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We use data on households' deductible choices in auto and home insurance to estimate a structural model of risky choice that incorporates "standard" risk aversion (concave utility over final wealth), loss aversion, and nonlinear probability weighting. Our estimates indicate that nonlinear...
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Which behavior-based interventions are more appropriate to induce energy saving: energy saving goals with or without incentive, energy saving products, environmentally related information, social comparison or competition? We try to answer this question in a comprehensive study. First, we...
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We use data on insurance deductible choices to estimate a structural model of risky choice that incorporates "standard" risk aversion (diminishing marginal utility for wealth) and probability distortions. We find that probability distortions - characterized by substantial overweighting of small...
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While political experts have long claimed that bad weather lowers voter turnout, the impact of weather on U.S. election … weather affects election outcomes not through its effect on turnout — as has long been assumed — but rather, through its … psychological effect on swing voters. Specifically, we find evidence that bad weather increases regret aversion among supporters of …
Persistent link: https://www.econbiz.de/10012935311