Showing 1 - 10 of 7,036
identify exogenous determinants of timing. We develop a theory illustrating conditions under which synchronicity will vary and … identify three factors -- the amount of daylight, the timing of television programming, and differences in time zones -- that … can alter timing. Using the American Time Use Survey for 2003 and 2004, we first show that an exogenous shock to time in …
Persistent link: https://www.econbiz.de/10012466315
Uncertainty about the timing of retirement is a major financial risk with implications for decision making and welfare over the life cycle. We estimate that the standard deviation of the difference between retirement expectations and actual retirement dates ranges from 4.28 to 6.92 years. We...
Persistent link: https://www.econbiz.de/10012456070
In this paper we study the neoclassical growth model with idiosyncratic income risk and aggregate risk in which risk sharing is endogenously constrained by one-sided limited commitment. Households can trade a full set of contingent claims that pay off depending on both idiosyncratic and...
Persistent link: https://www.econbiz.de/10014437034
dynamic contexts. We explore implications for theory and welfare …
Persistent link: https://www.econbiz.de/10014226107
In Becker (1965) and neoclassical microeconomic theory the value of time is a constant fraction of the hourly wage …. When taken to data, however, this value departs from theoretical predictions, and appears to vary with the amount of time … saved. By observing drivers on freeways opting to enter toll lanes with high-frequency, time-varying prices that secure a …
Persistent link: https://www.econbiz.de/10012481913
, distress, payout policy, profitability, and industry. We consider interpretations of these results based on both time … exploit time-varying characteristic mispricing …
Persistent link: https://www.econbiz.de/10012462703
We propose a framework where perceptions of uncertainty are driven by the interaction between cognitive constraints and the way that people learn about it--whether information is presented sequentially or simultaneously. People can learn about uncertainty by observing the distribution of...
Persistent link: https://www.econbiz.de/10014486240
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
Does automatic enrollment into retirement saving increase household debt? We study the randomized roll-out of automatic enrollment pensions to ~160,000 employers in the United Kingdom with 2-29 employees. We find that the additional savings generated through automatic enrollment are partially...
Persistent link: https://www.econbiz.de/10014486192
, structural estimates of present bias, hyperbolicity and transitivity violations -- are driven by complexity rather than time or …
Persistent link: https://www.econbiz.de/10014247968