Showing 1 - 10 of 231
public sector, it may be economically rational for those at risk not to invest in protective measures. Risk management …. These may include multi-year insurance contracts, well-enforced regulations, third-party inspections, and alternative risk …
Persistent link: https://www.econbiz.de/10011276430
We model tipping as a game-theoretic phenomenon and investigate the connection between supermodular games, tipping of equilibria and cascading, and apply the results to issues that arise in the context of homeland security and computer security. We show that tipping and cascading can occur in...
Persistent link: https://www.econbiz.de/10005248804
Individuals' risk preferences are estimated and employed in a variety of settings, notably including choices in …' coefficients of relative risk aversion (CRRA's) in excess of one, and often significantly higher. However, it can be shown that …) anomaly involving individuals' risk-taking behavior in different market settings. …
Persistent link: https://www.econbiz.de/10005248969
This paper demonstrates gender differences in risk aversion and ambiguity aversion. It also contributes to a growing … of cognition. Women are more risk averse than men. Over an initial range, women require no further compensation for the … as men. Psychological variables account for some of the interpersonal variation in risk aversion. They explain none of …
Persistent link: https://www.econbiz.de/10005084452
This paper argues that, since activities that provide political information are complementary with leisure, increased labor market activity should lower turnout, but should do so least in prominent elections where information is ubiquitous. Using official county-level voting data and a variety...
Persistent link: https://www.econbiz.de/10009226772
little credit risk. The borrowing in this model takes the form of a repurchase agreement ("repo") or asset-backed commercial …" (the information state gets worse), or "no news" (the information state remains the same). When rollover risk is high … during the crisis for asset-backed securities with low credit risk once bad news about the underlying cash flows arrived. …
Persistent link: https://www.econbiz.de/10008601707
Due to improving information technology, the growing complexity of research problems, and policies designed to foster interdisciplinary research, the practice of science in the United States has undergone significant structural change. Using a sample of 110 top U.S. universities observed during...
Persistent link: https://www.econbiz.de/10008625933
We analyze a rational-expectations model of information acquisition and price formation in an intermediate- good market: prices and net supply are non-negative, there are no noise traders, and the intermediate good has multiple potential uses. Several of our results differ from the classic...
Persistent link: https://www.econbiz.de/10008634698
We consider optimal redistribution in a model where individuals can self-select into one of several possible sectors based on heterogeneity in a multidimensional skill vector. We first show that when the government does not observe the sectoral choice or underlying skills of its citizens, the...
Persistent link: https://www.econbiz.de/10010785614
We study optimal investment in self-protection of insured individuals when they face interdependencies in the form of potential contamination from others. If individuals cannot coordinate their actions, then the positive externality of investing in self-protection implies that, in equilibrium,...
Persistent link: https://www.econbiz.de/10005710113