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Overconfidence in investment decisions : an experimental approach
Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - 2001
We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute their own for alternative investment choices. Overall, 149 subjects participated in two experiments, one with just one risky asset, the other with two risky assets. Overconfidence...
Persistent link: https://www.econbiz.de/10011408444
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Insensitive investors
Charles, Constantin; Frydman, Cary; Kilic, Mete - 2022
We show theoretically that the weak transmission of beliefs to actions induces a strong bias in basic asset pricing tests. In particular, expected returns can appear to decline in risk when investors weakly transmit their payoff expectations into willingness to pay. We experimentally test this...
Persistent link: https://www.econbiz.de/10013440420
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Export decision under risk
Sousa, José de; Disdier, Anne-Célia; Gaigné, Carl - 2016
Using firm and industry data, we establish two facts: (i) Uncertainty about demand conditions not only reduces export sales and exporting probabilities but also makes exports less sensitive to trade policy; (ii) the most productive exporters are more affected by higher industry-wide expenditure...
Persistent link: https://www.econbiz.de/10011547934
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Estimating individual ambiguity aversion : a simple approach
Genîzî, Ûrî; Imas, Alex; List, John A. - 2015
as the importance of joint estimation. In addition, over our stakes levels we find no difference in the estimated …
Persistent link: https://www.econbiz.de/10010483592
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Term structure and cyclicity of value-at-risk : consequences for the solvency capital requirement
Bec, Frédérique; Gollier, Christian - 2009
the European rules regarding the solvency capital requirements for insurance companies should adapt to the state of the …
Persistent link: https://www.econbiz.de/10003824669
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World equity premium based risk aversion estimates
Pozzi, Lorenzo C. G.; Vries, Casper G. de; Zenhorst, Jorn - 2010
The equity premium puzzle holds that the coefficient of relative risk aversion estimated from the consumption based CAPM under power utility is excessively high. Moreover, estimates in the literature vary considerably across countries. We gauge the uncertainty pertaining to the country risk...
Persistent link: https://www.econbiz.de/10003998052
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Asymmetric labor supply responses to taxation
Esslinger, Anna; Pfeil, Katharina; Feld, Lars P. - 2024 - This version: August 26, 2024
Are the effects of tax aversion on labor supply symmetric? In a real-effort online experiment, participants are exposed to manipulated wages and taxes after first experiencing the same reference wage. More participants change their labor supply when encountering a tax increase than when...
Persistent link: https://www.econbiz.de/10015057692
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Large-scale disasters and the insurance industry
Krämer, Walter (contributor);  … - 2008
Persistent link: https://www.econbiz.de/10003647290
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Remittances, banking status and the usage of insurance schemes
Crayen, Dorothee; Hainz, Christa; Ströh de Martínez, … - 2010
can be used to self-insure, substituting for both formal and informal insurance. We investigate this question using a … remittances, which supports the idea that remittances act as (self-) insurance. We also show that purchasing formal funeral cover … is influenced by other risk management strategies and that determinants of informal insurance differ from those of formal …
Persistent link: https://www.econbiz.de/10003983213
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The nature of risk preferences : evidence from insurance choices
Barseghyan, Levon; Molinari, Francesca; O'Donoghue, Ted; … - 2012
We use data on insurance deductible choices to estimate a structural model of risky choice that incorporates "standard …
Persistent link: https://www.econbiz.de/10009621724