Results 21 to 30 of about 81,250 (48)
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Sequential Learning under Informational Ambiguity
The American Economic ReviewThis paper investigates a sequential social learning problem in which individuals face ambiguity about others’ signal structures and have max-min expected utility preferences, thereby exhibiting ambiguity aversion. Unlike previous findings, which suggest
J. Chen
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Posterior Separable Cost of Information
The American Economic Review, 2022We provide testable conditions under which the cost of acquiring information is given by the expected reduction of a measure of uncertainty (e.g., entropy).
Tommaso Denti
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Decisions under Risk Are Decisions under Complexity
The American Economic ReviewWe provide evidence that classic lottery anomalies like probability weighting and loss aversion are not special phenomena of risk. They also arise (and often with equal strength) when subjects evaluate deterministic, positive monetary payments that have ...
Ryan Oprea
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Optimal Security Design for Risk-Averse Investors
The American Economic ReviewWe use the tools of mechanism design combined with the theory of risk measures to analyze how a cash-constrained owner of an asset with known, stochastic returns raises capital from a population of investors who differ in their risk aversion and budget ...
Alex Gershkov +3 more
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Hedging When Applying: Simultaneous Search with Correlation
The American Economic ReviewApplicants to schools, colleges, and jobs hedge by applying to a broad range of options, including reaches, matches, and safeties. We develop a simultaneous-search framework that rationalizes this practice.
S. N. Ali, Ran I. Shorrer
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Linking Social and Personal Preferences: Theory and Experiment
Journal of Political EconomyThe goal of this paper is to link attitude toward risk over personal consumption with attitude toward risk over social consumptions. Because many everyday choices involve risk, these attitudes enter virtually every realm of individual decision-making. We
W. Zame +4 more
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Energy Journal
This paper begins with an investigation on the relation between airline fuel hedging and volatility and builds on this idea to consider its effect on the risk and return relationship.
Jason P. Berkowitz +2 more
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This paper begins with an investigation on the relation between airline fuel hedging and volatility and builds on this idea to consider its effect on the risk and return relationship.
Jason P. Berkowitz +2 more
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Risk Preferences and Field Behavior: The Relevance of Higher-Order Risk Preferences
The American Economic ReviewUsing new methods, we measure the intensities of higher-order risk preferences (prudence and temperance) in an incentivized experiment with 658 adolescents.
Sebastian O. Schneider, Matthias Sutter
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Uncertainty and the Economy: The Evolving Distributions of Aggregate Supply and Demand Shocks
Social Science Research NetworkWe estimate the time-varying distribution of aggregate supply (AS) and aggregate demand (AD) shocks. We distinguish between traditional Gaussian uncertainty and “bad” uncertainty, associated with negative skewness.
G. Bekaert +2 more
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Distinguishing Common Ratio Preferences from Common Ratio Effects Using Paired Valuation Tasks
The American Economic ReviewWithout strong assumptions about how noise manifests in choices, we can infer little from existing empirical observations of the common ratio effect (CRE) about whether there exists an underlying common ratio preference (CRP).
Christina McGranaghan +4 more
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