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Inattention and switching costs as sources of inertia in medicare part D

Heiss, Florian; McFadden, Daniel; Winter, Joachim; … - 2019

Consumers' health plan choices are highly persistent even though optimal plans change over time. This paper separates two sources of inertia, inattention to plan choice and switching costs. We develop a panel data model with separate attention and choice stages, linked by heterogeneity in...

Persistent link: https://www.econbiz.de/10012139521

Investor responses to information updates on peer behavior and public investment policy : the case of green investments

Alt, Marius; Berger, Marius; Bersch, Johannes - 2023 - This version: May, 2023

Green startups are a major driver of eco-innovation and as such a major contributor to climate change mitigation and green growth. However, they often lack sufficient funding from investors. Our study focuses on the factors that determine venture capital investors to invest in green startups. In...

Persistent link: https://www.econbiz.de/10014311702

Intertemporal preferences and the adoption decision for bluetooth speakers

Guhl, Daniel; Klapper, Daniel - 2019

The adoption decision for durable goods is intertemporal by definition. However, estimating utility and discount functions from revealed preference data using dynamic discrete choice models is difficult because of an inherent identification problem. To overcome this issue, we use stated...

Persistent link: https://www.econbiz.de/10012139042

On factors of consumer heterogeneity in (mis)valuation of future energy costs : evidence for the German automobile market

Pleshcheva, Vlada; Klapper, Daniel; Dannewald, Till - 2019

In this paper, we first recover the individual valuation of expected future fuel costs at the time of a car purchase and then explore how various factors relate to the recovered consumer undervaluation of fuel savings (on average, consumers' willingness-to-pay for a AC1 reduction in fuel costs...

Persistent link: https://www.econbiz.de/10011976135

A thousand words tell more than just numbers: Financial crises and historical headlines

Ristolainen, Kim; Roukka, Tomi; Nyberg, Henri - 2021

We show that financial crises are preceded by changes in specific types of narrative information contained in newspaper article titles. Our novel international dataset and the resulting empirical evidence are gathered by integrating information from a large panel of economic news articles in...

Persistent link: https://www.econbiz.de/10013394372

Yield-Curve Based Probit Models for Forecasting U.S. Recessions: Stability and Dynamics

Kauppi, Heikki - 2008

Recent research provides controversial evidence on the stability of yield-curve based binary probit models for forecasting U.S. recessions. This paper reviews so far applied specifications and presents new procedures for examining the stability of selected probit models. It finds that a...

Persistent link: https://www.econbiz.de/10012502985

Yield-Curve Based Probability Forecasts of U.S. Recessions: Stability and Dynamics

Kauppi, Heikki - 2010

Various papers indicate that the yield-curve has superior predictive power for U.S. recessions. However, there is controversial evidence on the stability of the predictive relationship and it has remained unclear how the persistence of the underlying binary recession indicator should be taken...

Persistent link: https://www.econbiz.de/10012503011

Recession Prediction with Optimal Use of Leading Indicators

Kauppi, Heikki - 2019

We use the gradient boosting estimation technique and the ROC curveto non-parametrically measure and exploit the maximal predictive powerof leading indicators for the future state of the business cycle. We de-velop novel procedures for finding the best performing transformationsof individual...

Persistent link: https://www.econbiz.de/10012503078

Getting the poor to work : three welfare increasing reforms for a busy Germany

Jessen, Robin; Rostam-Afschar, Davud; Steiner, Viktor - 2015

and full-time work, respectively. We estimate labor supply reactions and welfare effects using a microsimulation model … that provides improved incentives to work full-time has negligible effects on overall labor supply. With equal welfare … weights, aggregate welfare gains are realizable under all three reforms. …

Persistent link: https://www.econbiz.de/10011298903

The joint dynamics of sovereign ratings and government bond yields

Shagi, Makram el-; Schweinitz, Gregor von - 2016

Can a negative shock to sovereign ratings invoke a vicious cycle of increasing government bond yields and further downgrades, ultimately pushing a country toward default? The narratives of public and political discussions, as well as of some widely cited papers, suggest this possibility. In this...

Persistent link: https://www.econbiz.de/10011482939

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