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Poverty, vulnerability, and reference dependent utility
Günther, Isabel; Maier, Johannes - 2013
measures of multi-period poverty and vulnerability have until now not taken into account the insights from behavioural … economics. Building on reference dependent utility models we propose a new measure of both (perceived) multi-period poverty and … vulnerability, where the poverty status of an individual is not only a function of (expected) consumption levels but also of …
Persistent link: https://www.econbiz.de/10010343238
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Poverty, vulnerability, and reference dependent utility
G. nther, Isabel; Maier, Johannes - World Institute for Development Economic Research … - 2013
measurement of poverty when switching from a static and certain to a dynamic and uncertain framework. The numerous proposed …
Persistent link: https://www.econbiz.de/10010739471
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Poverty and welfare measurement on the basis of prospect theory
Jäntti, Markus; Kanbur, Ravi; Nyyssölä, Milla; … - 2012
This paper examines the measurement of social welfare, poverty and inequality taking into account features that have … standard concave utility function, as he or she actually is, evaluated with a reference-dependent utility function. We examine … the differences between standard poverty and inequality measures based on observed income and measures that are calculated …
Persistent link: https://www.econbiz.de/10010319772
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Sex hormones and choice under risk
Schipper, Burkhard - 2014
We study the correlation of choice under risk in Holt-Laury lotteries for gains and losses with gender, the use of hormonal contraceptives, menstrual cycle information, salivary testosterone, estradiol, progesterone, and cortisol as well as the digit ratio (2D:4D) in more than 200 subjects. In...
Persistent link: https://www.econbiz.de/10010255048
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Loss aversion, risk aversion, and the shape of the probability weighting function
Rablen, Matthew D. - 2023
Loss aversion, risk aversion, and the probability weighting function (PWF) are three central concepts in explaining decisionmaking under risk. I examine interlinkages between these concepts in a model of decisionmaking that allows for loss averse/tolerant stochastic reference dependence and...
Persistent link: https://www.econbiz.de/10014292798
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Does the Risk of Poverty Reduce Happiness?
Caria, Stefano A.; Falco, Paolo - Dipartimento di Economia, Management e Metodi … - 2014
Persistent link: https://www.econbiz.de/10010757654
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Separating attitudes towards money from attitudes towards probabilities : stake effects and ambiguity as a test for prospect theory
Vieider, Ferdinand M.; Cingl, Lubomír; Martinsson, Peter; … - 2013
probability transformations rather than utility transformations. In the second experiment, we examine the effects of an increase …
Persistent link: https://www.econbiz.de/10009792472
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Local status and prospect theory
Harbaugh, Rick; Kornienko, Tatiana - 2001
People are sometimes risk-averse in gains but risk-loving in losses. Such behavior and other anomalies underlying prospect theory arise from a model of local status maximization in which consumers compare their wealth with other consumers of similar wealth. This social explanation shares key...
Persistent link: https://www.econbiz.de/10011566619
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Prospect theory and asset allocation
Fortin, Ines; Hlouskova, Jaroslava - 2022
We study the asset allocation of an investor with prospect theory (PT) preferences. First, we solve analytically the two-asset problem of the PT investor for one risk-free and one risky asset and find that loss aversion and the reference return affect differently less ambitious investors and...
Persistent link: https://www.econbiz.de/10013259535
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Meta-analysis of empirical estimates of loss-aversion
Brown, Alexander L.; Imai, Taisuke; Vieider, Ferdinand M.; … - 2021
Loss aversion is one of the most widely used concepts in behavioral economics. We conduct a large-scale interdisciplinary meta-analysis, to systematically accumulate knowledge from numerous empirical estimates of the loss aversion coefficient reported during the past couple of decades. We...
Persistent link: https://www.econbiz.de/10012418622