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A Two-Ball Ellsberg Paradox
Jabarian, Brian; Lazarus, Simon - 2023
We conduct an incentivized experiment on a nationally representative US sample (N=708) to test whether people prefer to avoid ambiguity even when it means choosing dominated options. In contrast to the literature, we find that 55% of subjects prefer a risky act to an ambiguous act that always...
Persistent link: https://www.econbiz.de/10014469392
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Uncertainty and the Employment Dynamics of Small and Large Businesses
Ghosal, Vivek; Ye, Yang - 2014
We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based … stock price index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of … non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on employment dynamics, we …
Persistent link: https://www.econbiz.de/10010435797
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Business Decision-Making under Uncertainty: Evidence from Employment and Number of Businesses
Ghosal, Vivek; Ye, Yang - 2013
uncertainty on firms' decisions and market outcomes. We construct alternative measures of uncertainty based on survey of … index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of employment and the … generally non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on firms' decisions …
Persistent link: https://www.econbiz.de/10010317004
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A Tractable Theory of Choice Based on Cell Behavior
Valdés-Edwards, Gonzalo; Valdés-Prieto, Salvador - 2013
This paper presents a choice model based on a model for the behavior of brain cells that is based on neurological findings. The paper shows that it is possible to define choice as the result of a series of interconnected cellular processes, instead of framing the problem from the point of view...
Persistent link: https://www.econbiz.de/10010328797
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Political Accountability and Real Authority of Government Bureaucracy
Dodlova, Marina - 2013
In a country with weak institutional constraints on the executive, the real power might belong to the government bureaucracy rather than to an autocratic leader. We combine the Aghion-Tirole definition of formal and real authority with the Barro-Ferejohn model of political agency to study the...
Persistent link: https://www.econbiz.de/10010328834
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Narratives and Valuations
Morag, Dor; Loewenstein, George - 2023
While the significance of narrative thinking has been increasingly recognized by social scientists, very little empirical research has documented its consequences for economically significant outcomes. The current paper addresses this gap in one important domain: valuations. In three...
Persistent link: https://www.econbiz.de/10014469561
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The Social Dilemma of Big Data: Donating Personal Data to Promote Social Welfare
Hillebrand, Kirsten; Hornuf, Lars - 2021
When using digital devices and services, individuals provide their personal data to organizations in exchange for gains in various domains of life. Organizations use these data to run technologies such as smart assistants, augmented reality, and robotics. Most often, these organizations seek to...
Persistent link: https://www.econbiz.de/10012581989
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Philosophers and Economists Can Agree on the Intergenerational Discount Rate and Climate Policy Paths
Nesje, Frikk; Drupp, Moritz A.; Freeman, Mark C.; Groom, Ben - 2022
The estimated values to society from long-term public projects, including climate change mitigation and infrastructure construction, are highly sensitive to the social discount rate (SDR) employed. Governmental guidance on social discounting has predominantly been based on input from expert...
Persistent link: https://www.econbiz.de/10013427716
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Anticipated Property Tax Increases and the Timing of Home Sales: Evidence from Administrative Data
Hoyt, William H.; Yelowitz, Aaron - 2016
Restrictions imposed on property assessment practices by state legislation such as Proposition 13 in California and … assessment suggesting that households adjust their mobility to capture the tax advantage associated with limited assessment. …
Persistent link: https://www.econbiz.de/10011584963
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Pharmaceutical Prices: The Impact of the Launch Strategy - An Analysis of German Data
Böhler, Yvonne-Beatrice; Lamping, Christian; Wichardt, … - 2019
benefit remains comparably small. Moreover, the data suggest that the assessment of the Federal Joint Committee - while not …
Persistent link: https://www.econbiz.de/10012141080