Showing 1 - 10 of 402
between risk and uncertainty is implemented by applying the Gilboa-Schmeidler maxmin with multiple priors framework to lenders …
Persistent link: https://www.econbiz.de/10009144737
We analyse an equilibrium model with restricted investor participation in which strategic arbitrageurs play an innovation game and exploit the resulting mispricings by reaping trading profits. Since the equilibrium asset structure is not chosen by a social planner, it is chosen to maximize...
Persistent link: https://www.econbiz.de/10005791699
reveal that higher margins have a much stronger negative relation to subsequent volatility in bull markets than in bear … systemic risk. These empirical regularities are consistent with the pyramiding-depyramiding framework of stock prices that US …
Persistent link: https://www.econbiz.de/10005123642
The paper reports the result of an experimental game on asset integration and risk taking. We find evidence that … winnings in earlier rounds affect risk taking in subsequent rounds, but no evidence that real life wealth outside the … experiment affects risk taking. We find some evidence of imitation of the risk taking behavior of others that is distinct from …
Persistent link: https://www.econbiz.de/10011084146
We analyse bidding behaviour in auctions when risk-averse buyers bid for a good whose value is risky. We show that when … risk in the valuations increases, DARA bidders will reduce their bids by more than the appropriate increase in the risk … marginal utility of income increases with risk, so buyers are reluctant to bid so highly. We also show that precautionary …
Persistent link: https://www.econbiz.de/10005114473
According to the favorite-longshot bias observed in pari-mutuel betting, the final distribution of bets overestimates the winning chance of longshots. This Paper proposes an explanation of this bias based on late betting by small privately informed bettors. These bettors have an incentive to...
Persistent link: https://www.econbiz.de/10005504377
Based on the Canadian National Population Health Survey we estimate the effects of individual sports and exercise on individual labor market outcomes. The data covers the period from 1994 to 2008. It is longitudinal and rich in life-style, health, and physical activity in-formation. Exploiting...
Persistent link: https://www.econbiz.de/10011083408
Based on a unique composite dataset measuring heterogeneous sports participation, labour market outcomes and local facilities provision, this paper examines for the first time the association between different types of sports participation on employment and earnings in England. Clear...
Persistent link: https://www.econbiz.de/10011083502
This paper studies the causes and consequences of in-season changes of the head-coach of association football teams. We exploit data from the highest level of Dutch professional football during 14 successive seasons. An in-season change of the head-coach depends on recent match results and the...
Persistent link: https://www.econbiz.de/10011083836
Can raising awareness of racial bias subsequently reduce that bias? We address this question by exploiting the widespread media attention highlighting racial bias among professional basketball referees that occurred in May 2007 following the release of an academic study. Using new data, we...
Persistent link: https://www.econbiz.de/10011084624