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Ex-ante fairness under constrained school choice : an experimental approach

Tong, Haoqi; Zhong, Xiaohan - In: China economic quarterly international : CEQI 2 (2022) 4, pp. 304-333

In a college admission mechanism, students are often matched with colleges by using a noisy signal of their true abilities (e.g., their exam scores). The matching outcome thus may be imperfect in terms of ex-ante fairness, which suggests matching students with higher ability to better colleges....

Persistent link: https://www.econbiz.de/10014226646

Intended College Attendance : Evidence from an Experiment on College Returns and Costs

Bleemer, Zachary - 2015

Despite a robust college premium, college attendance rates in the United States have remained stagnant and exhibit a substantial socioeconomic gradient. We focus on information gaps — specifically, incomplete information about college benefits and costs — as a potential explanation for these...

Persistent link: https://www.econbiz.de/10013014939

Insurance Contracts under Adverse Selection with Random Loss Severity

Fluet, Claude; Pannequin, François - Département des Sciences Économiques, École des … - 1995

Dans l'analyse des problèmes d'antisélection en assurance, on suppose généralement que la richesse des individus est une variable aléqtoire binaire, selon que l'individu subit ou non une perte. Ceci interdit d'analyser la forme du contrat d'assurance partielle destiné aux individus à...

Persistent link: https://www.econbiz.de/10005827202

Separating Moral Hazard from Adverse Selection and Learning in Automobile Insurance: Longitudinal Evidence from France

Dionne, Georges; Michaud, Pierre-Carl; Dahchour, Maki - Centre Interuniversitaire sur le Risque, les Politiques … - 2010

The identification of information problems in different markets is a challenging issue in the economic literature. In this paper, we study the identification of moral hazard from adverse selection and learning within the context of a multi-period dynamic model. We extend the model of Abbring et...

Persistent link: https://www.econbiz.de/10008646238

Using Gambling to Teach Insurance Principles

Pingle, Mark - Economics Department, University of Nevada-Reno; … - 2010

A basic understanding of insurance principles is useful for making personal finance decisions and for considering public policy issues. Yet, insurance concepts tend to be less intuitive, more difficult for students to grasp, than other concepts. This paper shows how fundamental insurance...

Persistent link: https://www.econbiz.de/10008671466

Signalling and Default: Rothschild-Stiglitz Reconsidered

Dubey, Pradeep; Geanakoplos, John - Cowles Foundation for Research in Economics, Yale University - 2001

In our previous paper we built a general equilibrium model of default and punishment in which equilibrium always exists and endogenously determines asset promises, penalties, and sales constraints. In this paper we interpret the endogenous sales constraints as equilibrium signals. By...

Persistent link: https://www.econbiz.de/10005463898

Default and Punishment in General Equilibrium

Dubey, Pradeep; Geanakoplos, John; Shubik, Martin - Cowles Foundation for Research in Economics, Yale University - 2001

We extend the standard model of general equilibrium with incomplete markets to allow for default and punishment by thinking of assets as pools. The equilibrating variables include expected delivery rates, along with the usual prices of assets and commodities. By reinterpreting the variables, our...

Persistent link: https://www.econbiz.de/10005463908

Default and Punishment in General Equilibrium

Dubey, Pradeep; Geanakoplos, John; Shubik, Martin - Cowles Foundation for Research in Economics, Yale University - 2001

We extend the standard model of general equilibrium with incomplete markets to allow for default and punishment. The equilibrating variables include expected delivery rates, along with the usual prices of assets and commodities. By reinterpreting the variables, our model encompasses a broad...

Persistent link: https://www.econbiz.de/10005087374

Pareto Optimal Allocations and Optimal Risk Sharing for Quasiconvex Risk Measures

Mastrogiacomo, Elisa - 2014

Pareto optimal allocations and optimal risk sharing for coherent or convex risk measures as well as for insurance prices have been studied widely in the literature. In particular, Pareto optimal allocations have been characterized by applying inf-convolution of risk measures and convex...

Persistent link: https://www.econbiz.de/10013060083

A Dual Characterisation of Regulatory Arbitrage for Coherent Risk Measures

Herdegen, Martin - 2020

portfolios exist. We call this situation regulatory arbitrage, and prove that it cannot be excluded – unless ρ is as conservative … measures, and give a necessary and sufficient characterization for regulatory arbitrage. We show that the presence or absence … of regulatory arbitrage for ρ is intimately linked to the interplay between the set of equivalent martingale measures …

Persistent link: https://www.econbiz.de/10012823360