Similar Search Results

Exposure, Experience, and Expertise : Why Personal Histories Matter in Economics

Malmendier, Ulrike - National Bureau of Economic Research - 2021

Personal experiences of economic outcomes, from global financial crises to individual-level job losses, can shape individual beliefs, risk attitudes, and choices for years to come. A growing literature on experience effects shows that individuals act as if past outcomes that they experienced...

Persistent link: https://www.econbiz.de/10012660014

Model-free and Model-based Learning as Joint Drivers of Investor Behavior

Barberis, Nicholas; Jin, Lawrence J. - National Bureau of Economic Research - 2023

In the past decade, researchers in psychology and neuroscience studying human decision-making have increasingly adopted a framework that combines two systems, namely "model-free" and "model-based" learning. We import this framework into a simple financial setting, study its properties, and use...

Persistent link: https://www.econbiz.de/10014247999

Sharing a Government

Ventura, Jaume - 2019

This paper develops a simple theoretical framework to study a set of regions, each with its own regional government, who share a union or central government. These governments must decide whether to implement or discard a large number of projects that produce local benefits for the region that...

Persistent link: https://www.econbiz.de/10012480087

Liquidity and Governance

Back, Kerry - 2013

Is greater trading liquidity good or bad for corporate governance? We address this question both theoretically and empirically. We solve a model consisting of an optimal IPO followed by a dynamic Kyle market in which the large investor's private information concerns her own plans for taking an...

Persistent link: https://www.econbiz.de/10012458993

Risky Behavior Among Youths : An Economic Analysis

Gruber, Jonathan - 2000

There are a host of potentially risky behaviors in which youth engage, which have important implications for both their well being as youth and their life prospects. The past decade has seen dramatic shifts in the intensity with which youths pursue these risky activities: for example, youth...

Persistent link: https://www.econbiz.de/10012470969

Self-Confidence and Social Interactions

Benabou, Roland - 2000

This paper studies the interactions between an individual's self esteem and his social environment in the workplace, at school, and in personal relationships. Because a person generally has only imperfect knowledge of his own abilities, people who derive benefits from his performance (parent,...

Persistent link: https://www.econbiz.de/10012471184

Economic Analysis of Social Interactions

Manski, Charles F. - 2000

rigor of modern economic analysis. Major theoretical developments in game theory, the economics of the family, and … endogenous growth theory have taken place. Economists have also performed new empirical research on social interactions, but the … empirical literature does not show progress comparable to that achieved in economic theory. This paper examines why and …

Persistent link: https://www.econbiz.de/10012471189

Modeling Individuals' Behavior : Evaluation of a Policymaker's Tool

Gustman, Alan L. - 1983

With a continuous decline in the cost of manipulating data and a continuous increase in the richness of data banks, policymakers have increasing opportunities to build and apply so-called micro-simulation models--modelsthat attempt to simulate the behavior of the individuals in a large...

Persistent link: https://www.econbiz.de/10012477876

Expectations, Life Expectancy, and Economic Behavior

Hamermesh, Daniel S. - 1982

Unlike price expectations, which are central to macroeconomic theory and have been examined extensively using survey … data, formation of individuals' horizons, which are central to the theory of life-cycle behavior, have been completely …

Persistent link: https://www.econbiz.de/10012478276

Martingale-Like Behavior of Prices

Sims, Christopher A. - 1980

Asset prices set in a competitive market need not be martingales; that is, it need not be true that the best predictor of future prices is the current price. Nonetheless, statistical tests for this property are sometimes treated as tests for the proper functioning of an asset market; asset...

Persistent link: https://www.econbiz.de/10012478647

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