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Uncertainty Shocks, Adjustment Costs and Firm Beliefs : Evidence From a Representative Survey
Dibiasi, Andreas; Mikosch, Heiner; Sarferaz, Samad - 2022
This paper studies the dynamic effects of an uncertainty shock on firm expectations. We conduct a survey that confronts managers from a representative firm sample with a model-consistent uncertainty shock scenario. An exogenous increase in uncertainty significantly reduces managers' expected...
Persistent link: https://www.econbiz.de/10013313918
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Subjective uncertainty, expectations, and firm behavior
Lautenbacher, Stefan - 2021
expectations for corporate decisions. Exploiting information on firms' investment and labor reactions to the COVID-19 crisis, I do …
Persistent link: https://www.econbiz.de/10012487869
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Uncertainty shocks, adjustment costs and firm beliefs : evidence from a representative survey
Dibiasi, Andreas; Mikosch, Heiner; Sarferaz, Samad - 2021
This paper studies the dynamic effects of an uncertainty shock on firm expectations. We conduct a survey that confronts managers from a representative firm sample with a model-consistent uncertainty shock scenario. An exogenous increase in uncertainty significantly reduces managers' expected...
Persistent link: https://www.econbiz.de/10012663180
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Eliciting expectation uncertainty from private households
Dovern, Jonas - 2023
Recently, much attention has been devoted to the measurement of macroeconomic (expectation) uncertainty and its impact on aggregate economic fuctuations. This paper presents a new qualitative measure of macroeconomic expectation uncertainty based on data from a German online survey of consumer...
Persistent link: https://www.econbiz.de/10013500843
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Does Uncertainty Boost Overconfidence? The Case of Financial Analysts’ Forecasts
Bessière, Véronique - 2014
overconfidence leads to an overreaction to private information followed by an underreaction when the information becomes public … relationship between forecast revisions and forecast errors. When analysts excessively integrate information in their revisions (i …
Persistent link: https://www.econbiz.de/10013059109
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(Presentation Slides) Investor Overconfidence, Covariance Risk, and Predictors of Securities Returns
Daniel, Kent D. - 2018
Presentation Slides for "Overconfidence, Arbitrage, and Equilibrium Asset Pricing" This paper offers a model in which asset prices reflect both covariance risk and misperceptions of firmsapos prospects, and in which arbitrageurs trade against mispricing. In equilibrium, expected returns are...
Persistent link: https://www.econbiz.de/10012918741
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Assessing non-industrial private forest owners’ attitudes to risk: Do owner and property characteristics matter?
Andersson, Mats - In: Journal of Forest Economics 18 (2012) 1, pp. 3-13
This study relates owner and property characteristics to non-industrial private forest (NIPF) owners’ attitudes to … apply a probit analysis to test how owner and property characteristics influence the NIPF owners’ attitudes to risk. The … results show that characteristics influence the formation of risk attitudes. More explicitly, a longer period of ownership …
Persistent link: https://www.econbiz.de/10011190095
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How do expectations about the macroeconomy affect personal expectations and behavior?
Roth, Christopher; Wohlfart, Johannes - 2018
exposure to macroeconomic risk, consistent with sticky information models in which people are inattentive, but understand how …
Persistent link: https://www.econbiz.de/10011877783
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How do expectations about the macroeconomy affect personal expectations and behavior?
Roth, Christopher; Wohlfart, Johannes - 2018
exposure to macroeconomic risk, consistent with sticky information models in which people are inattentive, but understand how …
Persistent link: https://www.econbiz.de/10011937404
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Sentiments, strategic uncertainty, and information structures in coordination games
Szkup, Michal; Trevino, Isabel - In: Games and economic behavior 124 (2020), pp. 534-553
Persistent link: https://www.econbiz.de/10012432228