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Optimal Saving Rules for Loss-Averse Agents under Uncertainty

Siegmann, Arjen H. - Tinbergen Instituut - 2001

two-period consumption and savings model for a loss-averse agent who measures utilityfrom consumption relative to a … of the return on saving. We find non-linearity in the fractionof wealth saved, where the specific saving pattern depends … on the sign of the real return on savings. The amount of saving is nondecreasing in initial wealth and the riskiness of …

Persistent link: https://www.econbiz.de/10011255497

Mapping the Minds of Retirement Planners

Hershey, Douglas A.; Henkens, Kène; Dalen, Hendrik P. van - Tinbergen Instituut - 2006

This study explored the psychological mechanisms that underlie the retirement planning and saving tendencies of Dutch … considering pension reforms that stress individual responsibility for planning and saving. …

Persistent link: https://www.econbiz.de/10011256396

Capital Markets Integration, Growth and Income Distribution: A Dynamic Analysis

Viaene, Jean-Marie; Zilcha, Itzhak - Tinbergen Instituut - 1997

See also the publication in the European Economic Review, 2002, 301-327. The paper considers a two-country model of overlapping generations heterogenouseconomies with intergenerational transfers carried out in the form of bequest and investmentin human capital. We examine in competitive...

Persistent link: https://www.econbiz.de/10011261919

Human Capital Formation, Income Inequality and Growth

Viaene, Jean-Marie; Zilcha, Itzhak - Tinbergen Instituut - 2001

The paper studies the determinants of income distribution and growth in an overlapping generations economy withheterogenous households. Our framework has the following main features:heterogeneity of consumers with respect to wealth and parental human capital;intergenerational transfers,...

Persistent link: https://www.econbiz.de/10011261934

Comparative Analysis of Litigation Systems: An Auction-Theoretic Approach

Baye, Michael R.; Kovenock, Dan; Vries, Casper G. de - Tinbergen Instituut - 2000

A simple auction-theoretic framework is used to examine symmetric litigation environments where the legal ownership of a disputed asset is unknown to the court. The court observes only the quality of the case presented by each party, and awards the asset to the party presenting the best case....

Persistent link: https://www.econbiz.de/10011256628

Inciting Protocols - How International Environmental Agreements Trigger Knowledge Transfers

Dekker, Thijs; Vollebergh, Herman R.J.; Vries, Frans P. de - Tinbergen Instituut - 2009

investment uncertainty for inventing firms. …

Persistent link: https://www.econbiz.de/10011256661

Herding, A-synchronous Updating and Heterogeneity in Memory in a CBS

Diks, Cees; Weide, Roy van der - Tinbergen Instituut - 2003

This paper considers a simple Continuous Beliefs System (CBS) toinvestigate the effects on price dynamics of several behavioralassumptions: (i) herd behaviour; (ii) a-synchronous updating ofbeliefs; and (iii) heterogeneity in time horizons (memory) amongagents. The recently introduced concept of...

Persistent link: https://www.econbiz.de/10011256802

An Optimal Signaling Equilibrium

Karamychev, Vladimir; Visser, Bauke - Tinbergen Instituut - 2011

This paper analyses the optimal combination of costly and costless messages that a Sender uses in a signaling game if he is able to choose among all equilibrium communication strategies. We provide a complete characterization of the equilibrium that maximizes the Sender's ex ante expected...

Persistent link: https://www.econbiz.de/10011257422

Is Earnings Uncertainty Relevant for Educational Choice? An Empirical Analysis for China

Hartog, Joop; Ding, Xiaohao; Liao, Juan - Tinbergen Instituut - 2011

We use the method of Dominitz and Manski (1996) to solicit anticipated wagedistributions for continuing to a Master degree or going to work after completing theBachelor degree. The means of the distributions have an effect on intention to continue aspredicted by theory. The dispersions in these...

Persistent link: https://www.econbiz.de/10011255957

Price versus Quantity Discrimination in Optimal IPOs

Bennouri, Moez; Falconieri, Sonia - Tinbergen Instituut - 2001

This paper addresses the issue of the choice of the optimalinstrument to sell new shares, this choice being price versusquantity discrimination (rationing). Previous results in theliterature (Benveniste and Wilhelm, 1990) show that the issuing firmwould be better off if allowed to use both price...

Persistent link: https://www.econbiz.de/10011256046