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Self-employment and Health: Barriers or Benefits?
Rietveld, Cornelius A.; Kippersluis, Hans van; Thurik, … - Tinbergen Instituut - 2013
Forthcoming in 'Health Economics'.<P> The self-employed are often reported to be healthier than wage workers; however …, the cause of this health difference is largely unknown. The longitudinal nature of the US Health and Retirement Study …-employment on health (benefit effect), or a health-related selection of individuals into self-employment (barrier effect). Our main …
Persistent link: https://www.econbiz.de/10011257487
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Loss Modification Incentives for Insurers under Expected Utility and Loss Aversion
Soetevent, Adriaan R.; Zhou, Liting - Tinbergen Instituut - 2014
Given the possibility to modify the probability of a loss, will a profit-maximizing insurer engage in loss prevention … expected profit maximizing loss probability within an expected utility framework. We then use Köszegi and Rabin's (2006, 2007 … engage in loss prevention activities, this to the benefit of consumers. Our results show that one should be cautious in doing …
Persistent link: https://www.econbiz.de/10011256470
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Volatility Smirk as an Externality of Agency Conflict and Growing Debt
Jaskowski, Marcin; McAleer, Michael - Tinbergen Instituut - 2013
Since Black (1976), the source of the stock price volatility smirk has remained a controversy. The volatility smirk is a side effect of agency conflict. An important distinction is that the smirk occurs in the optimum, even after agency conflict has been resolved. The slope of the smirk is found...
Persistent link: https://www.econbiz.de/10011268659
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Using Preferred Outcome Distributions to estimate Value and Probability Weighting Functions in Decisions under Risk
Donkers, Bas; Lourenco, Carlos J.S.; Dellaert, Benedict G.C. - Tinbergen Instituut - 2013
probability weighting function in rank-dependent utility models. To illustrate our method and its advantages, we run an incentive …
Persistent link: https://www.econbiz.de/10011255452
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Risk, Balanced Skills and Entrepreneurship
Hsieh, Chihmao; Parker, Simon C.; Praag, C. Mirjam van - Tinbergen Instituut - 2011
This paper proposes that risk aversion encourages individuals to invest in balancedskill profiles, making them more likely to become entrepreneurs. By not havingtaken this possible linkage into account, previous research has underestimated the impactsboth of risk aversion and balanced skills on...
Persistent link: https://www.econbiz.de/10011255496
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A Theory of Procedurally Rational Choice: Optimization without Evaluation
Ficco, Stefano; Karamychev, Vladimir; Reeven, Peran van - Tinbergen Instituut - 2006
This paper analyses the behavior of an individual who wants to maximize his utility function, but he is not able to … evaluate it. There are many ways to choose a single alternative from a given set. We show that a unique utility maximizing … words, utility maximizing individuals who are unable to evaluate their objective functions fail to exhibit rational revealed …
Persistent link: https://www.econbiz.de/10011255667
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Errors in Judicial Decisions
Sonnemans, Joep; Dijk, Frans van - Tinbergen Instituut - 2008
In criminal cases the task of the judge is to transform the uncertainty about the facts into the certainty of the verdict. In this experiment we examine the relationship between evidence of which the strength is known, subjective probability of guilt and verdict for abstract cases. We look at...
Persistent link: https://www.econbiz.de/10011255690
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Separating Real Incentives and Accountability
Vieider, Ferdinand M. - Tinbergen Instituut - 2008
In experimental investigations of the effect of real incentives, accountability—the implicit or explicit expectation of a decision maker that she may have to justify her decisions in front of somebody else—is often confounded with the incentives themselves. This confounding of accountability...
Persistent link: https://www.econbiz.de/10011255710
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Eliciting Discount Functions when Baseline Consumption changes over Time
Gerber, Anke; Rohde, Kirsten I.M. - Tinbergen Instituut - 2009
consumption, it changes the extra utility from receiving the outcome, and (2) it changes the factor by which this extra utility is …
Persistent link: https://www.econbiz.de/10011255711
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Evaluation Problem versus Selection Problem in Organizational Structures
Ficco, Stefano; Karamychev, Vladimir - Tinbergen Instituut - 2005
We consider a hierarchical organization with two fully rational agents. The goal of the organization is that of selecting the best alternative out of several available, and agents are heterogenous in the accuracy with which they screen the alternatives. We show that, if internal communications...
Persistent link: https://www.econbiz.de/10011255755