Showing 1 - 10 of 34
We propose an experimental method to test individuals for prudence (i.e. downside risk aversion) outside the expected utility framework. Our method relies on a novel representation of compound lotteries which allows for a systematic parameterization that captures the full generality of prudence....
Persistent link: https://www.econbiz.de/10010270008
In this paper, we propose a general mathematical model for analyzing yield data. The data analyzed in this paper come from a characteristic corn field in the upper midwestern United States. We derive expressions for statistical moments from the underlying stochastic model. Consequently, we...
Persistent link: https://www.econbiz.de/10013201081
We contrast a standard deterministic signaling game with one where the signal-generating mechanism is stochastic. With stochastic signals a unique equilibrium emerges that involves separation and has intuitive comparative-static properties as the degree of signaling depends on the prior type...
Persistent link: https://www.econbiz.de/10010307240
This short paper is a comment on ``Testing for Nonlinear Structure and Chaos in Economic Time Series'' by Catherine Kyrtsou and Apostolos Serletis. We summarize their main results and discuss some of their conclusions concerning the role of outliers and noisy chaos. In particular, we include...
Persistent link: https://www.econbiz.de/10010325181
performance. Measured performance equals actual performance plus noise. We compare a stable environment where the noise is small … with a volatile environment where the noise is large. Subjects exert significantly more effort in the volatile environment …
Persistent link: https://www.econbiz.de/10010325762
methods to disentangle the offsetting noise and accessibility effects of one technology of mass transit, metro rail, analyzing … land prices (house prices) by 21% (5%), while a 10 db increase in noise depreciates land prices (house prices) by 5% (1 …%). We show that these effects are underestimated by 40% (access) to 80% (noise) if they are not estimated conditional on …
Persistent link: https://www.econbiz.de/10011555500
We investigate strategic information transmission with communication error, or noise. Our main finding is that adding … noise can improve welfare. With quadratic preferences and a uniform type distribution, welfare can be raised for almost … every bias level by introducing a sufficiently small amount of noise. Furthermore, there exists a level of noise that makes …
Persistent link: https://www.econbiz.de/10011599393
prices related (news) and not related (noise) to future fundamentals. I provide empirical evidence of the sizable … macroeconomic effects of news and noise shocks. Following Forni et al. (2014, 2016), I identify news and noise shocks through a non … frequencies, but in the short-medium horizon noise shocks explain a large share of the variability in housing prices, residential …
Persistent link: https://www.econbiz.de/10011605978
Noise pollution is detrimental to health and to cognitive development of children. This is not only true for extreme … levels of noise in the neighborhood of an airport but also to traffic noise in urban areas. Using a census of preschool … children, we show that children who are exposed to intensive traffic noise significantly fall behind in terms of school …
Persistent link: https://www.econbiz.de/10011615836
Noise pollution is detrimental to health and to cognitive development of children. This is not only true for extreme … levels of noise in the neighborhood of an airport but also to traffic noise in urban areas. Using a census of preschool … children, we show that children who are exposed to intensive traffic noise significantly fall behind in terms of school …
Persistent link: https://www.econbiz.de/10011622180