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Conti, Gabriella - 2014

This paper develops and applies a Bayesian approach to Exploratory Factor Analysis that improves on ad hoc classical approaches. Our framework relies on dedicated factor models and simultaneously determines the number of factors, the allocation of each measurement to a unique factor, and the...

Persistent link: https://www.econbiz.de/10013049750

Household Finances and Social Interaction : Bayesian Analysis of Household Panel Data

Brown, Sarah - 2014

We investigate the relationship between social interaction and household finances using data from the British Household Panel Survey. We contribute to the existing literature by exploring the relationship between a wide range of aspects of household finances and social interaction, rather than...

Persistent link: https://www.econbiz.de/10013051017

Reverse Bayesianism : Revising Beliefs in Light of Unforeseen Events

Becker, Christoph K.; Melkonyan, Tigran; Proto, Eugenio; … - 2021

Bayesian Updating is the dominant theory of learning in economics. The theory is silent about how individuals react to …

Persistent link: https://www.econbiz.de/10013315077

Bayesian Versus Heuristic-Based Choice Under Sleep Restriction and Suboptimal Times of Day

Dickinson, David L. - 2017

This paper examines the impact of a commonly experienced adverse cognitive state on decision making under uncertainty. Specifically, we administer an at-home sleep restriction protocol combined with random assignment to the time-of-day for decision making. Thus, we induce sleepiness in our...

Persistent link: https://www.econbiz.de/10012947720

Gambling Habits and Probability Judgements in a Bayesian Task Environment

Dickinson, David L.; Reid, Parker - 2023

Little is known about how gamblers estimate probabilities from multiple information sources. This paper reports on a preregistered study that administered an incentivized Bayesian choice task to n=465 participants (self-reported gamblers and non-gamblers). Our data failed to support our main...

Persistent link: https://www.econbiz.de/10014346673

The Economics of Dual Job Holding : A Job Portfolio Model of Labor Supply

Renna, Francesco - 2006

In this paper we develop a job portfolio model of dual job holding based on a Stone-Geary utility function. We derive the associated Slutsky equation components. Because the job portfolio model applies only to unconstrained dual jobholders, we separate individuals who moonlight because of an...

Persistent link: https://www.econbiz.de/10012783284

Locus of Control and Investment in Risky Assets

Salamanca, Nicolas - 2016

We show that household heads with a strong internal economic locus of control are more likely to hold equity and hold a larger share of equity in their investment portfolio. This relation holds when we control for economic preferences and possible confounders such as financial literacy,...

Persistent link: https://www.econbiz.de/10012977336

Skewness Expectations and Portfolio Choice

Drerup, Tilman H.; Wibral, Matthias; Zimpelmann, Christian - 2022

Many models of investor behavior predict that investors prefer assets that they believe to have positively skewed return distributions. We provide a direct test of this prediction in a representative sample of the Dutch population. Using individual-level data on return expectations for a broad...

Persistent link: https://www.econbiz.de/10013406448

Belief Elicitation in Experiments : Is There a Hedging Problem?

Blanco, Mariana; Engelmann, Dirk; Koch, Alexander K.; … - 2021

existing belief elicitation results, (ii) can we avoid potential hedging confounds? Our results instill confidence regarding … both issues. We propose an experimental design that eliminates hedging opportunities, and use this to test for the … empirical relevance of hedging effects in the lab. We find no evidence for hedging, comparing the standard "hedging …

Persistent link: https://www.econbiz.de/10013325138

Returns to Compulsory Schooling in Britain : Evidence from a Bayesian Fuzzy Regression Discontinuity Analysis

Chib, Siddhartha - 2011

In this paper we reevaluate the returns to education based on the increase in the compulsory schooling age from 14 to 15 in the UK in 1947. We provide a Bayesian fuzzy regression discontinuity approach to infer the effect on earnings for a subset of subjects who turned 14 in a narrow window...

Persistent link: https://www.econbiz.de/10013128224

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