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Valuing Inputs Under Supply Uncertainty : The Bayesian Shapley Value
Pongou, Roland - 2016
strategy Nash equilibrium. We present several applications of our theory to real-life situations …
Persistent link: https://www.econbiz.de/10012980207
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Which Workers Get Insurance within the Firm?
Lagakos, David - 2013
-skilled industries. Our theory is that low-skilled workers get relatively less insurance from their firms because they have relatively … industry support the theory's predictions …
Persistent link: https://www.econbiz.de/10013091742
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Exploring the role of uncertainty for corporate investment decisions in Germany
Kalckreuth, Ulf von - 2000
The impact of uncertainty on firms' investment outlays is subject to an ongoing debate. Theory identifies several …Der Einfluss von Unsicherheit auf das Investitionsverhalten von Unternehmen ist Gegenstand einer fortdauernden …, Finanzierungsrestriktionen und Risikoaversion eine dämpfende Wirkung erwarten. Auf der anderen Seite kann die Fähigkeit von Unternehmen, sich …
Persistent link: https://www.econbiz.de/10011418846
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The effect of better information on income inequality
Eckwert, Bernhard; Zilcha, Itzhak - 2003
We consider an OLG economy with endogenous investment in human capital. Heterogeneity in individual human capital levels is generated by random innate ability. The production of human capital depends on each individual s investment in education. This investment decision is taken only after...
Persistent link: https://www.econbiz.de/10011507996
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Fertility Choice in a Life Cycle Model with Idiosyncratic Uninsurable Earnings Risk
Sommer, Kamila - 2014
This paper studies the link between rising income uncertainty and household fertility patterns in an Aiyagari-Bewley-Huggett framework augmented to include fertility decisions and infertility risk. Building on Becker and Tomes (1976), I model fertility decisions as sequential, irreversible...
Persistent link: https://www.econbiz.de/10013054123
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The Effect of Better Information on Income Inequality
Eckwert, Bernhard; Zilcha, Itzhak - 2021
We consider an OLG economy with endogenous investment in human capital. Heterogeneity in individual human capital levels is generated by random innate ability. The production of human capital depends on each individual's investment in education. This investment decision is taken only after...
Persistent link: https://www.econbiz.de/10013319888
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Uncertainty about future income : initial beliefs and resolution during college
Gong, Yifan; Stinebrickner, Todd R.; Stinebrickner, Ralph - In: Quantitative economics : QE ; journal of the … 10 (2019) 2, pp. 607-641
We use unique data from the Berea Panel Study to characterize how much earnings uncertainty is present for students at college entrance and how quickly this uncertainty is resolved. We characterize uncertainty using survey questions that elicit the entire distribution describing one’s beliefs...
Persistent link: https://www.econbiz.de/10012042447
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Risk and heterogeneity in benefits from vocational versus general secondary-education : estimates for early and mature career stages in Portugal
Hartog, Joop; Raposo, Pedro; Reis, Hugo - 2023
We estimate a dynamic model of individual labour market careers (turnover and search, wage development) on Portuguese panel data of graduates from vocational and general secondary education. We find that vocational graduates benefit more from the internal labour market than from the external...
Persistent link: https://www.econbiz.de/10014309585
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The firm under uncertainty : capital structure and background risk
Broll, Udo; Wong, Keith K.P. - 2010
This paper examines the interplay between the real and financial decisions of the competitive firm under output price uncertainty. The firm faces additional sources of uncertainty that are aggregated into a background risk. We show that the firm always chooses its optimal debt-equity ratio to...
Persistent link: https://www.econbiz.de/10003971039
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Prospect theory and hedging risks
Broll, Udo; Egozcue, Martín; Wong, Wing Keung; … - 2010
The prospect theory is one of the most popular decision-making theories. It is based on the S-shaped utility function …, unlike the von Neumann and Morgenstern (NM) theory, which is based on the concave utility function. The S-shape brings in … mathematical challenges: simple extensions and generalizations of NM theory into the prospect theory cannot be frequently achieved …
Persistent link: https://www.econbiz.de/10003980000