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Emotions were central to the development of economics, especially in utility theory in classical economics. While … neoclassical utility theory basically abolished emotions, behavioural economics more recently reintroduced emotions in utility … theory. Beyond utility theory, economic theorists use emotions to explain behaviour which otherwise could not be understood …
Persistent link: https://www.econbiz.de/10011499845
automatic. We predict the occurrence of uncontrolled coping .emotional outbursts .as a function of an individual's theory … not go hand in hand with rising stress. First steps towards a theory of therapy show how stressed individuals can improve …
Persistent link: https://www.econbiz.de/10011819320
Persistent link: https://www.econbiz.de/10003688959
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The standard loss function counts both positive and negative deviations from the output and inflation targets as losses. But if the sample period is long enough, then output growth in excess of the target, and often also inflation rates that are below target, should be counted as gains instead...
Persistent link: https://www.econbiz.de/10011541188
to STAR1). We then perform an unconditional and conditional portfolio performance evaluation. In both cases the evidence …-Rating System ; CAPM ; conditional and unconditional portfolio performance evaluation …
Persistent link: https://www.econbiz.de/10003817961
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/10014384016
Institutions are important for proper economic performance, but are replaceable by trust or other social norms. We show that when proper institutions and trust are missing, integrity of the individuals can replace them. We construct a model of a transactions-based economy with contracts...
Persistent link: https://www.econbiz.de/10003872201
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Trust games are employed to investigate the effect of heterogeneity in income and race on cooperation in South Africa. The amount of socio-economic information available to the subjects about their counterparts is varied. No significant behavioural differences are observed, when no such...
Persistent link: https://www.econbiz.de/10003301019