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Knightian Uncertainty, k-Ignorance, and Optimal Timing

Alvarez, Luis H. R. - 2007

We investigate within a continuous time setting how Knightian uncertainty characterized by k-ignorance affects the optimal timing policies of a risk-neutral and uncertainty averse investor in the case where the exercise payoff is monotonic. We prove that increased Knightian uncertainty...

Persistent link: https://www.econbiz.de/10012502979

Take-up of joint and individual liability loans: an analysis with laboratory experiments

Baulia, Susmita - 2017

This paper reports a study on decision-making by borrowers regarding take-up of different loan types in a laboratory microfinance experiment setting. I hypothesize that when borrowers are offered a flexible choice of different loan types (here, individual liability (IL) and joint liability...

Persistent link: https://www.econbiz.de/10012503070

Personality characteristics and the decision to become and stay self-employed

Caliendo, Marco; Fossen, Frank M.; Kritikos, Alexander - 2011

This paper systematically investigates whether different kinds of personality characteristics influence entrepreneurial development. On the basis of a large, representative household panel survey, we examine the extent to which the Big Five traits and further personality characteristics, which...

Persistent link: https://www.econbiz.de/10009008036

Bank regulation and stability : an examination of the Basel market risk framework

Alexander, Gordon J.; Baptista, Alexandre M.; Yan, Shu - 2012

In attempting to promote bank stability, the Basel Committee on Banking Supervision (2006) provides a framework that seeks to control the amount of tail risk that large banks take in their trading books. However, banks around the world suffered sizeable trading losses during the recent crisis....

Persistent link: https://www.econbiz.de/10009528885

Stated and revealed heterogeneous risk preferences in educational choice

Fossen, Frank M.; Glocker, Daniela - 2014

Stated survey measures of risk preferences are increasingly being used in the literature, and they have been compared to revealed risk aversion primarily by means of experiments such as lottery choice tasks. In this paper, we investigate educational choice, which involves the comparison of risky...

Persistent link: https://www.econbiz.de/10010249634

Parenthood and risk preferences

Görlitz, Katja; Tamm, Marcus - 2015

This study analyzes how risk attitudes change when individuals become parents using longitudinal data for a large and representative sample of individuals. The results show that men and women experience a considerable increase in risk aversion which already starts as early as two years before...

Persistent link: https://www.econbiz.de/10010498567

Persuasion by stress testing : optimal disclosure of supervisory information in the banking sector

Gick, Wolfgang; Pausch, Thilo - 2012

-generating process) together with the stress test result (signal). Disclosing two pieces of information is a typical procedure used in … stress tests. By optimally choosing these two signals, supervisors can deliver superior information to prudent investors and … disclose an uninformative signal. -- Stress Tests ; Supervisory Information ; Bayesian Persuasion ; Multiple Receivers …

Persistent link: https://www.econbiz.de/10009674818

Income in Jeopardy : how losing employment affects the willingness to take risks/ Clemens Hetschko; Malte Preuss

Hetschko, Clemens; Preuss, Malte - 2015

Using German panel data, we assess the causal effect of job loss, and thus of an extensive income shock, on risk attitude. In line with predictions of expected utility reasoning about absolute risk aversion, losing oneś job reduces the willingness to take risks. This effect strengthens in...

Persistent link: https://www.econbiz.de/10011405097

Report-dependent utility and strategy-proofness

Meisner, Vincent - 2021

Despite the truthful dominant strategy, participants in strategy-proof me- chanisms submit manipulated preferences. In our model, participants dislike rejections and enjoy the confirmation from getting what they declared most desirable. Formally, the payoff from a match decreases in its position...

Persistent link: https://www.econbiz.de/10012648382

Meta-analysis of empirical estimates of loss-aversion

Brown, Alexander L.; Imai, Taisuke; Vieider, Ferdinand M.; … - 2021

Loss aversion is one of the most widely used concepts in behavioral economics. We conduct a large-scale interdisciplinary meta-analysis, to systematically accumulate knowledge from numerous empirical estimates of the loss aversion coefficient reported during the past couple of decades. We...

Persistent link: https://www.econbiz.de/10012500394

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