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response (fear) triggered by a scary experience. To show the plausibility of this conjecture, we conduct a lab experiment. We …
Persistent link: https://www.econbiz.de/10012459377
be chosen later than earlier; (ii) decision time is higher when the likelihood of choosing each alternative is closer to … fifty percent; and (iii) the ultimate quality of the chosen alternative may increase or decrease with decision time … decision rises with decision time; (ii) average decision time is higher when our estimated probability of a positive decision …
Persistent link: https://www.econbiz.de/10014544793
hypotheses in a lab-in-the-field experiment, which involves repeated MEL games, a large unconditional cash transfer, and an … financial choices, providing a rationale for the common practice of interpreting MEL choices as a proxy for time preferences …
Persistent link: https://www.econbiz.de/10014635646
We present a continuous time series on first cabin passenger fares for ocean travel from New York to the British Isles … covering nearly a century of time. We discuss the conceptual and empirical difficulties of constructing such a time series, and … movement of the revenue-based fares. We also find that advertised fares declined over time, roughly paralleling the drop in …
Persistent link: https://www.econbiz.de/10012456251
Reaching-for-yield--investors' propensity to buy riskier assets in order to achieve higher yields--is believed to be an important factor contributing to the credit cycle. This paper presents a detailed study of this phenomenon in the corporate bond market. We show that insurance companies, the...
Persistent link: https://www.econbiz.de/10012459752
Recordkeepers in DC pension plans are often paid indirectly in the form of revenue sharing from third-party funds on the menu. We show that these arrangements affect the investment menu of 401(k) plans. Revenue-sharing funds are more likely to be added to the menu and are less likely to be...
Persistent link: https://www.econbiz.de/10013477213
The following paper discusses the analysis of some types of economic time series using an altered time scale, or … operational time. It is argued that for some series, observations that are ordinarily thought of as equidistant in time are … actually irregularly spaced in a more natural time scale. Section A discusses point or impulse sampling of related series and …
Persistent link: https://www.econbiz.de/10012479094
, while the time span of the data remains fixed, and the cross-sectional dimension is fixed or increasing. We derive a Central … Limit Theorem (CLT) for the cross-sectional beta dispersion at a point in time, enabling us to test whether this quantity … beta dispersion, as a function of time-of-day, changes across days. We extend this further by developing inference …
Persistent link: https://www.econbiz.de/10012480274
The canonical difference-in-differences (DD) model contains two time periods, "pre" and "post", and two groups … effects change over time. I propose a new balance test derived from a unified definition of common trends. I show how to … time fixed effects, control for unit-specific time trends, or exploit a third difference …
Persistent link: https://www.econbiz.de/10012480671
We provide new evidence on the drivers of the early US coronavirus pandemic. We combine an epidemiological model of disease transmission with quasi-random variation arising from the timing of stay-at-home-orders to estimate the causal roles of policy interventions and voluntary social...
Persistent link: https://www.econbiz.de/10012482185