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Hill, Brian - 2015

A theory of incomplete preferences under uncertainty is proposed, according to which a decision maker's preferences are indeterminate if and only if her confidence in the relevant beliefs does not match up to the stakes involved in the decision. We use the model of confidence in beliefs...

Persistent link: https://www.econbiz.de/10010501287

Do managers overreact to salient risks? : evidence from hurricane strikes

Dessaint, Olivier; Matray, Adrien - 2013

We study how managers respond to hurricane events when their firms are located in the neighborhood of the disaster area. We find that the sudden shock to the perceived liquidity risk leads managers to increase corporate cash holdings and to express more concerns about hurricane risk in...

Persistent link: https://www.econbiz.de/10010391950

Rethinking nudges

Mongin, Philippe; Cozic, Mikaël - 2014

another sense, it is concerned with bounded rationality as a means of the policy, and in still another sense, it is concerned … with bounded rationality as an obstacle to be removed by the policy, when the latter has a benevolent aim. The paper … effects through a clever use of bounded rationality, and it has been shown that the latter is not really at work in the …

Persistent link: https://www.econbiz.de/10010502145

La demande de soins curatifs, l'auto-protection et l'auto-assurance

Razgallah, Mohammed Anouar - Groupe d'Analyse et de Théorie Économique Lyon … - 2004

Using a model of bivariate decision under risk of disease, with separates the financial losses from the health losses, we analyse the curative demand for healthcare and the determinants of overconsumption care problem. We also study the demand for self-protection and the demand for...

Persistent link: https://www.econbiz.de/10004970465

Risk versus ambiguity and international security design

Hill, Brian; Michalski, Tomasz - 2015

We study portfolio allocation and characterize contracts issued by firms in the international financial market when investors exhibit ambiguity aversion and perceive ambiguity in assets issued in foreign locations. Increases in the variance of their risky production process cause firms to issue...

Persistent link: https://www.econbiz.de/10010496775

Uncertainty aversion, multi utility representations and state independence of utility

Hill, Brian - 2015

This paper proposes and characterises a model of uncertainty averse preferences that can simultaneously accommodate three divergences from subjective expected utility: imprecision of beliefs (or ambiguity), imprecision of tastes (or multi utility), and state dependence of utility. Moreover, it...

Persistent link: https://www.econbiz.de/10010501882