Does death teach us wisdom or defy the power of reason? Our paper aims to explore this fundamental question by examining investors’ decision framing in their account-level trading on the National Stock Exchange of India during the early pandemic period. We find that the first reported local...

Climate change is a “crisis multiplier” that has profound effects on various aspects of household decisions. We study the impact of climate change concern on household’s climate-risk-based investment decisions using administrative account-level data of all retail investors from the...

We develop and implement a Bayesian Semi-parametric model of demand under inter-product competition that enables us to assess the respective contributions of branding hierarchy and inter-product similarity to explaining and predicting demand. To incorporate branding hierarchy effects, we use...

We provide a theoretical justification for the widely used and yet only empirically verified approach of using Asymmetric Laplace Density(ALD) in Bayesian Quantile Regression. We derive sufficient conditions for posterior consistency of the quantile regression parameters even if the true...

Simultaneously modeling multiple quantiles by possibly incorporating constraints across quantiles, in particular that of monotonicity, has been an important problem. While recent attempts to address this problem focus mostly on the monotonicity issue, we take a different route using a Bayesian...

We propose a joint model to combine models for hospital visits and out-of-pocket medical expenditures. It allows for the presence of non-linear effects of covariates using splines to capture the effects of aging on healthcare demand. Sample heterogeneity is modeled robustly with the random...

This article examines the average cost function for property and casualty insurers. Cost function describes the relationship between a firm’s minimum production cost and outputs. The comparison of cost functions could shed light on the relative cost efficiency of individual firms, which is of...

We estimate the cost of cultural biases in high-stake economic decisions by comparing agents' peer-to-peer lending choices with those the same agents make under the assistance of an automated robo-advisor. We first confirm substantial in-group vs. out-group and stereotypical discrimination,...