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On a simple survey measure of individual risk aversion
Hartog, Joop; Ferrer-i-Carbonell, Ada; Jonker, Nicole - 2000
Persistent link: https://www.econbiz.de/10001511197
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On a simple survey measure of individual risk aversion
Hartog, Joop; Ferrer-i-Carbonell, Ada; Jonker, Nicole - 2000
We ask individuals for their reservation price of a specified lotteryand deduce their Arrow-Pratt measure of risk aversion.This allows direct testing of common hypotheses on risk attitudes inthree datasets. We find that risk aversion indeed fallswith income and wealth. Entrepreneurs are less...
Persistent link: https://www.econbiz.de/10011303858
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Poverty and uncertainty attitudes
Gonzalez Jimenez, Victor H. - 2024
This paper demonstrates that well-established biases in decision making under uncertainty can generate poverty traps. A theoretical framework is developed to demonstrate that: i) probability weighting and ambiguity attitude can lead individuals to erroneously undervalue profitable investments,...
Persistent link: https://www.econbiz.de/10015062969
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The risk-adjusted carbon price
Ploeg, Frederick van der; Bremer, Ton van den - 2021
perturbation theory to derive an approximate tractable expression for this cost adjusted for climatic and economic risk. We allow …
Persistent link: https://www.econbiz.de/10012545108
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World equity premium based risk aversion estimates
Pozzi, Lorenzo; Vries, Casper G. de; Zenhorst, J. - 2010
Persistent link: https://www.econbiz.de/10003934133
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World equity premium based risk aversion estimates
Pozzi, Lorenzo; Vries, Casper G. de; Zenhorst, J. - 2010
The equity premium puzzle holds that the coefficient of relative risk aversion estimated from the consumption based CAPM under power utility is excessively high. Moreover, estimates in the literature vary considerably across countries. We gauge the uncertainty pertaining to the country risk...
Persistent link: https://www.econbiz.de/10011379612
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Cash flow and discount rate risk in up and down markets : what is actually priced?
Botshekan, Mahmoud; Kräussl, Roman; Lucas, André - 2010
We test whether asymmetric preferences for losses versus gains as in Ang, Chen, and Xing (2006) also affect the pricing of cash flow versus discount rate news as in Campbell and Vuolteenaho (2004). We construct a new four-fold beta decomposition, distinguishing cash flow and discount rate betas...
Persistent link: https://www.econbiz.de/10011382429
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Vulnerability in a stochastic dynamic model
Elbers, Chris; Gunning, Jan Willem - 2003
Persistent link: https://www.econbiz.de/10001792791
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The bias of the Gini coefficient due to grouping : revisiting first order corrections
Van Ourti, Tom; Clarke, Philip M. - 2008
Persistent link: https://www.econbiz.de/10003774506
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Measurement error in education and growth regressions
Portela, Miguel; Alessie, Rob; Teulings, Coen N. - 2005
The perpetual inventory method used for the construction of education data per country leads to systematic measurement … error. This paper analyses the effect of this measurement error on GDP regressions. There is a systematic difference in the … the measurement error. The standard attenuation bias suggests that using these corrected data would lead to a higher …
Persistent link: https://www.econbiz.de/10011335189