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strongly associated with optimism, a stable facet of personality, and that it predicts real-life risk taking. The general risk … general risk question across domains. Our results also rationalize why risk taking is related to optimism. …
Persistent link: https://www.econbiz.de/10011986900
strongly associated with optimism, a stable facet of personality and that it predicts real-life risk taking. The general risk … why risk taking is related to optimism. …
Persistent link: https://www.econbiz.de/10011880595
We employ a novel approach to investigate the reasons for a low demand for agricultural insurance. We confirm that … farmers systematically undervalue agricultural insurance. First, we find that private transfers, mainly from family members …, explain under-valuation of agricultural insurance. Second, membership of a farmer's union, interpreted as a form of social …
Persistent link: https://www.econbiz.de/10011894385
This paper explores how changes in macroeconomic uncertainty have affected the decision to reply to the European Central Bank’s Survey of Professional Forecasters (ECB’s SPF). The results suggest that higher (lower) aggregate uncertainty increases (reduces) non-response to the survey. This...
Persistent link: https://www.econbiz.de/10011550240
This paper explores how changes in macroeconomic uncertainty have affected the decision to reply to the European Central Bank's Survey of Professional Forecasters (ECB's SPF). The results suggest that higher (lower) aggregate uncertainty increases (reduces) non-response to the survey. This...
Persistent link: https://www.econbiz.de/10011492744
This article examines the link between uncertainty and analysts' reaction to earnings announcements for a sample of European firms during the period 1997-2007. In the same way as Daniel, Hirshleifer and Subrahmanyam (1998), we posit that overconfidence leads to an overreaction to private...
Persistent link: https://www.econbiz.de/10013059109
Using a long-panel dataset of Japanese firms that contains firm-level sales forecasts, we provide evidence on firm-level uncertainty and imperfect information over their life cycle. We find that firms make non-negligible and positively correlated forecast errors. However, they make more precise...
Persistent link: https://www.econbiz.de/10012258487
We open a New Keynesian Phillips curve model to nonrecurring structural shifts in its parameters and propose a novel implementation of Muth’s hypothesis to represent market participants’ inflation expectations under Knightian uncertainty arising from such shifts. We refer to our approach as...
Persistent link: https://www.econbiz.de/10014264056
Reputational risk has become a critical concern for most organizations. Insurers, who rely on trust to generate business, are particularly vulnerable. Maintaining a positive reputation, however, is costly, leading to the potential for moral hazard in the form of choosing a lowercost strategy...
Persistent link: https://www.econbiz.de/10013088818
insurance markets. "The Economics of Uncertainty and Insurance" is relatively short (220 pages) and richly illustrated with 80 …
Persistent link: https://www.econbiz.de/10012890320