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Stochastic income and conditional generosity
Kellner, Christian; Reinstein, David; Riener, Gerhard - 2015
before the uncertainty is unresolved, thus a larger donation is required to maintain a positive image. This has implications …
Persistent link: https://www.econbiz.de/10011345573
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Prospect theory, mitigation and adaptation to climate change
Osberghaus, Daniel - 2013
Climate change is one of the most pressing challenges in current environmental policy. Appropriate policies intended to stimulate efficient adaptation and mitigation should not exclusively rely on the assumption of the homo oeconomicus, but take advantage of well-researched alternative...
Persistent link: https://www.econbiz.de/10010327236
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Consistency and aggregation in individual choice under uncertainty
Birchby, Jeff; Gigliotti, Gary; Sopher, Barry - 2011
It is common in studies of individual choice behavior to report averages of the behavior under consideration. In the social sciences the mean is, indeed, often the quantity of interest, but at times focusing on the mean can be misleading. For example, it is well known in labor economics that...
Persistent link: https://www.econbiz.de/10010334258
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Extreme Outcomes Accentuate Overweighting of Low Probabilities and Underweighting of High Probabilities in Experience‐Based Choice
Elston, Thomas W.; Leuthold, Hartmut; Mackenzie, Ian G.; … - In: Journal of Behavioral Decision Making 37 (2024) 2
Subjective inferences of probability are critical for decisions involving uncertainty. Recent studies have suggested …, prior studies regarding the influence of extreme outcomes on decisions involving uncertainty have only done so using 50 … found that uncertainty preferences were influenced by outcome extremity and the relative certainty associated with safe …
Persistent link: https://www.econbiz.de/10014519249
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Subjective expectations and demand for contraception
Miller, Grant; De Paula, Áureo; Valente, Christine - 2020
Nearly one-quarter of married, fertile-age women in Sub-Saharan Africa say that they want to avoid pregnancy but are not using contraceptives. To the best of our knowledge, this paper is the first to study this puzzle in a developing country using detailed data on women's subjective...
Persistent link: https://www.econbiz.de/10012265337
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Subjective expectations and demand for contraception
Miller, Grant; Valente, Christine - 2021
One-quarter of married, fertile-age women in Sub-Saharan Africa report not wanting a pregnancy and yet do not use contraceptives. To study this issue, we collect detailed data on women's subjective probabilistic beliefs and estimate a structural model of contraceptive choices. Our results...
Persistent link: https://www.econbiz.de/10012625401
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Subjective Expectations and Demands for Contraception
Miller, Grant; de Paula, Áureo; Valente, Christine - 2020
One quarter of married, fertile‐age women in Sub‐Saharan Africa report not wanting a pregnancy and yet do not use contraceptives. To study this issue, we collect detailed data on women's subjective probabilistic beliefs and estimate a structural model of contraceptive choices. Our results...
Persistent link: https://www.econbiz.de/10014000557
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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...
Persistent link: https://www.econbiz.de/10010301357
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Are banks using hidden reserves to beat earnings benchmarks? Evidence from Germany
Bornemann, Sven; Kick, Thomas; Memmel, Christoph; … - 2010
Section 340f of the German Commercial Code allows banks to provision against the special risks inherent to the banking business by building hidden reserves. Beyond risk provisioning, these reserves are implicitly accepted as an earnings management device. By analyzing financial statements of...
Persistent link: https://www.econbiz.de/10010303921
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Myopic Loss Aversion, the Equity Premium Puzzle, and GARCH
Ågren, Martin - 2005
This paper concerns the distributional assumptions made on stock returns in the myopic loss aversion (MLA) proposed explanation to the equity premium puzzle. While Benartzi and Thaler (1995) assume temporal independence in these returns, we introduce a more realistic assumption incorporating...
Persistent link: https://www.econbiz.de/10010321544