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We examine the investment decision problem of a group whose members have heterogeneous time preferences. In particular … exponential discounting for their collective investment decisions even if all agents discount exponentially. We also exhibit …
Persistent link: https://www.econbiz.de/10013231573
We examine the investment decision problem of a group whose members have heterogeneous time preferences. In particular … exponential discounting for their collective investment decisions even if all agents discount exponentially. We also exhibit …
Persistent link: https://www.econbiz.de/10012469069
We examine the investment decision problem of a group whose members have heterogeneous time preferences. In particular … exponential discounting for their collective investment decisions even if all agents discount exponentially. We also exhibit …
Persistent link: https://www.econbiz.de/10013319991
study, I examine how introducing a time delay into the execution of an investment plan influences individuals' risk … outset, in the Decision Stage (Stage 1), each subject was asked to make an investment plan by splitting a monetary investment … amount between a risky asset and a safe asset. Subjects were informed that the investment plans they made in the Decision …
Persistent link: https://www.econbiz.de/10012118320
Persistent link: https://www.econbiz.de/10010247971
When finding the optimal consumption and investment decision rules of an individual, accounting for a change in the … sufficiently large habit formation lead to a hump-shaped consumption pattern and a decreasing investment into the risky asset, as …
Persistent link: https://www.econbiz.de/10013022558
dynamically optimize over consumption, investment in capital, and investment in information. The model predicts that investors … financial sector, such as the sources of variation in returns on information acquisition for investment banks or private equity …
Persistent link: https://www.econbiz.de/10013025129
This paper explores the relationship between linguistic variation and individual attitudes toward risk and uncertainty. We propose an innovative marker that classifies languages according to the number of non-indicative moods in the grammatical contexts involving uncertainty. We find that...
Persistent link: https://www.econbiz.de/10012903730
We survey clients of a German online bank to study retail investors' beliefs about the autocorrelation of annual returns of the aggregate stock market, and the role of these beliefs in financial decisions. A majority of our respondents believe in mean reversion of aggregate returns, and these...
Persistent link: https://www.econbiz.de/10013236158
I hypothesize that firms are more likely to make investments that reduce their CO2 emissions intensity if the threat of climate change is more salient. To test this, I examine mergers and acquisitions (M&A) in the US from 2012-2021 and exploit exogenous variation in exposure to abnormally warm...
Persistent link: https://www.econbiz.de/10014239270