Results 111 to 120 of about 25,835 (262)

Adaptive intertemporal preferences in foraging-style environments

Frontiers in Neuroscience, 2013
Decision makers often face choices between smaller more immediate rewards and larger more delayed rewards. For example, when foraging for food, animals must choose between actions that have varying costs (e.g., effort, duration, energy expenditure) and ...
Michael T. Bixter, Christian C Luhmann
doaj   +1 more source

Evolution as Learning Yields Hyperbolic Discounting [PDF]

Learning is modeled as an infection, which jumps from person to person. The rate of infection mimics individual discount rates and induces savings behavior on its own.
James Woods
core  

Exponential Discounting under Partial Efficiency

This paper derives a novel representation of the exponential discounting model that allows one to assess departures from the model via a measure of efficiency. The approach uses a revealed preference methodology that does not make any parametric assumption on the utility function and allows for unrestricted heterogeneity.
openaire   +2 more sources

Power priors for latent variable mediation models under small sample sizes

British Journal of Mathematical and Statistical Psychology, EarlyView.
Abstract Latent variable models typically require large sample sizes for acceptable efficiency and reliable convergence. Appropriate informative priors are often required for gainfully employing Bayesian analysis with small samples. Power priors are informative priors built on historical data, weighted to account for non‐exchangeability with the ...
Lihan Chen, Milica Miočević, Carl F. Falk   +2 more
wiley   +1 more source

Multiple solutions under quasi-exponential discounting [PDF]

We consider a group or committee that faces a binary decision under uncertainty. Each member holds some private information. Members agree which decision should be taken in each state of nature, had this been known, but they may attach different values ...
Jörgen Weibull, Nicolas Vieille
core  

Frisch Elasticity, Directed Technical Change, and Automation: A Unified Framework for Wage Polarization and Skill Premium Dynamics

Bulletin of Economic Research, EarlyView.
ABSTRACT This paper examines how labor‐supply responsiveness, captured by the inverse Frisch elasticity, shapes wage inequality in the presence of directed technical change and automation. We develop a dynamic general equilibrium model with task‐based production, heterogeneous labor, and endogenous R&D.
Óscar Afonso
wiley   +1 more source

Should more teams “trust the process” of tanking?

Contemporary Economic Policy, EarlyView.
Abstract In many professional sport leagues, the worst‐performing teams receive higher probability of earning top draft picks. This provides teams incentives to purposefully lose, or “tank,” if they are not likely to contend for the playoffs or championships.
Eduardo G. Minuci, Alexander Cardazzi, Candon Johnson   +2 more
wiley   +1 more source

Public investment multipliers revisited: the role of production complementarities

Economica, EarlyView.
Abstract This paper revisits the issue of the public investment multiplier through the lens of complementarity or substitutability between private inputs and public infrastructure capital. Our main result is that public investment multipliers are much larger than in the literature when private inputs and public capital are good complements relative to ...
Vasiliki Dimakopoulou, George Economides, Apostolis Philippopoulos   +2 more
wiley   +1 more source

A series of (un)fortunate events: Commercial bank interest rates and deposit reallocation during the Great Depression in the Netherlands

The Economic History Review, EarlyView.
Abstract During the global economic crisis of 1929–33, deposits in the Dutch commercial banking sector sharply declined as funds shifted to the government‐guaranteed Post Office Savings Bank and other savings institutions. Unlike earlier studies for neighbouring countries, we demonstrate that this shift was driven less by a flight to safety and more by
Ruben Peeters, Amaury de Vicq de Cumptich   +1 more
wiley   +1 more source

Collective Investment Decision Making with Heterogeneous Time Preferences [PDF]

We examine the investment decision problem of a group whose members have heterogeneous time preferences. In particular, they have different discount factors for utility, possibly not exponential. We characterize the properties of efficient allocations of
Christian Gollier, Richard Zeckhauser
core   +3 more sources