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Risk attitudes with state-dependent indivisibilities in consumption
Fels, Markus - 2019
risk averse anymore even if utility from divisible consumption is concave. I propose a definition of insurance in the … context of state-dependent preferences and investigate the different motives underlying insurance demand. The same reasons … that bases insurance demand on risk aversion with important implications for policy and research. …
Persistent link: https://www.econbiz.de/10011998942
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Labor and financial market interactions : the case of labor income risk and car insurance in the UK 1969-95
Koeniger, Winfried - 2001
and car insurance using data from the UK. The main empirical results are: - higher labor income risk induces a higher … demand for car insurance. - the effects of increases in labor income risk after 1979 seem to be more than offset by a more …
Persistent link: https://www.econbiz.de/10011339678
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Income risk, precautionary saving, and loss aversion : an empirical test
Ibanez, Marcela; Schneider, Sebastian O. - 2021
This paper empirically examines the behavioral precautionary saving hypothesis by Koszegi and Rabin (2009) stating that uncertainty about future income triggers saving because of loss aversion. We extend their theoretical analysis to also consider the internal margin, i.e., the strength, of loss...
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 triggers an increase in saving because of loss aversion. Guided by the theoretical model of Koszegi and Rabin (2009), we first extend their theoretical analysis to also consider...
Persistent link: https://www.econbiz.de/10014312199
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Optimal Stopping with General Risk Preferences
Duraj, Jetlir - 2020
We give a full characterization of the continuation and stopping regions of optimal stopping of diffusions. We consider separately the case of a naive agent who is unaware of the possible time inconsistency in her behavior and the case of a sophisticated agent who is fully aware of such an...
Persistent link: https://www.econbiz.de/10012854784
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Where You Stand Affects the Risks You Take : Socially Reference-Dependent Risk Attitudes
Lien, Jaimie W. - 2015
How does an individual's position within a social distribution influence their desire to take risk? Reference-dependent loss aversion (Kahneman and Tversky, 1979; Koszegi and Rabin, 2006, 2007) adapted to a social setting, suggests that individuals may find risk more appealing when they are doing...
Persistent link: https://www.econbiz.de/10013018811
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Labor and Financial Market Interactions: The Case of Labor Income Risk and Car Insurance in the UK 1969-95
Koeniger, Winfried - 2001
and car insurance using data from the UK. The main empirical results are: ? higher labor income risk induces a higher … demand for car insurance. ? the effects of increases in labor income risk after 1979 seem to be more than offset by a more …
Persistent link: https://www.econbiz.de/10010262448
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Risk and Return Determinants of US Insurers
Zhang, Li - 2019
This paper identifies the risk and risk-adjusted return determinants of US insurers. We find that the significant firm-specific determinants for risk and risk-adjusted return vary slightly for the risk proxy and risk-adjusted return proxy used, and the types of insurers. We find that in general,...
Persistent link: https://www.econbiz.de/10012891882
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Labor and Financial Market Interactions : The Case of Labor Income Risk and Car Insurance in the UK 1969-95
Koeniger, Winfried - 2021
and car insurance using data from the UK. The main empirical results are: -higher labor income risk induces a higher … demand for car insurance. -the effects of increases in labor income risk after 1979 seem to be more than offset by a more …
Persistent link: https://www.econbiz.de/10013321044
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Risk attitudes with state-dependent indivisibilities in consumption
Fels, Markus - 2019
insurance in the context of state-dependent preferences and investigate the different motives underlying insurance demand. The … standard approach that bases insurance demand on risk aversion with important implications for policy and research. …
Persistent link: https://www.econbiz.de/10012231153