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Most information research devoted to on-line discussion forums involves content analysis of postings, and is thereby skewed to those participants who actively post. The research reported in this paper aims to uncover the information behaviour of people who participate more passively in these...
Persistent link: https://www.econbiz.de/10008677347
"Expectations regarding the economic development might be correlated due to various reasons: because individuals use the same public information and similar evaluation methods, and because of social learning or herding amongst peers. We analyse to what extent expectations are driven by herd...
Persistent link: https://www.econbiz.de/10010641636
Gegenstand der vorliegenden Arbeit ist die Analyse des Einflusses der Faktoren Konjunkturerwartung, Risikoaversion des … Risikoaversion des Kapitalmarktes auf die Marktwerte von CDOs verschiedener Seniorität analysiert. Die Höhe der Risikoaversion … und die Höhe der Risikoaversion des Kapitalmarktes die Kreditvergabestandards der Institute zu beeinflussen vermag …
Persistent link: https://www.econbiz.de/10005187262
Im Zuge der Energiewende treten immer mehr Bioenergieanlagenbetreiber an Landwirte heran, um ihren Biomassebedarf langfristig vertraglich abzusichern. Sie verfügen jedoch nur über wenig Erfahrung bezüglich Vertragsmotivationen von Landwirten. Vor diesem Hintergrund wird auf Basis einer...
Persistent link: https://www.econbiz.de/10011069529
As in any research field, risk theory has its important questions, results, and paradoxes, as well as its seminal papers and key authors. Louis Eeckhoudt has been a key author in the field of risk theory. To celebrate his many contributions and continue the development of theories of decision...
Persistent link: https://www.econbiz.de/10010968958
This paper tests whether utility is the same for risk and for uncertainty. This test is critical for models that capture ambiguity aversion through a difference in event weighting between risk and uncertainty, like the multiple priors models and prospect theory. We present a new method to...
Persistent link: https://www.econbiz.de/10010969007
We show that if an agent is uncertain about the precise form of his utility function, his actual relative risk aversion may depend on wealth even if he knows his utility function lies in the class of constant relative risk aversion (CRRA) utility functions. We illustrate the consequences of this...
Persistent link: https://www.econbiz.de/10010986389
Did the August 2011 European short sale bans on financial stocks accomplish their goals? In order to answer this question, we use stock options' implied volatility skews to proxy for investors' risk aversion. We find that on ban announcement day, risk aversion levels rose for all stocks but more...
Persistent link: https://www.econbiz.de/10010986416
Climate change involves uncertain probabilities of catastrophic risks, and very longterm consequences of current actions. Climate economics, therefore, is centrally concerned with the treatment of risk and time. Yet conventional assumptions about utility and optimal economic growth create a...
Persistent link: https://www.econbiz.de/10010987468
Gatekeepers have an increasing role in taxation and regulation. Whereas burdening them with legal liability for misconducts that benefit those who resort to their services actually discourages wrongdoings—as will be clarified in the article—an alienation effect can also arise. The gatekeeper...
Persistent link: https://www.econbiz.de/10010987603