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How does risk management influence production decisions? : evidence from a field experiment
Cole, Shawn; Giné, Xavier; Vickery, James - 2014
Weather is a key source of income risk, particularly in emerging market economies. This paper uses a randomized controlled trial involving a sample of Indian farmers to study how an innovative rainfall insurance product affects production decisions. We find that insurance provision induces...
Persistent link: https://www.econbiz.de/10010406275
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Up close it feels dangerous : "anxiety" in the face of risk
Eisenbach, Thomas M.; Schmalz, Martin C. - 2013
Motivated by individuals' emotional response to risk at different time horizons, we model an 'anxious' agent - one who is more risk averse with respect to imminent risks than distant risks. Such preferences describe well-documented features of 1) individual behavior, 2) equilibrium prices, and...
Persistent link: https://www.econbiz.de/10009725585
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Asset pricing with horizon-dependent risk aversion
Andries, Marianne; Eisenbach, Thomas M.; Schmalz, Martin C. - 2014
We study general equilibrium asset prices in a multi-period endowment economy when agents' risk aversion is allowed to depend on the maturity of the risk. We find horizon-dependent riskaversion preferences generate a decreasing term structure of risk premia if and only if volatility is...
Persistent link: https://www.econbiz.de/10010439624
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An experimental investigation of why individuals conform
Zafar, Basit (contributor) - 2009
Social interdependence is believed to play an important role in how people make individual choices. This paper presents a simple model constructed on the premise that people are motivated by their own payoff as well as by how their actions compare with those of other people in their reference...
Persistent link: https://www.econbiz.de/10003812571
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Barriers to household risk management : evidence from India
Cole, Shawn; Giné, Xavier; Tobacman, Jeremy; Topalova, … - 2009
Financial engineering offers the potential to significantly reduce the consumption fluctuations faced by individuals, households, and firms. Yet much of this potential remains unfulfilled. This paper studies the adoption of an innovative rainfall insurance product designed to compensate...
Persistent link: https://www.econbiz.de/10003864577
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Is economics coursework, or majoring in economics, associated with different civic behaviors?
Allgood, Sam Anthony; Bosshardt, William; Klaauw, … - 2010
Studies regularly link levels of educational attainment to civic behavior and attitudes, but only a few investigate the role played by specific coursework. Using data collected from students who attended one of four public universities in our study, we investigate the relationship between...
Persistent link: https://www.econbiz.de/10008657282
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Rational inattention in hiring decisions
Acharya, Sushant; Wee, Shu Lin - 2019
We provide an information-based theory of matching efficiency fluctuations. Rationally inattentive firms have limited capacity to process information and cannot perfectly identify suitable applicants. During recessions, higher losses from hiring unsuitable workers cause firms to be more...
Persistent link: https://www.econbiz.de/10011975476
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Investment shocks and the relative price of investment
Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2009
broadly, the transformation of savings into future capital input. We find that this shock is the most important driver of U …
Persistent link: https://www.econbiz.de/10003948199
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Household debt and saving during the 2007 recession
Chakrabarti, Rajashri; Lee, Donghoon; Klaauw, Wilbert … - 2011
increase in saving - at least in 2009 - did not materialize through an increase in contributions to retirement and savings …
Persistent link: https://www.econbiz.de/10008935752
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Do long-haul truckers undervalue future fuel savings?
Adenbaum, Jacob; Copeland, Adam; Stevens, John J. - 2016
being myopic, such that vehicle purchasers undervalue the future fuel savings from increased fuel efficiency. We measure by … how much long-haul truck owners undervalue future fuel savings by employing recent advances to the classic hedonic … percentile to 1.33 at the 90th percentile, and an average of 0.91. Combining these results with estimates of future fuel savings …
Persistent link: https://www.econbiz.de/10011410544