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Overconfident people are more exposed to "black swan" events : a case study of avalanche risk
Bonini, Nicolao; Pighin, Stefania; Rettore, Enrico; … - 2015
dramatic consequences. To test whether the overconfidence bias affects the decision of backcountry skiers to go on a ski trip …
Persistent link: https://www.econbiz.de/10010513329
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Artificial Intelligence and the economics of decision-making
Naudé, Wim - 2023
decisions. In this challenge, they confront two questions: what decision theory to follow and how to implement it in AI systems …. This paper provides answers to these questions and makes three contributions. The first is to discuss how economic decision … consideration of procedural rationality, overcoming computational difficulties, and understanding decision-making in disequilibrium …
Persistent link: https://www.econbiz.de/10014230173
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Gender and competition : evidence from jumping competitions
Böheim, René; Lackner, Mario - 2013
We analyze if female athletes differ from male athletes in their competitive behavior, using data from high jump and pole vault competitions. We estimate if female athletes use risky strategies as often as male athletes and whether or not their returns to risky strategies differ. Returns to...
Persistent link: https://www.econbiz.de/10009717718
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Risk and saving in two-person households : more scope for precautionary saving
Apps, Patricia; Andrienko, Yuri; Rees, Ray - 2012
The existing literature suggests that when the saving decision of two-earner households under risk is analysed … stringent conditions hold. This paper shows that when the two-earner household's saving decision is formulated more generally …
Persistent link: https://www.econbiz.de/10009613678
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Risk attitudes and household migration decisions
Dustmann, Christian; Fasani, Francesco; Meng, Xin; … - 2017
migration is a household decision. We develop a simple model that implies that which member migrates depends on the distribution …
Persistent link: https://www.econbiz.de/10011625338
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The likelihood of divorce and the riskiness of financial decisions
Stark, Oded; Szczygielski, Krzysztof - 2019
We link causally the riskiness of men's management of their finances with the probability of their experiencing a divorce. Our point of departure is that when comparing single men to married men, the former manage their finances in a more aggressive (that is, riskier) manner. Assuming that...
Persistent link: https://www.econbiz.de/10012059447
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Compensation for earnings risk under worker heterogeneity
Berkhout, Peter (contributor); Hartog, Joop (contributor);  … - 2006
We use two large Dutch datasets to estimate the Risk Augmented Mincer equation and test for risk compensation in expected earnings. We replicate earlier findings of a positive premium for risk and a negative premium for skew and add confirmation of the key results if we control for individual...
Persistent link: https://www.econbiz.de/10003309271
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Fiscal policy, interest rate spreads, and the zero lower bound
Bredemeier, Christian; Jüßen, Falko; Schabert, Andreas - 2015
This paper questions unconventional fiscal policy effects when the monetary policy rate is at the zero lower bound. We provide evidence for the US that the spread between the policy rate and the US-LIBOR, which is more relevant for private sector transactions, increases with government...
Persistent link: https://www.econbiz.de/10010510610
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Are starting wages reduced by an insurance premium for preventing wage decline? : testing the prediction of Harris and Holmstrom (1982)
Hartog, Joop; Raposo, Pedro - 2015
In the model of Harris and Holmstrom (1982) workers pay an insurance premium to prevent a wage decline. As employers are unable to assess the ability of a labour market entrant, they would offer a wage equal to expected productivity of the worker's category and adjust it with unfolding...
Persistent link: https://www.econbiz.de/10011407951
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Do wages really compensate for risk aversion and skewness affection?
Hartog, Joop; Vijverberg, Wim P. M. - 2002
Utility theory suggests that foreseeable risk should increase the compensation for work. This paper expands on this notion: on basis of utility theory, people should care not only about risk but also about the skewness in the distribution of the compensation paid. In particular, because the...
Persistent link: https://www.econbiz.de/10011405939