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Uncertainty and Information: An Expository Essay
Singh, Nirvikar - Volkswirtschaftliche Fakultät, … - 2010
. The coverage includes decision-making under uncertainty, measuring risk and risk aversion, insurance and asset markets …
Persistent link: https://www.econbiz.de/10008529287
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Risk aversion influence on insurance market
Raduna, Daniela Viviana; Roman, Mihai Daniel - Volkswirtschaftliche Fakultät, … - 2011
Human behavior, rational or irrational one, influences one of the most complex markets worldwide: the insurance market …. In most situations, insurance markets are not competitive and risk neutral insurers negotiate under asymmetric … an insurance contract under risk aversion conditions (in static and dynamic approach). Risk aversion influence was …
Persistent link: https://www.econbiz.de/10011257794
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Experimental Comparison of Multi-Stage and One-Stage Contests
Sheremeta, Roman - Volkswirtschaftliche Fakultät, … - 2009
This article experimentally studies a two-stage elimination contest and compares its performance with a one-stage contest. Contrary to the theory, the two-stage contest generates higher revenue than the equivalent one-stage contest. There is significant over-dissipation in both stages of the...
Persistent link: https://www.econbiz.de/10011258638
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Resource Allocation Contests: Experimental Evidence
Shupp, Robert; Sheremeta, Roman - Volkswirtschaftliche Fakultät, … - 2013
Many resource allocation contests have the property that individuals undertake costly actions to appropriate a potentially divisible resource. We design an experiment to compare individuals’ decisions across three resource allocation contests which are isomorphic under risk-neutrality. The...
Persistent link: https://www.econbiz.de/10011259038
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Employer’s moral hazard and wage rigidity
albanese, marina; navarra, cecilia; Tortia, Ermanno - Volkswirtschaftliche Fakultät, … - 2013
The standard explanation of wage rigidity in principal agent and in efficiency wage models is related to worker risk-aversion. However, these explanations do not consider at least two important classes of empirical evidence: (1) In worker cooperatives workers appear to behave in a less risk...
Persistent link: https://www.econbiz.de/10011260540
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Identifying product attributes and consumer attitudes that impact willingness-to-pay for a nutraceutical-rich juice product
Lawless, Lydia J.R.; Drichoutis, Andreas; Nayga, Rodolfo; … - Volkswirtschaftliche Fakultät, … - 2012
A non-hypothetical Becker–DeGroot–Marschak (BDM) auction-like mechanism was utilized to determine consumer characteristics, attitudinal factors, and product sensory attributes that affect willingness-to-pay (WTP) for a nutraceutical-rich juice blend (75%Concord+12%Pomegranate+13%Black...
Persistent link: https://www.econbiz.de/10011260634
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Overconfidence, Risk Aversion and Individual Financial Decisions in Experimental Asset Markets
Michailova, Julija - Volkswirtschaftliche Fakultät, … - 2010
We investigate the influence of overconfidence and risk aversion on individual financial decision making in the experimental asset markets of the Smith, Suchanek and Williams (1988) type, with no informational asymmetries. Subjects, based on their pre-experimental overconfidence scores, were...
Persistent link: https://www.econbiz.de/10011266111
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Overconfidence and bubbles in experimental asset markets
Michailova, Julija; Schmidt, Ulrich - Volkswirtschaftliche Fakultät, … - 2011
This paper investigates the relationship between market overconfidence and occurrence of stock-price bubbles. Sixty participants traded stocks in ten experimental asset markets. Markets were constructed on the basis of subjects’ overconfidence: The most overconfident subjects form high...
Persistent link: https://www.econbiz.de/10011266117
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Monopolistic Competition and New Products: A Conjectural Equilibrium Approach
Bogliacino, F; Rampa, G - Volkswirtschaftliche Fakultät, … - 2009
In this paper we generalize the heterogeneous risk adverse agents model of diffusion of new products in a multi-firm, heterogeneous and interacting agents environment. We use a model of choice under uncertainty based on Bayesian theory. We discuss the possibility of product failures, the set of...
Persistent link: https://www.econbiz.de/10005014742
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A Note on the Two-fund Separation Theorem
Wenzelburger, Jan - Volkswirtschaftliche Fakultät, … - 2008
This note contains two remarks on the traditional capital asset pricing model (CAPM) with one risk-free asset. Firstly, an elementary proof of the two-fund separation theorem is provided showing that asset-demand may become undefined if the limiting slope of the investor's indifference curves is...
Persistent link: https://www.econbiz.de/10005260078