Showing 1 - 10 of 14,985
DSGE models are designed to mimic only certain aspects of reality, usually specified moments of observable data. They typically have other implications that are clearly false and lead to their immediate rejection if taken literally. Widely used calibration exercises compare the implications of...
Persistent link: https://www.econbiz.de/10014224704
, we present experimental evidence testing whether this 'good-news, bad-news' effect is present in a financial decision … making context (i.e. a domain that is important for understanding much economic decision making). We find no evidence of …
Persistent link: https://www.econbiz.de/10012064638
, we present experimental evidence testing whether this 'good-news, bad-news' effect is present in a financial decision … making context (i.e. a domain that is important for understanding much economic decision making). We find no evidence of …
Persistent link: https://www.econbiz.de/10012178991
, we present experimental evidence testing whether this 'good-news, bad-news' effect is present in a financial decision … making context (i.e. a domain that is important for understanding much economic decision making). We find no evidence of …
Persistent link: https://www.econbiz.de/10012029067
Persistent link: https://www.econbiz.de/10011758109
financial decision making, i.e. the domain of most applied economic decision making. We find no evidence of asymmetric updating …
Persistent link: https://www.econbiz.de/10011542204
This paper examines how and to what extent parameter estimates can be biased in a dynamic stochastic general equilibrium (DSGE) model that omits the zero lower bound constraint on the nominal interest rate. Our experiments show that most of the parameter estimates in a standard sticky-price DSGE...
Persistent link: https://www.econbiz.de/10013076931
In confidence theory, the decision maker relies on statistical regularities from the economic environment to adopt … prior in Bayesian inference is proportional to the uncertainty related to its distribution, the decision maker arrives at … formation in choice under risk. Three novel experiments are presented that demonstrate the ability of the new theory to explain …
Persistent link: https://www.econbiz.de/10013061467
We examine the nature of best-worst data for modeling consumer preferences and predicting their choices. We show that, contrary to the assumption of widely used models, the best and worst responses do not originate from the same data-generating process. We propose a sequential evaluation model...
Persistent link: https://www.econbiz.de/10013036853
The paper reports laboratory experiments on a day-to-day route choice game with two routes. Subjects had to choose between a main road M and a side road S. The capacity was greater for the main road. 18 subjects participated in each session. In equilibrium the number of subjects is 12 on M and 6...
Persistent link: https://www.econbiz.de/10001771947