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Uncertainty and the Employment Dynamics of Small and Large Businesses

Ghosal, Vivek - 2014

We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based on the survey of professional forecasters, and regression-based forecasting models for GDP growth, inflation, S&P500 stock price index, and fuel prices. Our results indicate...

Persistent link: https://www.econbiz.de/10013043595

How Should Commodities be Taxed? A Counterargument to the Recommendation in the Mirrlees Review

Bastani, Spencer; Blomquist, Sören; Pirttilä, Jukka - CESifo - 2013

fully subsidises the cost of the good needed for working, then commodity taxation is uniform under the standard separability …

Persistent link: https://www.econbiz.de/10010877771

The Development of Egalitarianism, Altruism, Spite and Parochialism in Childhood and Adolescence

Fehr, Ernst; Rützler, Daniela; Sutter, Matthias - CESifo - 2011

We study how the distribution of other-regarding preferences develops with age. Based on a set of allocation choices, we can classify each of 717 subjects, aged 8 to 17 years, as either egalitarian, altruistic, or spiteful. Varying the allocation recipient as either an in-group or an out-group...

Persistent link: https://www.econbiz.de/10008853854

Explaining the Favorite-Longshot Bias : Is it Risk-Love or Misperceptions?

Snowberg, Erik - 2011

this phenomenon focus on rational gamblers who overbet longshots due to risk-love. The competing behavioral explanations …

Persistent link: https://www.econbiz.de/10013133607

Expectations as Reference Points : Field Evidence from Experienced Subjects in a Competitive, High-Stakes Environment

Bartling, Björn - 2012

We show that professional soccer players exhibit reference-dependent behavior during matches. Controlling for the state of the match and for unobserved heterogeneity, we show on a minute-by-minute basis that a player breaches the rules of the game, measured by the referee's assignment of cards,...

Persistent link: https://www.econbiz.de/10013105143

Poverty and Welfare Measurement on the Basis of Prospect Theory

Jantti, Markus - 2013

This paper examines the measurement of social welfare, poverty and inequality taking into account reference-dependence, loss aversion and diminishing sensitivity — aspects emphasized in Prospect Theory — to social welfare measurement. We suggest a new notion of equivalent income, the income...

Persistent link: https://www.econbiz.de/10013086978

Loss Aversion and Ex Post Inefficient Renegotiation

Herweg, Fabian - 2013

We propose a theory of ex post inefficient renegotiation that is based on loss aversion. When two parties write a long-term contract that has to be renegotiated after the realization of the state of the world, they take the initial contract as a reference point to which they compare gains and...

Persistent link: https://www.econbiz.de/10013089184

Risk Aversion as a Perceptual Bias

Khaw, Mel - 2017

The theory of expected utility maximization (EUM) proposed by Bernoulli explains risk aversion as a consequence of … from the terms offered; and subjects often appear to be too risk averse with regard to small gambles (while still accepting … from judgments based on imprecise (and noisy) mental representation of the decision situation. In this model, risk aversion …

Persistent link: https://www.econbiz.de/10012956867

Going Green : Framing Effects in a Dynamic Coordination Game

Gerlagh, Reyer - 2015

We experimentally study decision-making in a novel dynamic coordination game. The game captures features of a transition between externality networks. Groups consisting of three subjects start in a stable benchmark equilibrium with network externality. Over seven rounds, they can transit to an...

Persistent link: https://www.econbiz.de/10013009866

Charitable Giving and Nonbinding Contribution-Level Suggestions Evidence from a Field Experiment

Adena, Maja - 2014

When asking for donations, charitable organizations often use suggestions concerning the amount of potential contributions. In our randomized field experiment, opera visitors received solicitation letters asking to support a social youth project organized by the opera house. The three different...

Persistent link: https://www.econbiz.de/10013057248

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