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Due to the lack of descriptive information about the effectiveness of risk management activities, decision-makers often …
Persistent link: https://www.econbiz.de/10013019703
Dynamic rational inattention problems used to be difficult to solve. This paper provides simple, analytical results for dynamic rational inattention problems. We start from the benchmark rational inattention problem. An agent tracks a variable of interest that follows a Gaussian process. The...
Persistent link: https://www.econbiz.de/10011636897
" (RMORSA) to improve risk-to-reward decision-making in general, and business planning in particular. This paper profiles …
Persistent link: https://www.econbiz.de/10013100389
We present a new mechanism for encouraging risk taking within organizations that relies on the provision of decision …
Persistent link: https://www.econbiz.de/10014028009
Call centers' managers are interested in obtaining accurate forecasts of call arrivals because these are a key input in staffing and scheduling decisions. Therefore their ability to achieve an optimal balance between service quality and operating costs ultimately hinges on forecast accuracy. We...
Persistent link: https://www.econbiz.de/10012963528
We investigate the benefits of forecast combination for timing equity factors based on predictive regressions using macro predictors. Relative to standard predictive regression models, forecast combination reduces the noise of forecasts and hence improves their out-of-sample predictive accuracy....
Persistent link: https://www.econbiz.de/10012839669
Risk management is now present in many economic sectors. This paper investigates the role of risk management in creating value for financial institutions by analyzing U.S. property-liability insurers. Property-liability insurers are financial intermediaries whose primary role in the economy is...
Persistent link: https://www.econbiz.de/10012709777
This paper reviews household property risk management and estimates normatively optimal choice under theoretical assumptions. Although risk retention limits are common in the financial planning industry, estimates of optimal risk retention that include both financial and human wealth far exceed...
Persistent link: https://www.econbiz.de/10013146583
The paper examines in the laboratory how risk-taking situations are affected by the conditions of observing other's choices (observer) and being observed by others (source). By extending Yechiam et al.'s (2008) experimental design to the domain of gains we find that observers are more probable...
Persistent link: https://www.econbiz.de/10013078619
Call centers' managers are interested in obtaining accurate forecasts of call arrivals because these are a key input in staffing and scheduling decisions. Therefore their ability to achieve an optimal balance between service quality and operating costs ultimately hinges on forecast accuracy. We...
Persistent link: https://www.econbiz.de/10011599302