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Risk Preferences and Demand for Insurance in Peru: A Field Experiment
Galarza, Francisco B.; Carter, Michael R. - 2010
This paper reports the results of behavioral economic experiments conducted in Peru toexamine the relationship amongst risk preferences, loan take-up, and insurance purchase decisions. This area-based yield insurance can help reduce people's vulnerability to large scalecovariate shocks, and can...
Persistent link: https://www.econbiz.de/10009446167
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INCORPORATING RISK PREFERENCES INTO REAL OPTIONS MODELS
Isik, Murat - 2004
This paper develops a framework to link the expected utility analysis to real options models in order to capture the joint effects of risk aversion and irreversibility associated with real investments. It aims at modifying the theory of investment under uncertainty by incorporating decision...
Persistent link: https://www.econbiz.de/10009443612
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More Reasons Why Farmers Have So Little Interest in Futures Markets
Pannell, David J.; Hailu, Getu; Weersink, Alfons; Burt, … - 2007
The use by farmers of futures contracts and other hedging instruments has been observed to be low in many situations … understandable and consistent with rational decision making. Standard models of the decision about optimal hedging show that it is … a lower optimal level of hedging. If a farmer has optimistic price expectations relative to the futures market, the …
Persistent link: https://www.econbiz.de/10009445051
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Time varying risk aversion : an application toenergy hedging
Cotter, John; Hanly, Jim - 2009
of risk aversion that is based on the observed risk preferences of energy hedging market participants. The resulting …
Persistent link: https://www.econbiz.de/10009475637
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Time-varying risk aversion : an application to energy hedging
Cotter, John; Hanly, Jim - 2010
of riskaversion that is based on the observed risk preferences of energy hedging marketparticipants. The resulting …
Persistent link: https://www.econbiz.de/10009475662
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The Response of Consumption in Russian Households to Economic Shocks
Stillman, Steven - 2001
This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During the time period studied in this paper (1994 - 1998), Russia experienced two major economic crises. Both featured extreme movements in the real ruble-dollar exchange rate. The...
Persistent link: https://www.econbiz.de/10009477527
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The response of household wealth to the risk of losing the job : evidence from differences in firing costs
Barceló Varona, Cristina; Villanueva López, Ernesto - 2010
Economic theory predicts that individuals exposed to the risk of losing their job postpone their consumption and accumulate more assets to build a buffer stock of saving. We provide a new test of the hypothesis using substantial variation in severance payments across contracts in the Spanish...
Persistent link: https://www.econbiz.de/10012530288
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Household debt and uncertainty : private consumption after the Great Recession
Estrada García, Angel; Garrote Sánchez, Daniel; … - 2014
Las familias de buena parte de los países desarrollados venían aumentando su endeudamiento desde los años ochenta, y este proceso se aceleró significativamente en los años previos a la Gran Recesión. Al mismo tiempo, durante ese periodo se produjo una disminución de su tasa de ahorro....
Persistent link: https://www.econbiz.de/10012530441
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Three essays in macroeconomics and financial economics
Norman, A. L. (contributor) - 2009
In the first chapter, I analyze the question that whether the elasticity ofintertemporal substitution or risk aversion is more important determinant of precautionarysavings. This is an important question since a significant fraction of the capitalaccumulation is due to precautionary savings...
Persistent link: https://www.econbiz.de/10009429280
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The Welfare Cost of Business Cycles Revisited: Finite Lives and Cyclical Variation in Idiosyncratic Risk
Storesletten, Kjetil; Telmer, Chris I; Yaron, Amir - 2000
This paper investigates the welfare costs of business cycles in a heterogeneous agent, overlapping generations economy which is distinguished by idiosyncratic labor market risk. Aggregate variation arises both in terms of aggregate productivity shocks and countercyclical variation in the...
Persistent link: https://www.econbiz.de/10009441157