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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/10010245919
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Endogenous indoctrination : occupational choice, the evolution of beliefs, and the political economy of reform
Saint-Paul, Gilles - 2009
favourable to the market economy. Two parameters that govern this capacity to learn are social entropy and heritability. Social … entropy defines how predictable one's occupation is as a function of one's beliefs. Heritability is the weight of the family …'s beliefs in the determination of the priors of a new generation. Both heritability and social entropy reduce the bias and makes …
Persistent link: https://www.econbiz.de/10003902085
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Inequality and the GB2 income distribution
Jenkins, Stephen (contributor) - 2007
The generalized entropy class of inequality indices is derived for Generalized Beta of the Second Kind (GB2) income …
Persistent link: https://www.econbiz.de/10003597779
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"The double dividend of training" : labor market effects of work-related continuous education in Switzerland
Denzler, Stefan; Ruhose, Jens; Wolter, Stefan C. - 2022
market outcomes, we apply a regression-adjusted matched difference-in-differences approach with entropy balancing to account …
Persistent link: https://www.econbiz.de/10013414731
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An Afriat theorem for the collective model of household consumption
Cherchye, Laurens (contributor); Rock, Bram de (contributor) - 2008
We provide a nonparametric 'revealed preference' characterization of rational household behavior in terms of the collective consumption model, while accounting for general (possibly non-convex) individual preferences. We establish a Collective Axiom of Revealed Preference (CARP), which provides...
Persistent link: https://www.econbiz.de/10003771615
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Choice by lexicographic semiorders
Manzini, Paolo; Mariotti, Marco - 2009
We propose an extension of Tversky's lexicographic semiorder to a model of boundedly rational choice. We explore the connection with sequential rationalisability of choice, and we provide axiomatic characterisations of both models in terms of observable choice data. -- Lexicographic semiorders ;...
Persistent link: https://www.econbiz.de/10003818077
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Nonparametric identification and stimation of nonadditive hedonic Models
Heckman, James J.; Matzkin, Rosa L.; Nesheim, Lars - 2009
This paper studies the identification and estimation of preferences and technologies in equilibrium hedonic models. In it, we identify nonparametric structural relationships with nonadditive heterogeneity. We determine what features of hedonic models can be identified from equilibrium...
Persistent link: https://www.econbiz.de/10003879363
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A salience theory of choice errors
Manzini, Paola; Mariotti, Marco - 2010
We study a psychologically based foundation for choice errors. The decision maker applies a preference ranking after forming a 'consideration set' prior to choosing an alternative. Membership of the consideration set is determined both by the alternative specific salience and by the rationality...
Persistent link: https://www.econbiz.de/10003976811
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Comparative statics for a consumer with possibly multiple optimum consumption bundles
Dasgupta, Indraneel; Pattanaik, Prasanta K. - 2010
in the standard revealed preference theory of consumers’ behaviour. These results are however derived for demand … preference approach to the theory of consumers' behaviour, this note establishes such results for demand correspondences; the …
Persistent link: https://www.econbiz.de/10003942309
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Contraction consistent stochastic choice correspondence
Dasgupta, Indraneel - 2009
-317, 1971) and Dasgupta and Pattanaik (Econ Theory 31: 35-50, 2007) fall out as corollaries. Thus, conditions are established … axiomatic foundation for a general revealed preference theory of choice behaviour. -- Stochastic choice correspondence …
Persistent link: https://www.econbiz.de/10003923591