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In a nationally-representative sample, we predict retirement savings using survey-based elicitations of exponential-growth bias (EGB) and present bias (PB). We find that EGB, the tendency to neglect compounding, and PB, the tendency to value the present over the future, are highly significant...
Persistent link: https://www.econbiz.de/10012911197
Wage inequality in Chile has remained high for decades and it is currently at the center of the political agenda. Increasing education of workers is expected to contribute to reduce wage inequality. Based on historical trends of age, education, and returns to education, this paper attempts to...
Persistent link: https://www.econbiz.de/10003746852
We study how individual unemployment expectations are shaped and updated using a unique longitudinal survey data set with subjective unemployment expectations. The survey data is linked with third-party reported administrative data on unemployment realizations, such that we are able to examine...
Persistent link: https://www.econbiz.de/10014263949
This paper provides a simple theoretical framework for assessing the empirical linkages between returns and realized and implied volatilities. First, we show that whereas the volatility feedback effect as measured by the sign of the correlation between contemporaneous return and realized...
Persistent link: https://www.econbiz.de/10014236285
This study aims to develop nine different consumer bankruptcy forecasting models with the help of three types of artificial neural networks and to verify the usefulness of new, innovative ratios for implementation in personal finance. A learning sample comprising 200 consumers, and a testing...
Persistent link: https://www.econbiz.de/10015189726
We analyze experimental evidence on whether untrained subjects can predict how trustworthy an individual is. Two players on a TV show play a high stakes prisoner's dilemma with pre-play communication. Our subjects report probabilistic beliefs that each player cooperates, before and after...
Persistent link: https://www.econbiz.de/10014213778
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tested questionnaires represented measures derived from economic and psychometric theory. It was determined that … questionnaires based on economic theory had similar predictive power, implying that both measures provided some degree of reliability … across measures. Only the psychometric theory-based risk tolerance measure was found to be correlated to other indicators of …
Persistent link: https://www.econbiz.de/10012897998