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Uncertainty under hyperbolic discounting: The cost of untying your hands

Alcocer, Christian Diego; Ortegón, Julián; Roa, Alejandro - In: Journal of Economics, Finance and Administrative Science 24 (2019) 48, pp. 176-193

The relevance of present consumption bias on personal finance has been confirmed in several studies and has important theoretical and practical implications. It has important, measurable implications when analyzing commitment or self-control, adherence to healthy habits (e.g. exercising or...

Persistent link: https://www.econbiz.de/10013192156

Can Financial Education Extend the Border of Bounded Rationality?

Greenberg, Doron - 2016

When choosing a particular alternative from a number of financial assets, risk is an important feature. According to the classic Capital Assets Pricing Model (CAPM), we would expect to receive a positive correlation between risk and return of financial assets. However, studies show that...

Persistent link: https://www.econbiz.de/10013002413

Behavioral Macroeconomics via Sparse Dynamic Programming

Gabaix, Xavier - 2015

This paper proposes a tractable way to model boundedly rational dynamic programming. The agent uses an endogenously simplified or "sparse" model of the world and the consequences of his actions, and act according to a behavioral Bellman equation. The framework is applied to some of the canonical...

Persistent link: https://www.econbiz.de/10013010008

Uncertainty under hyperbolic discounting : the cost of untying your hands

Alcocer, Christian Diego; Ortegón, Julián; Roa, Alejandro - In: Journal of economics, finance & administrative science 24 (2019) 48, pp. 176-193

Purpose The relevance of present consumption bias on personal finance has been confirmed in several studies and has important theoretical and practical implications. It has important, measurable implications when analyzing commitment or self-control, adherence to healthy habits (e.g. exercising...

Persistent link: https://www.econbiz.de/10012128806

Rational and behavioural predictors of pre-retirement cash-outs

Reyers, Michelle; Schalkwyk, Cornelis Hendrik van; … - In: Journal of Economic Psychology 47 (2015) C, pp. 23-33

Given the worldwide concern that individuals are not saving sufficiently for retirement, many governments are taking action to try and rectify this tendency. A key focus area is implementing policies to dissuade individuals from accessing accumulated retirement funds when changing jobs. While...

Persistent link: https://www.econbiz.de/10011209140

Experimental stock market dynamics : excess bids, directional learning, and adaptive styleinvesting in a call-auction with multiple multiperiod lived assets

Selten, Reinhard; Neugebauer, Tibor - 2018

We study the behavioral dynamics of limit orders in simultaneous experimental call-auction markets with multiple multiperiod lived securities. As analytical decision variable we use excess bids; the number of submitted bids minus the number of offers. The feedback variable is (excess) return....

Persistent link: https://www.econbiz.de/10012233240

Manipulating market sentiment

Piccione, Michele; Spiegler, Ran - In: Economics Letters 122 (2014) 2, pp. 370-373

We analyze a simple model of an asset market, in which a large rational trader interacts with “noise speculators” who seek short-run speculative gains, and become active following a prolonged episode of mispricing relative to the asset’s fundamental value. The model gives rise to price...

Persistent link: https://www.econbiz.de/10011041788

Evolutionary economics and household behavior

Horioka, Charles - In: The Philippine review of economics : a joint … 51 (2014) 2, pp. 67-82

Persistent link: https://www.econbiz.de/10010528438

Slutsky matrix norms and the size of bounded rationality

Aguiar, Victor H.; Serrano, Roberto - 2014

Given any observed demand behavior by means of a demand function, we quantify by how much it departs from rationality … correcting matrix that would yield a Slutsky matrix with its standard rationality properties (symmetry, singularity, and negative … semidefiniteness). A useful classification of departures from rationality is suggested as a result. Variants, examples, and …

Persistent link: https://www.econbiz.de/10010241984

Assumptions of rationality in political marketing : the case of the republican autopsy

Bendle, Neil T.; Cotte, June - In: Journal of nonprofit & public sector marketing 28 (2016) 1, pp. 66-83

Persistent link: https://www.econbiz.de/10011458067

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