Showing 1 - 10 of 11
This study develops three heuristics to measure financial optimism: financial expectation, a priori optimism, and a … posteriori optimism. This paper finds that financial optimism has a significant positive effect on risk taking behaviour …
Persistent link: https://www.econbiz.de/10010707593
This paper examines the debate over the gains from trade when international differences in the risk perception of heterogeneous managers provide the basis for trade: the relatively optimistic country exports the risky commodity whereas the relatively pessimistic country exports the certain...
Persistent link: https://www.econbiz.de/10010707793
-aversion, more risk-averse agents are more optimistic. This correlation between individual risk-aversion and optimism leads to a …
Persistent link: https://www.econbiz.de/10010708147
This paper investigates the welfare effects of international trade when technological idiosyncratic risk is distorted by optimistic and pessimistic managers. We show that free trade always improves the ex-ante welfare but sometimes lowers the ex-post welfare. Free trade commitment can be...
Persistent link: https://www.econbiz.de/10010708834
The aim of the paper is to analyze the impact of heterogeneous beliefs in an otherwise standard competitive complete market economy. The construction of a consensus probability belief, as well as a consensus consumer, are shown to be valid modulo an aggregation bias, which takes the form of a...
Persistent link: https://www.econbiz.de/10011166295
In this paper, we characterize subjective probability beliefs leading to a higher equilibrium market price of risk. We establish that Abel's result on the impact of doubt on the risk premium is not correct in general; see Abel [2002. An exploration of the effects of pessimism and doubt on asset...
Persistent link: https://www.econbiz.de/10010905355
Vulnerability–resilience indexes fail to grasp all dimensions of sustainability, whereas sustainable development has … gained momentum. We fill this gap with a hierarchical multimetric composite index (Net Vulnerability Resilience Index: NVRI … vulnerability and resilience are policy-responsive and that (ii) there is no determinism for a country to remain vulnerable or …
Persistent link: https://www.econbiz.de/10011228188
resilience. As debated in the economic literature, these territories present structural characteristics - smallness, remoteness … the results, but also to the validity of the used methodologies which appear contingent to the specific studied resilience …. A complete and new composite index of vulnerability and resilience is suggested in accordance with the following generic …
Persistent link: https://www.econbiz.de/10010707143
Several assessments of vulnerability and resilience have been attempted at a country level through composite indices … network of variables that depict vulnerability and resilience from a sustainable development perspective. Vulnerability is … defined as the propensity to incur adverse shocks whereas resilience is the capacity to cope with their negative effects. We …
Persistent link: https://www.econbiz.de/10010960555
Assessing the work of scholars is of great importance in the life of academic institutions, disciplines and scholars. Research suggests that that the notion of ‘scholarly influence’ should be substituted for current approaches towards judging scholarship (Truex et al. 2009). This paper seeks...
Persistent link: https://www.econbiz.de/10010706554