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A Signaling Model of University Selection

Anic, Ivan; Bozin, Vladimir; Uroševic, Branko - 2016

We propose a signaling model of student enrollment dynamics based on probabilities of completion of studies, under different rationality assumptions. There are two types of students and two schools. School of graduation serves as a signal of student productivity to prospective employers. The...

Persistent link: https://www.econbiz.de/10011431282

Occupation Growth, Skill Prices, and Wage Inequality

Böhm, Michael J.; von Gaudecker, Hans-Martin; Schran, Felix - 2019

This paper studies the relationship between changes in occupational employment, occupational wages, and rising overall wage inequality. Using long-running administrative panel data with detailed occupation codes, we first document that in all occupations, entrants and leavers earn lower wages...

Persistent link: https://www.econbiz.de/10012141078

Insurance for Catastrophes - Indemnity vs. Parametric Insurance with Imperfect Information

Feess, Eberhard; Jordan, Cathrin; Noy, Ilan - 2022

Insurance for natural hazards - earthquakes, hurricanes, or pandemics - is rarely comprehensively adopted without …. Efforts to close this insurance gap include the introduction of parametric (index) insurance products for various catastrophic … risks. We compare parametric to indemnity insurance in a simple model where the insurance company has superior information …

Persistent link: https://www.econbiz.de/10013296268

Disappointment Aversion and Social Comparisons in a Real-Effort Competition

Gaechter, Simon; Huang, Lingbo; Sefton, Martin - 2017

We present an experiment to investigate the source of disappointment aversion in a sequential real-effort competition. Specifically, we study the contribution of social comparison effects to the disappointment aversion previously identified in a two-person real-effort competition (Gill and...

Persistent link: https://www.econbiz.de/10011698656

Measuring strategic uncertainty in coordination games

Heinemann, Frank; Nagel, Rosemarie; Ockenfels, Peter - 2004

This paper explores three aspects of strategic uncertainty: its relation to risk, predictability of behavior and subjective beliefs of players. In a laboratory experiment we measure subjects? certainty equivalents for three coordination games and one lottery. Behavior in coordination games is...

Persistent link: https://www.econbiz.de/10010261109

Correlation Neglect in Belief Formation

Enke, Benjamin; Zimmermann, Florian - 2013

Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such contexts many people neglect these correlations in the updating process and treat correlated information as independent. In...

Persistent link: https://www.econbiz.de/10010328793

Norms and Guilt

Danilov, Anastasia; Khalmetski, Kiryl; Sliwka, Dirk - 2018

It has been argued that guilt aversion (the aversion to violate others’ expectations) and the compliance to descriptive social norms (the aversion to act differently than others in the same situation) are important drivers of human behavior. We show in a formal model that both motives are...

Persistent link: https://www.econbiz.de/10011872056

Motivated Procrastination

Cordes, Charlotte; Friedrichsen, Jana; Schudy, Simeon - 2024

Procrastination is often attributed to time-inconsistent preferences but may also arise when individuals derive anticipatory utility from holding optimistic beliefs about their future effort costs. This study provides a rigorous empirical test for this notion of 'motivated procrastination'. In a...

Persistent link: https://www.econbiz.de/10014534328

Reverse Bayesianism: Revising Beliefs in Light of Unforeseen Events

Becker, Christoph K.; Melkonyan, Tigran; Proto, Eugenio; … - 2020

Bayesian Updating is the dominant theory of learning in economics. The theory is silent about how individuals react to events that were previously unforeseeable or unforeseen. Recent theoretical literature has put forth axiomatic frameworks to analyze the unknown. In particular, we test if...

Persistent link: https://www.econbiz.de/10012425568

Reverse Bayesianism : Revising Beliefs in Light of Unforeseen Events

Becker, Christoph K.; Melkonyan, Tigran; Proto, Eugenio; … - 2021

Bayesian updating is the dominant theory of learning. However, the theory is silent about how individuals react to events that were previously unforeseeable or unforeseen. Building on a recently developed axiomatic framework to analyze such situations, we test if subjects update their beliefs...

Persistent link: https://www.econbiz.de/10013227484

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