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Economic preferences and obesity: evidence from a clinical lab-in-field experiment

Pastore, Chiara; Schurer, Stefanie; Tymula, Agnieszka; … - 2020

averse, show no evidence of present bias, and have impatience levels comparable to healthy samples described in the … international literature. Variations in present bias and impatience are not significantly associated with variations in markers of … circumference. Impatience moderates the link between risk tolerance and obesity. We replicate the key finding of interaction effects …

Persistent link: https://www.econbiz.de/10012322306

The dynamics of heterogeneity and asset prices

Farkas, Walter; Necula, Ciprian - 2017 - This version: 25 April 2017

impact on asset prices. The agents in the economy differ with respect to impatience, risk aversion, beliefs about the growth …

Persistent link: https://www.econbiz.de/10011875753

On the evolutionary stability of the sentiment investor

Antico, Andrea; Bottazzi, Giulio; Giachini, Daniele - 2022

The behavioural finance literature attributes the persistent market misvaluation observed in real data to the presence of deviations from rational thinking of the actors involved. Cognitive biases and the use of simple heuristics can be described using expected utility maximising agents that...

Persistent link: https://www.econbiz.de/10013161531

Preferences over time and under uncertainty : theoretical foundations

Al-Nowaihi, Ali; Dhami, Sanjit S. - 2021

individually determine stationarity, the common difference effect and its converse; constant, decreasing and increasing impatience …

Persistent link: https://www.econbiz.de/10012599133

Endogenous completeness of diffusion driven equilibrium markets

Hugonnier, Julien; Malamud, Semyon; Trubowitz, Eugene - 2009

We study the existence of equilibria with endogenously complete markets in a continuous-time, heterogenous agents economy driven by a multidimensional diffusion process. Our main results show that if prices are real analytic as functions of time and the state variables of the model then a...

Persistent link: https://www.econbiz.de/10003971255

Rational asset pricing bubbles and portfolio constraints

Hugonnier, Julien - 2010

This article shows that the presence of portfolio constraints can give rise to rational asset pricing bubbles in equilibrium even if there are unconstrained agents in the economy who can bene t from the corresponding limited arbitrage opportunities. Furthermore, it is shown that when they are...

Persistent link: https://www.econbiz.de/10003966068

International capital markets with time-varying preferences

Curatola, Giuliano; Dergunov, Ilya - 2017

We propose a 2-country asset-pricing model where agents' preferences change endogenously as a function of the popularity of internationally traded goods. We determine the effect of the time-variation of preferences on equity markets, consumption and portfolio choices. When agents are more...

Persistent link: https://www.econbiz.de/10011698927

Asset Pricing with “Buy Now, Pay Later”

Malamud, Semyon; Wang, Neng; Zhang, Yuan - 2022

“Buy Now, Pay Later” (BNPL) and other forms of consumer credit create a wedge between consumption and payments. We introduce this wedge into a standard consumption-based asset pricing model (CCAPM). In equilibrium, the pricing kernel equals the marginal utility of consumption divided by the...

Persistent link: https://www.econbiz.de/10014236310

Intertemporal equilibria with knightian uncertainty

Dana, Rose-Anne; Riedel, Frank - 2010

We study a dynamic and infinite-dimensional model with Knightian uncertainty modeled by incomplete multiple prior preferences. In interior efficient allocations, agents share a common risk-adjusted prior and use the same subjective interest rate. Interior efficient allocations and equilibria...

Persistent link: https://www.econbiz.de/10008736535

Price pressures

Hendershott, Terrence; Menkveld, Albert J. - 2010

We study price pressures in stock prices-price deviations from fundamental value due to a risk-averse intermediary supplying liquidity to asynchronously arriving investors. Empirically, twelve years of daily New York Stock Exchange intermediary data reveal economically large price pressures. A...

Persistent link: https://www.econbiz.de/10003980637

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