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The Resolution of Uncertainty in the Value and Probability Domains

Lee, Eungik; Ngangoue, Kathleen; Schotter, Andrew - 2024

We compare preferences for temporal resolution when uncertainty is resolved over a probability rather than a value. In various frameworks–e.g., Kreps and Porteus (1978)–, preferences over gradual versus one-shot resolution do not depend on whether values or probabilities define the main...

Persistent link: https://www.econbiz.de/10014534430

Impact of elimination of dividend distribution tax on Indian corporate firms amid COVID disruptions

Agrawal, Anshu - In: Journal of Risk and Financial Management 14 (2021) 9, pp. 1-38

Economic fallouts from COVID-19 have been unprecedented across all industries, with a handful of exceptions. The present study attempts to capture the impact of dividend distribution tax elimination, introduced through the Indian Finance Act 2020, on corporate dividend behavior in India. It...

Persistent link: https://www.econbiz.de/10013201097

Economic evaluation of process utility: Elucidating preferences for a non-invasive procedure to treat restenosis

Aviles-Blanco, Maria V. - In: Health Economics Review 11 (2021) 1, pp. 1-10

Background: In health economic evaluation, utility associated with a health state is outcome-oriented and usually measured using the QALY methodology. Even though there is consistent evidence of utility not only being derived from outcomes but also from procedures, process utility has not been...

Persistent link: https://www.econbiz.de/10014489900

Outcome, Process & Power in Direct Democracy

Frey, Bruno S.; Kucher, Marcel; Stutzer, Alois - 1999

Based on survey data for Switzerland, new empirical findings on direct democracy are presented. In the first part, we show that, on average, public employees receive lower financial compensation under more direct democratic institutions. However, top bureaucrats are more constrained in direct de...

Persistent link: https://www.econbiz.de/10010314954

The Origins and Extent of Entrepreneurial Action-Orientedness: An Experimental Study

Barirani, Ahmad; Sloof, Randolph; van Praag, Mirjam - 2017

We test the hypothesis, based on popular and theoretical perspectives, that entrepreneurs are more action-oriented than … action-oriented than others. We theorize that this is driven by their lower levels of loss aversion and higher levels of … on curiosity and lower on loss aversion; (ii) the di fference in action-orientedness between entrepreneurs and others …

Persistent link: https://www.econbiz.de/10011586731

The Origins and Extent of Entrepreneurial Action-Orientedness: An Experimental Study

Barirani, Ahmad; Sloof, Randolph; van Praag, Mirjam C. - 2017

We test the hypothesis, based on popular and theoretical perspectives, that entrepreneurs are more action-oriented than … action-oriented than others. We theorize that this is driven by their lower levels of loss aversion and higher levels of … on curiosity and lower on loss aversion; (ii) the difference in action-orientedness between entrepreneurs and others …

Persistent link: https://www.econbiz.de/10011653226

The role of refinancing in the interest rate pass-through to fixed-rate mortgage contracts

Hensch, Jonas Ladegaard - 2021

In this paper, I study how mortgage refinancing influences the interest rate pass-through to household budgets via fixed-rate mortgage contracts in Denmark. I develop a model based on a state-dependent process of household actions that endogenously determines household refinancing decisions as a...

Persistent link: https://www.econbiz.de/10012659983

Trading networks with frictions

Fleiner, Tamás; Jagadeesan, Ravi; Jankó, Zsuzsanna; … - 2020

We show how frictions and continuous transfers jointly affect equilibria in a model of matching in trading networks. Our model incorporates distortionary frictions such as transaction taxes, bargaining costs, and incomplete markets. When contracts are fully substitutable for firms, competitive...

Persistent link: https://www.econbiz.de/10012290311

The odds of profitable market timing

Buzzacchi, Luigi; Ghezzi, Luca - In: Journal of Risk and Financial Management 14 (2021) 6, pp. 1-14

This statistical study refines and updates Sharpe's empirical paper (1975, Financial Analysts Journal) on switching between US common stocks and cash equivalents. According to the original conclusion, profitable market timing relies on a representative portfolio manager who can correctly...

Persistent link: https://www.econbiz.de/10012611807

Real estate brokers and commission: Theory and calibrations

Shy, Oz - 2009

of a house and the real estate broker hired by the seller. The model is then used to calibrate the broker's commission … to reduce prices generates faster sales and hence improves social welfare, the usual commission rate of 6 percent exceeds … the buyer's and seller's brokers and the agencies that employ these realtors) split the commission, then a 6 percent …

Persistent link: https://www.econbiz.de/10010280960