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Opportunity, not Welfare: How Behavioral Insights Should Lead to a Reorientation of the Normative Foundation in Law and Economics
van Emmerick, Elias; Dold, Malte - In: Journal of Contextual Economics – Schmollers Jahrbuch 142 (2022) 1, pp. 21-40
hold context-independent, stable preferences across different legal arrangements. We suggest an alternative normative focus …-dependent preferences. …
Persistent link: https://www.econbiz.de/10014523522
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Updating preferences with multiple priors
Klibanoff, Peter; Hanany, Eran - In: Theoretical Economics 2 (2007) 3, pp. 261-298
. These rules apply to the preferences with multiple priors of Gilboa and Schmeidler (1989), and are the first, for any model … of preferences over acts, to be able to reconcile typical behavior in the face of ambiguity (as exemplified by Ellsberg … set of priors, where the specific subset depends on the preferences, the conditioning event, and the choice problem (i …
Persistent link: https://www.econbiz.de/10011599390
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A quasi-hyperbolic discounting approach to smoking behavior
Ida, Takanori - In: Health Economics Review 4 (2014) 5, pp. 1-11
Addiction has attracted considerable attention in health and behavioral economics, and economists have attempted to understand addiction from the viewpoint of decision making over time. This paper investigates whether two time preference parameters can successfully predict smoking status,...
Persistent link: https://www.econbiz.de/10011599808
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A tale of two debt crises: a stochastic optimal control analysis
Stein, Jerome L. - In: Economics: The Open-Access, Open-Assessment E-Journal 4 (2010) 2010-3, pp. 1-24
Creditors, banks and bank regulators should evaluate whether a borrower is likely to default. I apply several techniques in the extensive mathematical literature of stochastic optimal control/dynamic programming to derive an optimal debt in an environment where there are risks on both the asset...
Persistent link: https://www.econbiz.de/10010299829
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Consumer eWOM communication: The missing link between relational capital and sustainable bioeconomy in health care services
Gheorghe, Iuliana Raluca; Purcărea, Victor Lorin; … - In: Amfiteatru Economic Journal 20 (2018) 49, pp. 684-699
Today's world faces many challenges that may be solved by using the principles of bioeconomy. Bioeconomy has had a multi-disciplinary approach with the objective of an integrated scope, namely, to achieve sustainable development. In a knowledge-based economy, the link between sustainable...
Persistent link: https://www.econbiz.de/10012004581
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Managerial early warning system as best practice for project selection at a Smart factory
Bertoncel, Tine; Erenda, Ivan; Meško, Maja - In: Amfiteatru Economic Journal 20 (2018) 49, pp. 805-819
The purpose of the paper is to contribute to the development of best practices at emerging factories of the future, i.e. smart factories of Industry 4.0. Smart factories need to develop effective managerial early warning systems to identify and respond to subtle threats or opportunities, i.e....
Persistent link: https://www.econbiz.de/10012004588
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Risk attitudes and digit ratio (2D:4D): Evidence from prospect theory
Neyse, Levent; Vieider, Ferdinand M.; Ring, Patrick; … - In: Journal of Risk and Uncertainty (2020) 60, pp. 29-51
risk taking, yet results remain inconclusive. We suspect that this is due to difficulty in capturing risk preferences with … expected utility based tasks. Prospect theory, on the other hand, suggests that risk preferences differ between gains, losses …
Persistent link: https://www.econbiz.de/10012245082
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Making regulation fit by taking irrationality into account: the case of the whistleblower
Oelrich, Sebastian - In: Business Research 12 (2019) 1, pp. 175-207
Prospect theory describes people as bounded rational decision maker. What sparked widespread discussion after its initial introduction in 1979 is today criticized for lack of applicability. I use the debate about whistleblowing laws to show that prospect theory may be applied prescriptively in...
Persistent link: https://www.econbiz.de/10012502906
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Evolution, heritable risk and skewness loving
Heller, Yuval; Robson, Arthur John - In: Theoretical Economics 16 (2021) 2, pp. 403-424
Our understanding of risk preferences can be sharpened by considering their evolutionary basis. The existing literature …
Persistent link: https://www.econbiz.de/10013189056
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Keynes' Überlegungen zu unternehmerischem Handeln unter Unsicherheit
Hecker, Christian - In: Wirtschaftsdienst 101 (2021) 4, pp. 299-304
Aus Sicht von Keynes hängt das Erfolgspotenzial der Marktwirtschaft nicht nur von der staatlichen Wirtschaftspolitik ab, sondern ebenso vom Wirken vorausschauender Unternehmer:innen. Diese sollen sich seiner Meinung nach dadurch auszeichnen, dass sie trotz allgegenwärtiger Unsicherheit...
Persistent link: https://www.econbiz.de/10012606071