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Risks in Advanced Age
Guillemette, Michael - 2017
• This paper reviews both published and emerging research on different risks retirees face and possible solutions financial planners can use to help clients overcome behavioral hurdles.• Risk assessment questions that measure loss aversion, as well as reducing myopic behavior, can help keep...
Persistent link: https://www.econbiz.de/10012961137
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Incentive and Welfare Effects of Idiosyncratic Return Risk
Courbage, Christophe - 2020
We provide a microeconomic analysis of the incentive and welfare effects of idiosyncratic return risk. While most of the existing literature has focused on risky returns as an aggregate shock, we allow for correlation between returns and the agent's non-financial endowment. Using a simple...
Persistent link: https://www.econbiz.de/10012852575
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Does the Risk of Poverty Reduce Happiness?
Caria, Antonio Stefano - 2014
the effect of two-sided uncertainty. A matched behavioural experiment shows that respondents are significantly loss …-averse. We conclude that downside risk is an important determinant of happiness and of economic decisions under uncertainty …
Persistent link: https://www.econbiz.de/10013055066
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Agent-based modeling for decision making in economics under uncertainty
Vermeulen, Ben; Pyka, Andreas - 2015
Ever since the emergence of economics as a distinct scientific discipline, policy makers have turned to economic models to guide policy interventions. If policy makers seek to enhance growth of an open capitalist economy, they have to take into account, firstly, the uncertainties,...
Persistent link: https://www.econbiz.de/10011281255
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Agent-based modeling for decision making in economics under uncertainty
Vermeulen, Ben; Pyka, Andreas - 2016
Ever since the emergence of economics as a distinct scientific discipline, policy makers have turned to economic models to guide policy interventions. If policy makers seek to enhance growth of an open capitalist economy, they have to take into account, firstly, the uncertainties,...
Persistent link: https://www.econbiz.de/10011422415
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Innovation under Ambiguity and Risk
Coiculescu, Gabriela; Izhakian, Yehuda (Yud); Ravid, S. … - 2021
We view innovation investment as a real option and explore the implications of ambiguity (Knightian uncertainty) and …
Persistent link: https://www.econbiz.de/10013217074
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Income risk, precautionary saving, and loss aversion : an empirical test
Ibanez, Marcela; Schneider, Sebastian O. - 2021
uncertainty about future income triggers saving because of loss aversion. We extend their theoretical analysis to also consider …
Persistent link: https://www.econbiz.de/10012438025
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Income risk, precautionary saving, and loss aversion : an empirical test
Ibanez, Marcela; Schneider, Sebastian O. - 2023
This paper empirically examines the behavioral precautionary saving hypothesis that uncertainty about future income …
Persistent link: https://www.econbiz.de/10014312199
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Uncertainty, financial crises, and subjective well-being
Tonzer, Lena - 2017
This paper focuses on the effect of uncertainty as reflected by financial market variables on subjective well … report lower levels of life satisfaction in times of higher uncertainty approximated by stock market volatility. This effect … educated, and live in one of the GIIPS countries of the euro area. Furthermore, higher uncertainty in combination with a …
Persistent link: https://www.econbiz.de/10011589397
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Vulnerability in a stochastic dynamic model
Elbers, Chris; Gunning, Jan Willem - 2003 - Rev.
Most measures of vulnerability are a-theoretic and essentially static. In this paper we use a stochastic Ramsey model to find a household's optimal welfare and we measure vulnerability as the shortfall from the welfare attained if the household consumed permanently at the poverty line. The...
Persistent link: https://www.econbiz.de/10011334363