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This paper argues that any specific utility or disutility for gambling must be excluded from expected utility because such a theory is consequential while a pleasure or displeasure for gambling is a matter of process, not of consequences. A (dis)utility for gambling is modeled as a process...
Persistent link: https://www.econbiz.de/10005772534
Based on survey data for Switzerland, new empirical findings on direct democracy are presented. In the first part, we show that, on average, public employees receive lower financial compensation under more direct democratic institutions. However, top bureaucrats are more constrained in direct...
Persistent link: https://www.econbiz.de/10005627951
We test whether there is an omission effect in prosocial choices beyond the default effect. To isolate the omission …
Persistent link: https://www.econbiz.de/10011240434
The classical liberal character of economics emerged in the eighteenth century, notably with Adam Smith’s view that politics is prone to an under-appreciation the relative virtues of natural liberty. Smith centered political economy on the presumption of liberty. The Journal of Economic...
Persistent link: https://www.econbiz.de/10008484290
Effective teaching, while supplemented by best practice methods and assessments, is rooted in accurate, age-appropriate, and engaging content. As a foundation for history content, elementary educators rely strongly on textbooks and children’s literature, both fiction and non-fiction. While...
Persistent link: https://www.econbiz.de/10015027611
We test the hypothesis, based on popular and theoretical perspectives, that entrepreneurs are more action-oriented than … action-oriented than others. We theorize that this is driven by their lower levels of loss aversion and higher levels of … on curiosity and lower on loss aversion; (ii) the di fference in action-orientedness between entrepreneurs and others …
Persistent link: https://www.econbiz.de/10011586731
We test the hypothesis, based on popular and theoretical perspectives, that entrepreneurs are more action-oriented than … action-oriented than others. We theorize that this is driven by their lower levels of loss aversion and higher levels of … on curiosity and lower on loss aversion; (ii) the difference in action-orientedness between entrepreneurs and others …
Persistent link: https://www.econbiz.de/10011653226
In this paper, I study how mortgage refinancing influences the interest rate pass-through to household budgets via fixed-rate mortgage contracts in Denmark. I develop a model based on a state-dependent process of household actions that endogenously determines household refinancing decisions as a...
Persistent link: https://www.econbiz.de/10012659983
Persistent link: https://www.econbiz.de/10011420767
Persistent link: https://www.econbiz.de/10012872588