of an individual who wants to maximize his utility function, but he is not able to evaluate it. There are many ways to choose a single alternative from a given set. We show that a unique utility maximizing procedure exists. Choices induced by this optimal...
Persistent link: https://www.econbiz.de/10005144568
This paper is concerned with the role of committees in collective decision-making processes in a world where agents must be motivated to collect information. Committees improve the quality of decision-making by providing information and by coordinating the collection of information. We address...
Persistent link: https://www.econbiz.de/10005144571