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Hidden Insurance in a Moral Hazard Economy
Bertola, Giuseppe - 2013
with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then … standard functional form restrictions ensure that individual objective functions are optimized by an effort and insurance … combination that is unique and satisfies first- and second-order conditions. Modeling insurance incompleteness in terms of costly …
Persistent link: https://www.econbiz.de/10013071425
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Risk Aversion and Son Preference : Experimental Evidence from Chinese Twin Parents
Chew, Soo Hong - 2017
insurance for old-age support than daughters. The implications of an insurance motive on son preference are two-fold. First …
Persistent link: https://www.econbiz.de/10012963852
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An Alternative Explanation for the Variation in Reported Estimates of Risk Aversion
Conniffe, Denis - 2012
There is a large literature estimating Arrow-Pratt coefficients of absolute and relative risk aversion. A striking feature of this literature is the very wide variation in the reported estimates of the coefficients. While there are often legitimate reasons for these differences in the estimates,...
Persistent link: https://www.econbiz.de/10013099686
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Constrained Firms, Not Subsistence Activities : Evidence on Capital Returns and Accumulation in Peruvian Microenterprises
Göbel, Kristin - 2012
We investigate the returns to capital and capital accumulation using panel data of Peruvian micro enterprises (MEs). Marginal returns to capital are found to be very high at low levels of capital, but rapidly decreasing at higher levels. The dynamic analyses of capital accumulation in MEs...
Persistent link: https://www.econbiz.de/10013099706
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Risk-Taking Behavior in the Wake of Natural Disasters
Cameron, Lisa - 2012
risk are driving the more risk-averse behavior we observe. We show that access to insurance can partly offset this effect …
Persistent link: https://www.econbiz.de/10013099808
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The "Bomb" Risk Elicitation Task
Crosetto, Paolo - 2012
This paper presents the Bomb Risk Elicitation Task (BRET), an intuitive procedure aimed at measuring risk attitudes. Subjects decide how many boxes to collect out of 100, one of which containing a bomb. Earnings increase linearly with the number of boxes accumulated but are zero if the bomb is...
Persistent link: https://www.econbiz.de/10013103490
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Aging and Attitudes Towards Strategic Uncertainty and Competition : An Artefactual Field Experiment in a Swiss Bank
Madiès, Thierry - 2012
We study the attitudes of junior and senior employees towards strategic uncertainty and competition, by means of a market entry game inspired by Camerer and Lovallo (1999). Seniors exhibit higher entry rates compared to juniors, especially when earnings depend on relative performance. This...
Persistent link: https://www.econbiz.de/10013104678
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Loss Aversion and Intertemporal Choice : A Laboratory Investigation
Oxoby, Robert J. - 2010
We present results from a laboratory study of loss aversion in the context of intertemporal choice. We investigate whether the provision of (windfall) endowments results in different elicited discount rates relative to subjects who earn income or earn and retain the income for a period before...
Persistent link: https://www.econbiz.de/10013145193
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Strategic Behavior Across Gender : A Comparison of Female and Male Expert Chess Players
Gerdes, Christer - 2010
This paper aims to measure differences in risk behavior among expert chess players. The study employs a panel data set on international chess with 1.4 million games recorded over a period of 11 years. The structure of the data set allows us to use individual fixed-effect estimations to control...
Persistent link: https://www.econbiz.de/10013147122
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Inequality Aversion and Risk Attitudes
Ferrer-i-Carbonell, Ada - 2010
Using self reported measures of life satisfaction and risk attitudes, we empirically test whether there is a relationship between individuals inequality and risk aversion. The empirical analysis uses the German SOEP household panel for the years 1997 to 2007 to conclude that the negative effect...
Persistent link: https://www.econbiz.de/10013148355