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Hill, Brian - 2014

One apparent reason for deferring a decision – abstaining from choosing, leaving the decision open to be taken by someone else, one’s later self, or nature – is for lack of sufficient confidence in the relevant beliefs. This paper develops an axiomatic theory of decision in situations...

Persistent link: https://www.econbiz.de/10010501389

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

Detecting heterogeneous risk attitudes with mixed gambles

Bruhin, Adrian; Mata, José; Astebro, Thomas B. - 2014

We propose a task for eliciting attitudes towards risk that is close to real world risky decisions which typically involve gains and losses. The task consists of accepting or rejecting gambles that provide a gain with probability p and a loss with probability 1 − p. We employ finite mixture...

Persistent link: https://www.econbiz.de/10010499766

Incomplete preferences and confidence

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

Aggregating tastes, beliefs, and attitudes under uncertainty

Danan, Eric; Gajdos, Thibault; Hill, Brian; Tallon, … - 2014

Expected Utility model, the Choquet Expected Utility model and the Smooth Ambiguity model. We end with a characterization of … the aggregation of ambiguity attitudes …

Persistent link: https://www.econbiz.de/10010501419

Uncertainty aversion, multi utility representations and state independence of utility

Hill, Brian - 2015

three divergences from subjective expected utility: imprecision of beliefs (or ambiguity), imprecision of tastes (or multi …

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

Warm-Glow Giving and Freedom to Be Selfish

Evren, Ozgur; Minardi, Stefania - 2013

Warm-glow refers to other-serving behavior that is valuable for the actor per se, apart from its social implications. We provide axiomatic foundations for warm-glow by viewing it as a form of preference for larger choice sets driven by one's desire for freedom to act selfishly. Specifically, an...

Persistent link: https://www.econbiz.de/10010391946

Risk versus ambiguity and international security design

Hill, Brian; Michalski, Tomasz - 2015

investors exhibit ambiguity aversion and perceive ambiguity in assets issued in foreign locations. Increases in the variance of …' perceived ambiguity have the opposite effect, and lead to less risk-sharing. Entrepreneurs from capital-scarce countries finance … ambiguity, that is, when investors only perceive risk. New facts uncovered from cross-country firm-level data are consistent …

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

Sécurité Routière Des Flottes Et Des Conducteurs De Véhicules Lourds (Road Safety for Fleets and Drivers of Trucks)

Dionne, Georges - 2020

French Abstract: La sécurité routière des flottes et des conducteurs de véhicules lourds a été fortement négligée dans la littérature de l'assurance. Cette lacune est principalement expliquée par la non-disponibilité de données adéquates. Notre contribution consiste à : 1)...

Persistent link: https://www.econbiz.de/10012826359

Risque relatif et sélection d'équilibre dans un jeu de coordination : une analyse expérimentale

Dubois, Dimitri; Willinger, Marc; Van, Phu Nguyen - Théorie Économique, Modélisation, Application … - 2006

We compare the experimental results of three stag-hunt games. In contrast to Battalio et al.(2001), our design keeps the relative riskiness of the two strategies at a constant level as the optimisation premium is increased. Furthermore, we also test the effect of a decrease of the relative...

Persistent link: https://www.econbiz.de/10005328255