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Optimistic, but not in control: Life-orientation and the theory of mixed control
Urbig, Diemo; Monsen, Erik - 2009
Why are some people more optimistic about their life than others? Literature on locus of control suggests that optimism is associated with the belief that one's life outcomes are controlled by internal factors, such as ability, instead of external factors, such as powerful others or chance....
Persistent link: https://www.econbiz.de/10010266644
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Do students expect compensation for wage risk?
Schweri, Juerg; Hartog, Joop; Wolter, Stefan C. - 2009
We use a unique data set about the wage distribution that Swiss students expect for themselves ex ante, deriving parametric and non-parametric measures to capture expected wage risk. These wage risk measures are unfettered by heterogeneity which handicapped the use of actual market wage...
Persistent link: https://www.econbiz.de/10010276690
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How do college students form expectations?
Zafir, Basit - 2009
Because students rely on their subjective expectations when choosing a college major, understanding this process of … expectations formation is crucial for education policy recommendations. This paper focuses on how college students form … expectations about various major-specific outcomes. I collect a unique panel data set of Northwestern University undergraduates …
Persistent link: https://www.econbiz.de/10010283522
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Can subjective expectations data be used in choice models? Evidence on cognitive biases
Zafar, Basit - 2010
their subjective expectations about outcomes specific to different majors in their choice set. I do not find evidence of … suggests that students have well-formed expectations. Overall, the results paint a favorable picture for the use of subjective … expectations data in choice models. …
Persistent link: https://www.econbiz.de/10010287095
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The Role of Endogenous Uncertainty in the Forward Discount Bias
Black, Stanley Wilkes - In: Rivista Internazionale di Scienze Sociali 115 (2007) 3, pp. 327-364
This study examines what role the concept of endogenous uncertainty can have in explaining a phenomenon of international financial markets, the forward discount bias. The forward discount bias puzzle is unexplained by models assuming economic agents have full knowledge of the structure of the...
Persistent link: https://www.econbiz.de/10010878167
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Adaptive Interactive Profit Expectations and Small World Networks
Bell, William Paul - Volkswirtschaftliche Fakultät, … - 2008
The aim of this paper is to simulate profit expectations as an emergent property using an agent based model. The paper … builds upon adaptive expectations, interactive expectations and small world networks, combining them into a single adaptive … interactive profit expectations model (AIE). Understanding the diffusion of interactive expectations is aided by using a network …
Persistent link: https://www.econbiz.de/10011259382
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Adaptive interactive profit expectations using small world networks and runtime weighted model averaging
Bell, William Paul - Volkswirtschaftliche Fakultät, … - 2008
The aim of this paper is to simulate profit expectations as an emergent property using an agent based model. The paper … builds upon adaptive expectations, interactive expectations and small world networks, combining them into a single adaptive … interactive profit expectations model (AIE). Understanding the diffusion of interactive expectations is aided by using a network …
Persistent link: https://www.econbiz.de/10011260058
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rational inattention
Wiederholt, Mirko - Palgrave Macmillan
Economists have studied for a long time how decision-makers allocate scarce resources. The recent literature on rational inattention studies how decision-makers allocate the scarce resource attention. The idea is that decision-makers have a limited amount of attention and have to decide how to...
Persistent link: https://www.econbiz.de/10009395648
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Do Students Expect Compensation for Wage Risk?
Schweri, Jürg; Hartog, Joop; Wolter, Stefan - Institute for the Study of Labor (IZA) - 2009
We use a unique data set about the wage distribution that Swiss students expect for themselves ex ante, deriving parametric and non-parametric measures to capture expected wage risk. These wage risk measures are unfettered by heterogeneity which handicapped the use of actual market wage...
Persistent link: https://www.econbiz.de/10005822469
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ONCE BITTEN, TWICE SHY: EXPERIENCES OF A BANKING CRISIS AND EXPECTATIONS OF FUTURE CRISES
Mudd, Shannon; Valev, Neven - William Davidson Institute, University of Michigan - 2009
experiences affect expectations only for less informed individuals. Individuals who are more informed about the economy are …
Persistent link: https://www.econbiz.de/10008529023