Showing 1 - 10 of 18,243
-choice tasks for elicitation of risk attitudes. First, I compare the investment task of Gneezy and Potters (1997) with the standard …
Persistent link: https://www.econbiz.de/10012823266
risk of extreme climate conditions. However, being confronted with inaccurate forecast systems may undermine individuals …
Persistent link: https://www.econbiz.de/10015053857
generalized LRR model is as tractable but more flexible due to its separation of ambiguity aversion from both risk aversion and … variance premium puzzle besides the puzzles of the equity premium, the risk-free rate, and the return predictability …. Specifically, the model matches reasonably well key asset-pricing moments with risk aversion under 5. Model calibration shows that …
Persistent link: https://www.econbiz.de/10012617667
This paper highlights the role of macroeconomic and financial uncertainty in predicting US recessions. In-sample forecasts using probit models indicate that these two variables are the best predictors of recessions at short horizons. Macroeconomic uncertainty has the highest predictive power up...
Persistent link: https://www.econbiz.de/10014092438
Representing ambiguity in the laboratory using a Bingo Blower (which is transparent and not manipulable) and asking the subjects a series of allocation questions (which are more efficient than pairwise choice questions), we obtain data from which we can estimate by maximum likelihood methods...
Persistent link: https://www.econbiz.de/10014177352
This research examined whether people can accurately predict the risk preferences of others.Three experiments featuring … different designs revealed a systematic bias: that participants predicted others to be more risk seeking than themselves in … discrepancy occurred only if the target of prediction was abstract and vanished if the target was vivid. A risk …
Persistent link: https://www.econbiz.de/10014026773
This research explores whether there are systematic cross-national differences in choice-inferred risk preferences … between Americans and Chinese. Study 1 found(a) that the Chinese were signi®cantly more risk seeking than the Americans, yet …(b) that both nationals predicted exactly the opposite Ð that the Americans wouldbe more risk seeking. Study 2 compared …
Persistent link: https://www.econbiz.de/10014026775
across measures. Only the psychometric theory-based risk tolerance measure was found to be correlated to other indicators of …The purpose of this study was to compare and contrast the predictive validity of risk tolerance questionnaires. The … tested questionnaires represented measures derived from economic and psychometric theory. It was determined that …
Persistent link: https://www.econbiz.de/10012897998
-choice tasks for elicitation of risk attitudes. First, I compare the investment task of Gneezy and Potters (1997) with the standard …
Persistent link: https://www.econbiz.de/10012292131
This paper investigates ambiguity attitudes for natural events (temperatures) and how they are updated following new information. Using a general population sample, we first obtain baseline ambiguity attitudes for future weather events based on real temperatures over several past days. Second,...
Persistent link: https://www.econbiz.de/10014431440