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Risk aversion under preference uncertainty
Kräussl, Roman; Lucas, André; Siegmann, Adriaan Hendrik - 2010
We show that if an agent is uncertain about the precise form of his utility function, his actual relative risk aversion … may depend on wealth even if he knows his utility function lies in the class of constant relative risk aversion (CRRA … their risk aversion parameter invest less in risky assets than wealthy investors with identical risk aversion uncertainty. …
Persistent link: https://www.econbiz.de/10011382430
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Quantifying time-varying forecast uncertainty and risk for the real price of oil
Aastveit, Knut Are; Cross, Jamie; Dijk, Herman K. van - 2021
-varying forecast uncertainty and risk for the real price of oil over the period 1974-2018. We show that the combination approach … analysis of profit-loss and hedging against price risk. …
Persistent link: https://www.econbiz.de/10012545165
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Quantifying Time-Varying Forecast Uncertainty and Risk for the Real Price of Oil
Aastveit, Knut Are; Cross, Jamie; Dijk, Herman K. van - 2021
-varying forecast uncertainty and risk for the real price of oil over the period 1974-2018. We show that the combination approach … analysis of profit-loss and hedging against price risk. …
Persistent link: https://www.econbiz.de/10012795319
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Auctions under payoff uncertainty : the case with heterogeneous bidder-aversion to downside risk
Hu, Audrey Xianhua; Zou, Liang - 2008
common knowledge, except that bidders have private degrees of aversion to downside-risk. In this model, the optimal FPA … risk or risk aversion generally leads to lower equilibrium bids. …
Persistent link: https://www.econbiz.de/10011374400
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A theory of continuous uncertainty types
Czerny, Achim Ingo; Verhoef, Erik T.; Zhang, Anming - 2015
This paper distinguishes uncertainty types that differ continuously with respect to the degree to which uncertainty affects the optimal price/price markup or optimal quantity. A monopoly example is used to show that seemingly strong assumptions on functional forms can represent a wide variety of...
Persistent link: https://www.econbiz.de/10010532588
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Starting an R&D project under uncertainty
Dobbelaere, Sabien; Luttens, Roland Iwan; Peters, Bettina - 2010
differences in risk premia. We deduct testable hypotheses on the basis of which we empirically analyze the impact of uncertainty …
Persistent link: https://www.econbiz.de/10011378299
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The economics of information in transport
Rietveld, Piet - 2010
Travelers often are incompletely informed about travel alternatives, which has important implications for various domains of travel behavior such as whether or not to make a trip, modal choice, the timing of a trip or route choice. During the last decade large efforts have been made to increase...
Persistent link: https://www.econbiz.de/10011382086
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The impact of uncertainty on investment : a meta-analysis
Koetse, Mark J.; Groot, Henri L. F. de; Florax, Raymond … - 2006
In this paper we perform a meta-analysis on empirical estimates of the impact between investment and uncertainty. Since the outcomes of primary studies are largely incomparable with respect to the magnitude of the effect, our analysis focuses on the direction and statistical significance of the...
Persistent link: https://www.econbiz.de/10011349194
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Deception : the role of uncertain consequences
Dugar, Subhasish; Mitra, Arnab; Shahriar, Quazi - In: European economic review : EER 114 (2019), pp. 1-18
Persistent link: https://www.econbiz.de/10012238056
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Educational choice, initial wage and wage growth
Mazza, Jacopo; Ophem, Hans van - 2020
We investigate the major choice of college graduates where we make choice dependent on expected initial wages and expected wage growth per major. We build a model that allows us to estimate these factors semiparametrically and that corrects for selection bias. We estimate the model on the...
Persistent link: https://www.econbiz.de/10012228687