Narrow search
Showing 1 - 10 of 14,815
Cover Image
Die (innere) Logik des Entscheidens: Zur neurobiologischen Fundierung ökonomischer Entscheidungen
Lehmann-Waffenschmidt, B. Cornelia; Roth, Gerhard; … - 2008
Ziel des Beitrages ist es, die neueren Erkenntnisse der Neurobiologie zum Entscheidungsverhalten von Menschen für die Entwicklung eines idealtypischen Ablaufplans ökonomischer Entscheidungsvorgänge einzusetzen, indem die Logik deutlich gemacht wird, die den Aufbau des menschlichen Gehirns...
Persistent link: https://www.econbiz.de/10010300600
Cover Image
Prospect theory and hedging risks
Broll, Udo; Egozcue, Martín; Wong, Wing-Keung; … - 2010
The prospect theory is one of the most popular decision-making theories. It is based on the S-shaped utility function …, unlike the von Neumann and Morgenstern (NM) theory, which is based on the concave utility function. The S-shape brings in … mathematical challenges: simple extensions and generalizations of NM theory into the prospect theory cannot be frequently achieved …
Persistent link: https://www.econbiz.de/10010301357
Cover Image
Cross-sectional earnings risk and occupational sorting: the role of risk attitudes
Bonin, Holger; Dohmen, Thomas; Falk, Armin; Huffman, David - 2006
This paper investigates whether risk preferences explain how individuals are sorted into occupations with different earnings variability. We exploit data from the German Socio-Economic Panel, which contains a subjective assessment of willingness to take risks whose behavioral relevance has been...
Persistent link: https://www.econbiz.de/10010267608
Cover Image
The missing link: Unifying risk taking and time discounting
Epper, Thomas; Fehr-Duda, Helga - 2012
Almost all important decisions in people's lives entail risky and delayed consequences. Regardless of whether we make choices involving health, wealth, love or education, almost every choice involves costs and benefits that are uncertain and materialize over time. Because risk and delay often...
Persistent link: https://www.econbiz.de/10010316850
Cover Image
Affective decision making: A theory of optimism bias
Bracha, Anat; Brown, Donald J. - 2010
risk, such as expected utility theory and prospect theory. Hence, to explain the evidence suggesting that agents are …
Persistent link: https://www.econbiz.de/10010280875
Cover Image
From animal baits to investors' preference: Estimating and demixing of the weight function in semiparametric models for biased samples
Ritov, Ya'acov; Härdle, Wolfgang Karl - 2007
We consider two semiparametric models for the weight function in a bias sample model. The object of our interest parametrizes the weight function, and it is either Euclidean or non Euclidean. One of the models discussed in this paper is motivated by the estimation the mixing distribution of...
Persistent link: https://www.econbiz.de/10010274127
Cover Image
The nature of risk preferences: Evidence from insurance choices
Barseghyan, Levon; Molinari, Francesca; O'Donoghue, Ted; … - 2011
We use data on households' deductible choices in auto and home insurance to estimate a structural model of risky choice that incorporates standard risk aversion (concave utility over final wealth), loss aversion, and nonlinear probability weighting. Our estimates indicate that nonlinear...
Persistent link: https://www.econbiz.de/10010292086
Cover Image
Experiments on bivariate risk preferences
Ebert, Sebastian; van de Kuilen, Gijs - 2015
We study cross-risk preferences over wealth and two other attributes to obtain theory-free evidence on correlation …
Persistent link: https://www.econbiz.de/10011301651
Cover Image
Health shocks and risk aversion
Decker, Simon; Schmitz, Hendrik - 2015
Risk preferences are typically assumed to be constant for an individual across the life cycle. In this paper we empirically assess if they are time varying. Specifically, we analyse whether health shocks influence individual risk aversion. We follow an innovative approach and use grip strength...
Persistent link: https://www.econbiz.de/10011382432
Cover Image
First-order and second-order ambiguity aversion
Lang, Matthias - 2015
Different models of uncertainty aversion imply strikingly different economic behavior. The key to understanding these differences lies in the dichotomy between first-order and second-order ambiguity aversion which I define here. My definition and its characterization are independent of specific...
Persistent link: https://www.econbiz.de/10011419378