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Do Consumers Gamble to Convexify?
Crossley, Thomas F.; Low, Hamish; Smith, Sarah - 2013
The combination of credit constraints and indivisible consumption goods may induce some risk-averse individuals to gamble to have a chance of crossing a purchasing threshold. One implication of this is that income effects for individuals who choose to gamble are likely to be larger than for the...
Persistent link: https://www.econbiz.de/10010500250
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Risky curves: From unobservable utility to observable opportunity sets
Friedman, Daniel; Sunder, Shyam - 2011
Most theories of risky choice postulate that a decision maker maximizes the expectation of a Bernoulli (or utility or similar) function. We tour 60 years of empirical search and conclude that no such functions have yet been found that are useful for out-of-sample prediction. Nor do we find...
Persistent link: https://www.econbiz.de/10010288161
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Loss Aversion with a State-dependent Reference Point
De Giorgi, Enrico; Post, Thierry - Institut für Schweizerisches Bankwesen <Zürich> - 2008
This study investigates loss aversion when the reference point is state-dependent.Using a state-dependent structure, prospects are more attractive if they depend positively on the reference point and are less attractive in case of negative dependence. In addition, the structure is neutral in the...
Persistent link: https://www.econbiz.de/10005858208
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Portfolio decisions on life annuities and financial assets with longevity and income uncertainty
Pech, Susanne - 2004
There are two stylised facts, namely weak demand for life-annuities and flat age-wealth profile that contradict the life-cycle hypothesis. In this paper we design a theoretical framework, which combines plausible arguments, which have been put forward in the literature to reconcile theory with...
Persistent link: https://www.econbiz.de/10010294565
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The missing link: Unifying risk taking and time discounting
Epper, Thomas; Fehr-Duda, Helga - 2012
Almost all important decisions in people's lives entail risky and delayed consequences. Regardless of whether we make choices involving health, wealth, love or education, almost every choice involves costs and benefits that are uncertain and materialize over time. Because risk and delay often...
Persistent link: https://www.econbiz.de/10010316850
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Mandatory integration agreements for unemployed job seekers: A randomized controlled field experiment in Germany
van den Berg, Gerard J.; Hofmann, Barbara; Stephan, Gesine - 2021
provide outcomes. Novel theoretical and methodological analyses provide tools to detect anticipation and suggest estimation by …
Persistent link: https://www.econbiz.de/10012660620
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Lottery loans in the eighteenth century
Velde, François R. - 2018
In the 18th century Britain frequently issued lottery loans, selling bonds whose sizewas determined by a draw soon after the sale. The probability distribution was perfectly known ex-ante and highly skewed. After the draw the bonds were identical (except for size) and indistinguishable from...
Persistent link: https://www.econbiz.de/10012030350
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Sick of your colleagues' absence?
Hesselius, Patrik; Johansson, Per; Nilsson, Peter - 2009
We utilize a large-scale randomized social experiment to identify how coworkers affect each other's effort as measured … by work absence. The experiment altered the work absence incentives for half of all employees living in Göteborg, Sweden …
Persistent link: https://www.econbiz.de/10010273918
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Is it sex or personality? The impact of sex-stereotypes on discrimination in applicant selection
Weichselbaumer, Doris - 2000
they are discriminated against. To gather the necessary data a field experiment is conducted. Job applications of …
Persistent link: https://www.econbiz.de/10010294611
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Limited insurance within the household: Evidence from a field experiment in Kenya
Robinson, Jonathan - 2008
This paper presents results from a randomized field experiment to test for the importance of limited commitment (due to … incomplete contract enforceability) in explaining intra-household risk sharing arrangements in Kenya. The experiment followed 142 … main results. First, since the experimental payments are random, they allow for a direct test of allocative Pareto …
Persistent link: https://www.econbiz.de/10010288145