Showing 1 - 10 of 343
Persistent link: https://www.econbiz.de/10009266901
Individuals' risk preferences are estimated and employed in a variety of settings, notably including choices in financial, labor, and product markets. Recent work, especially in financial economics, provides estimates of individuals' coefficients of relative risk aversion (CRRA's) in excess of...
Persistent link: https://www.econbiz.de/10012786465
Individuals' risk preferences are estimated and employed in a variety of settings, notably including choices in financial, labor, and product markets. Recent work, especially in financial economics, provides estimates of individuals' coefficients of relative risk aversion (CRRA's) in excess of...
Persistent link: https://www.econbiz.de/10012468845
The choice of the proper discount rate is important in the analysis of projects whose costs and benefits extend into the future, a particularly striking feature of policies directed at climate change. Much of the literature, including prominent work by Arrow et al. (1996), Stern (2007, 2008),...
Persistent link: https://www.econbiz.de/10014179557
In many settings, there are preliminary or interim decision points at which legal cases may be terminated: e …' screening and other exercises of discretion in pursuing investigations. This article analyzes how the decision whether to … into the optimal decision rule – some expected, some subtle, and some counterintuitive. The optimal rule for initial or …
Persistent link: https://www.econbiz.de/10011674088
Persistent link: https://www.econbiz.de/10011795777
Persistent link: https://www.econbiz.de/10011660037
Persistent link: https://www.econbiz.de/10000136570
Rules often are complex in order to distinguish different types of behavior that may have different consequences. Greater complexity thus allows better control of behavior. But individuals may need to incur costs ex ante to determine how more complex rules apply to their contemplated conduct....
Persistent link: https://www.econbiz.de/10013231427
Rules often are complex in order to distinguish different types of behavior that may have different consequences. Greater complexity thus allows better control of behavior. But individuals may need to incur costs ex ante to determine how more complex rules apply to their contemplated conduct....
Persistent link: https://www.econbiz.de/10012475023