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Predictability of Asset Returns and the Efficient Market Hypothesis
Pesaran, M. Hashem - 2010
This paper is concerned with empirical and theoretical basis of the Efficient Market Hypothesis (EMH). The paper begins with an overview of the statistical properties of asset returns at different frequencies (daily, weekly and monthly), and considers the evidence on return predictability, risk...
Persistent link: https://www.econbiz.de/10013141228
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Rational Inattention and Employer Learning
Habermalz, Steffen - 2010
learning model with the theory of rational inattention introduced by Sims (2006). In the model firms optimally allocate …
Persistent link: https://www.econbiz.de/10013135991
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Rational Students and Resit Exams
Kooreman, Peter - 2012
Resit exams – extra opportunities to do an exam in the same academic year – are widely prevalent in European higher education, but uncommon in the US. I present a simple theoretical model to compare rational student behavior in the case of only one exam opportunity versus the case of two...
Persistent link: https://www.econbiz.de/10013099740
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Rational Inattention and Migration Decisions
Bertoli, Simone - 2020
Acquiring information about destinations can be costly for migrants. We model information frictions in the rational inattention framework and obtain a closed-form expression for a migration gravity equation that we bring to the data. The model predicts that ows from countries with a higher cost...
Persistent link: https://www.econbiz.de/10012838467
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Rational Addiction and Time Consistency : An Empirical Test
Piccoli, Luca - 2020
This paper deals with one of the main empirical problems associated with the rational addiction theory, namely that its …
Persistent link: https://www.econbiz.de/10012843165
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Testing Bounded Rationality Against Full Rationality in Job Changing Behavior
Contini, Bruno; Morini, Matteo - 2021
In this paper we question the hypothesis of full rationality in the context of job changing behaviour, via simple … forces of job change are future real wages and expected job quality. Bounded rationality suggests that individuals will … and between cells. Under full rationality the following are to be expected: high inter-cell mobility, large dispersion …
Persistent link: https://www.econbiz.de/10013316720
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Motivated Belief Updating and Rationalization of Information
Drobner, Christoph; Goerg, Sebastian J. - 2022
We study belief updating about relative performance in an ego-relevant task. Manipulating the perceived ego-relevance of the task, we show that subjects update their beliefs optimistically because they derive direct utility flows from holding positive beliefs. This finding provides a behavioral...
Persistent link: https://www.econbiz.de/10014242740
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Redistributive Politics and Market Efficiency : An Experimental Study
Großer, Jens - 2011
We study the interaction between competitive markets that produce large but unequally distributed welfare gains and elections through which the poor majority can redistribute income away from the rich minority. In our simple laboratory democracy, subjects first earn their income by trading in a...
Persistent link: https://www.econbiz.de/10013134222
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Immigration, Family Responsibilities and the Labor Supply of Skilled Native Women
Farré, Lidia - 2009
This paper investigates the effects of Spain's large recent immigration wave on the labor supply of highly skilled native women. We hypothesize that female immigration led to an increase in the supply of affordable household services, such as housekeeping and child or elderly care. As a result,...
Persistent link: https://www.econbiz.de/10013158120
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The Cyclical Volatility of Labor Markets Under Frictional Financial Markets
Petrosky-Nadeau, Nicolas - 2010
Financial frictions are known to raise the volatility of economies to shocks (e.g. Bernanke andGertler 1989). We follow this line of research to the labor literature concerned by the volatility of labor market outcomes to productivity shocks initiated by Shimer (2005): in an economy with search...
Persistent link: https://www.econbiz.de/10013139045