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Limited attention in case-based belief formations

Bleile, Jörg - 2014

An agent wants to derive her belief over outcomes based on past observations collected in her database (memory). There is well establish evidence in the psychology and marketing literature that agents consistently fail (or choose not) to process all available information. An agent might be...

Persistent link: https://www.econbiz.de/10010403098

Enjoyment takes time : some implications for choice theory

Nisticò, Sergio - 2015

The paper suggests that casting the choice problem in terms of alternative time-consuming activities can foster the fruitful cross-fertilization between economics and psychology along the lines suggested by Scitovsky in the Joyless Economy. The first part emphasizes how mainstream, utility-based...

Persistent link: https://www.econbiz.de/10010485641

Chapter 5. Insurance and Insurance Markets

Dionne, Georges; Harrington, Scott E. - In: Handbook of the economics of risk and uncertainty : volume 1, (pp. 203-261). 2014

contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the … beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical … insurance literature and summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and …

Persistent link: https://www.econbiz.de/10014025527

Unemployment risks and intra-household insurance

Fernández-Blanco, Javier - In: Journal of economic theory 203 (2022), pp. 1-34

Persistent link: https://www.econbiz.de/10013374955

Optimal prevention for correlated risks

Courbage, Christophe; Loubergé, Henri; Peter, Richard - 2013

reduction (self-protection) so that correlation becomes endogenous. If prevention concerns only one risk, introducing a second … exogenous risk increases the level of prevention expenditures, even if correlation is negative. If prevention expenditures may … increased dependence increases aggregate prevention expenditures, but not necessarily prevention expenditures for each risk due …

Persistent link: https://www.econbiz.de/10010256952

Uncertain product availability in search markets

Atayev, Atabek - In: Journal of economic theory 204 (2022), pp. 1-38

Persistent link: https://www.econbiz.de/10013473622

Framing and insurance choices

Burkovskaya, Anastasia; Teperski, Adam; Atalay, Kadir - In: The journal of risk & insurance 89 (2022) 2, pp. 311-337

Persistent link: https://www.econbiz.de/10013191411

Uncertain demand, consumer loss aversion, and flat-rate tariffs

Herweg, Fabian; Mierendorff, Konrad - 2011

We consider a model of firm pricing and consumer choice, where consumers are loss averse and uncertain about their future demand. Possibly, consumers in our model prefer a flat rate to a measured tariff, even though this choice does not minimize their expected billing amount - a behavior in line...

Persistent link: https://www.econbiz.de/10009739169

The two faces of independence : betweenness and homotheticity

Burghart, Daniel R.; Epper, Thomas; Fehr, Ernst - 2014

Many studies document failures of expected utility’s key assumption, the independence axiom. Here, we show that independence can be decomposed into two distinct axioms - betweenness and homotheticity - and that these two axioms are necessary and sufficient for independence. Thus, independence...

Persistent link: https://www.econbiz.de/10010430733

Perceptions of corporate cyber risks and insurance decision-making

Smidt, Guido de; Botzen, W. J. Wouter - In: The Geneva papers on risk and insurance - issues and … 43 (2018) 2, pp. 239-274

Persistent link: https://www.econbiz.de/10012256042