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Reference points and effort provision
Abeler, Johannes; Falk, Armin; Götte, Lorenz; Huffman, … - 2009
. -- Reference points ; expectations ; loss aversion ; risk aversion ; disappointment ; experiment …
Persistent link: https://www.econbiz.de/10003818032
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Social security reform and temptation
Kumru, Cagri Seda; Thanopoulos, Athanasios C. - 2009
This paper analyzes a fully funded social security system under the assumption that agents face temptation issues. Agents are required to save through individually managed Personal Security Accounts without, and with mandatory annuitization. When the analysis is restricted to CRRA preferences...
Persistent link: https://www.econbiz.de/10003883856
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Evaluating real world income distributions behind the veil of ignorance : how risk averse do you have to be to prefer Europe over the US?
Weichenrieder, Alfons J.; Zafar, Tasneem - 2011
corrected income rankings. While a risk neutral individual (based on year 2000 data) would have preferred to be born into the US … rather than any European country in our sample except Luxembourg, a coefficient of relative risk aversion of 2 suffices to … make several European countries look preferable. The paper also sheds light on the risk corrected average income on a …
Persistent link: https://www.econbiz.de/10009375066
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Evidence on individual preferences for longevity risk
Delprat, Gae͏̈tan; Leroux, Marie-Louise; Michaud, … - 2013
The standard model of intertemporal choice assumes risk neutrality toward the length of life: due to additivity, agents … Panel (ALP), this paper provides empirical evidence on possible deviation from risk neutrality with respect to longevity in … the U.S. population. The questions we ask allow to find the distribution as well as to quantify the degree of risk …
Persistent link: https://www.econbiz.de/10009730526
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A model of reference-dependent belief updating
Maier, Johannes K.; König, Clemens - 2016
We propose a model of instrumental belief choice under loss aversion. When new information arrives, an agent is prompted to abandon her prior. However, potential posteriors may induce her to take actions that generate a lower utility in some states than actions induced by her prior. These losses...
Persistent link: https://www.econbiz.de/10011557745
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Risk management of pension systems from the perspective of loss aversion
Binswanger, Johannes (contributor) - 2005
This paper studies pension design from a risk management point of view using a lexicographic loss aversion model …
Persistent link: https://www.econbiz.de/10003202882
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School choice and loss aversion
Meisner, Vincent; Wangenheim, Jonas von - 2021
Evidence suggests that participants in direct student-proposing deferred-acceptance mechanisms (DA) play dominated strategies. To explain the data, we introduce expectation-based loss aversion into a school-choice setting and characterize choice-acclimating personal equilibria in DA. We find...
Persistent link: https://www.econbiz.de/10012698801
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The endowment effect in the general population
Fehr, Dietmar; Kübler, Dorothea - 2022
We study the endowment effect and expectation-based reference points in the field leveraging the setup of the Socio-Economic Panel. Households receive a small item for taking part in the panel, and we randomly assign respondents either a towel or a notebook, which they can exchange at the end of...
Persistent link: https://www.econbiz.de/10013472430
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From partisanship to preference : how identity shapes dependence aversion
Freundt, Jana; Herz, Holger - 2024
We study how individuals’ willingness to delegate choice is affected by heterogeneity in identity between the delegee and the delegate. While it is straightforward that such heterogeneity can affect delegation for instrumental reasons, we show experimentally that divergent identity also causes...
Persistent link: https://www.econbiz.de/10015051753
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The missing type : where are the inequality averse (students)?
Epper, Thomas; Senn, Julien; Fehr, Ernst - 2024
The empirical evidence on the existence of social preferences—or lack thereof—is predominantly based on student samples. Yet, knowledge about whether these findings can be extended to the general population is still scarce. In this paper, we compare the distribution of social preferences in...
Persistent link: https://www.econbiz.de/10014502446