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Adverse selection in the annuity market with sequential and simultaneous insurance demand
Brunner, Johann K.; Pech, Susanne - 2002
This paper investigates the effect of adverse selection on the private annuity market in a model with two periods of retirement. In order to introduce the existence of limited-time pension insurance, we assume that for each period of retirement separate contracts can be purchased. Demand for the...
Persistent link: https://www.econbiz.de/10011541030
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Strategic complementarity, fragility, and regulation
Vives, Xavier - 2011 - Rev. May 2011
The paper analyzes a very stylized model of crises and demonstrates how the degree of strategic complementarity in the actions of investors is a critical determinant of fragility. It is shown how the balance sheet composition of a financial intermediary, parameters of the information structure...
Persistent link: https://www.econbiz.de/10009230899
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Strategic trading with asymmetrically informed traders and long-lived information
Foster, F. Douglas - In: Journal of financial and quantitative analysis : JFQA 29 (1994) 4, pp. 499-518
Persistent link: https://www.econbiz.de/10001175122
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On the sensitivity of collective action to uncertainty about climate tipping points
Barrett, Scott; Dannenberg, Astrid - 2014
threshold is uncertain. Theory suggests that behavior should differ dramatically either side of a dividing line for threshold …
Persistent link: https://www.econbiz.de/10010249688
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IMF surveillance and financial markets : a political economy analysis
Fratzscher, Marcel; Reynaud, Julien - 2010
The International Monetary Fund (IMF) is in the process of re-inventing itself with bilateral and multilateral surveillance emerging as a key function. The paper analyses how IMF surveillance announcements may be influenced by political power that member countries exert at the IMF. First, we...
Persistent link: https://www.econbiz.de/10003976542
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Adverse selection vs discrimination risk with genetic testing : an experimental approach
Bardey, David; De Donder, Philippe; Mantilla, Cesar - 2014
exogenous values of adverse selection under Consent Law, and the repeated interactions experiment devised has not resulted in …
Persistent link: https://www.econbiz.de/10010433974
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Unleashing animal spirits : self-control and overpricing in experimental asset markets
Kocher, Martin; Lucks, Konstantin E.; Schindler, David - 2016
acting on them. We implement the first experiment that is able to address a potential causal relationship between self …
Persistent link: https://www.econbiz.de/10011444434
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Diagnostic uncertainty and insurance coverage in credence goods markets
Balafoutas, Loukas; Fornwagner, Helena; Kerschbamer, Rudolf - 2020
framework. We test the model’s predictions in a laboratory experiment. Both in theory and in the experiment diagnostic … uncertainty decreases the rate of efficient service provision and leads to less trade. In theory, insurance also decreases the … net effect on welfare. In the experiment, the net effect of insurance coverage on efficiency turns out to be positive. We …
Persistent link: https://www.econbiz.de/10012312079
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Risk exposure and acquisition of macroeconomic information
Roth, Christopher; Settele, Sonja; Wohlfart, Johannes - 2020
We conduct an experiment with a representative sample from the US to study households’ demand for macroeconomic …
Persistent link: https://www.econbiz.de/10012300259
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International environmental agreements with uncertainty, learning and risk aversion
Finus, Michael; Pintassilgo, Pedro; Ulph, Alistair - 2014
This paper analyses the formation of international environmental agreements (IEAs) under uncertainty, focusing on the role of learning and risk aversion. It bridges two strands of literature: one focused on the role learning for the success of IEA formation when countries are risk neutral and...
Persistent link: https://www.econbiz.de/10010234539