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Do bad risks know it? Experimental evidence on optimism and adverse selection
Coelho, Marta; de Meza, David - London School of Economics (LSE) - 2012
against failing in the task and also less inclined to buy travel insurance. This suggests intrinsic optimism influences … insurance demand and diminishes adverse selection …
Persistent link: https://www.econbiz.de/10011128051
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An Economic Analysis of Exclusion Restrictions for Instrumental Variable Estimation
Berg, Gerard J. van den - Institute for the Study of Labor (IZA) - 2007
Instrumental variable estimation requires untestable exclusion restrictions. With policy effects on individual outcomes, there is typically a time interval between the moment the agent realizes that he may be exposed to the policy and the actual exposure or the announcement of the actual...
Persistent link: https://www.econbiz.de/10005763520
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An Economic Analysis of Exclusion Restrictions for Instrumental Variable Estimation
den Berg, Gerard J van - C.E.P.R. Discussion Papers - 2007
Instrumental variable estimation requires untestable exclusion restrictions. With policy effects on individual outcomes, there is typically a time interval between the moment the agent realizes that he may be exposed to the policy and the actual exposure or the announcement of the actual...
Persistent link: https://www.econbiz.de/10005792073
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The Effect of the Introduction of a »Pay Per Use« Option within motor TPL insurance.
Trappl, Stefan; Zehetner, Karl; Pichler, Robert - In: Journal of Banking and Financial Economics 1 (2014) 1, pp. 73-87
In this paper the effects of the introduction of the so called “pay per use” -insurance products are examined. These … insurance-premium paid. Since there is a positive correlation between mileage and the risk of causing an accident the refund is … characteristics of “pay per use” policy-holders and “traditional” policy- holders. Therefore a random sample of 4,000 car-insurance …
Persistent link: https://www.econbiz.de/10011099745
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The Effects of Beliefs versus Risk Preferences on Bargaining Outcomes
Dickinson, David L. - Department of Economics, Appalachian State University - 2005
-neutrality and pessimism (optimism). This paper reports data from a controlled bargaining experiment where risk preferences and … optimism dominate those of risk-aversion. Optimistic bargainers are significantly more likely to dispute and have aggressive … increased settlement rates are more likely achieved by minimizing impasse uncertainty (to limit the potential for optimism …
Persistent link: https://www.econbiz.de/10005093971
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Unrealistic Optimism about Exogenous Events: An Experimental Test
Muren, Astri - Nationalekonomiska institutionen, Stockholms Universitet - 2004
An experiment is designed to test if individuals show (unrealistic) optimism when determining their subjective …
Persistent link: https://www.econbiz.de/10005645453
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Wishful Thinking
Mayraz, Guy - Department of Economics, Faculty of Business and Economics - 2013
This paper presents a model and an experiment, both suggesting that wishful thinking is a pervasive phenomenon that aect decisions large and small. Agents in the model start out with state-dependent payos, and behave as if high-payo states are more likely. Subsequent choices maximize...
Persistent link: https://www.econbiz.de/10010903414
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Self-Deception : Adopting False Beliefs for a Favorable Self-View
Samad, Zeeshan - 2020
This paper explores how an individual can deceive herself in order to acquire a more favorable self-view. I present a theoretical model and a laboratory experiment in which each subject's donation to a charity gets transformed into an ambiguous lottery, i.e., a lottery where the winning...
Persistent link: https://www.econbiz.de/10012825635
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Does having insurance change individuals' self-confidence?
Guber, Raphael; Kocher, Martin; Winter, Joachim - 2018
case. We show that in an insurance context, being insured against losses that may be incurred in a real-effort task changes … subjects' self-confidence. Our novel experimental design allows us to disentangle selection into insurance from the effects of … uninsured subjects are underconfident while those that obtain insurance have well-calibrated beliefs. Our results suggest that …
Persistent link: https://www.econbiz.de/10011812974
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Does having insurance change individuals self-confidence?
Guber, Raphael; Kocher, Martin; Winter, Joachim - 2018
case. We show that in an insurance context, being insured against losses that may be incurred in a real-effort task changes … subjects' self-confidence. Our novel experimental design allows us to disentangle selection into insurance from the effects of … uninsured subjects are underconfident while those that obtain insurance have well-calibrated beliefs. Our results suggest that …
Persistent link: https://www.econbiz.de/10011899247