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Aspiration Levels and Educational Choices : An experimental study

Page, Lionel; Lévy-Garboua, Louis; Montmarquette, Claude - HAL - 2007

The explanation of social inequalities in education is still a debated issue in economics. Recent empirical studies tend to downplay the potential role of credit constraint. This article tests a different potential explanation of social inequalities in education, specifically that social...

Persistent link: https://www.econbiz.de/10010750819

From welfare to preferences, do decision flaws matter? The case of tuition fees

Lecouteux, Guilhem; Moulin, Léonard - HAL - 2013

We investigate the relation between welfare and preference satisfaction in economics, and show that the extension of the scope of economic analysis through the 20th century forces economists to question the validity of the preference satisfaction criterion as a normative criterion for evaluating...

Persistent link: https://www.econbiz.de/10010633780

Solving the Yitzhaki Paradox: Income Tax Evasion and Reference Dependence under Prospect Theory

Trotin, Gwenola - HAL - 2012

is increasing in the tax rate as soon as a suitable relative risk aversion measure is larger with auditing, than without …

Persistent link: https://www.econbiz.de/10010933897

Prospect Theory and consumer behavior: Goals and Tradeoffs

Buisson, Florent - HAL - 2013

I show that a loss averse consumer who must share her budget between two goods prefer allocations for which consumption equals reference point for at least one good. The phenomenon intensity depends on the curvature of the utility curve. These results are consistent with several stylized facts...

Persistent link: https://www.econbiz.de/10011026068

Loss Aversion and Seller Behavior: Evidence from the Housing Market: Comment Working Paper

Buisson, Florent - HAL - 2013

In an often quoted article, Genesove and Mayer (2001) observe that house sellers are reluctant to sell at a loss, and attribute this finding to loss aversion. I show that loss aversion cannot explain this phenomenon.

Persistent link: https://www.econbiz.de/10010635268

The Impact of Systemic Risk on the Diversification Benefits of a Risk Portfolio

Busse, Marc; Dacorogna, Michel; Kratz, Marie - HAL - 2013

Risk diversification is the basis of insurance and investment. It is thus crucial to study the effects that could limit … it. One of them is the existence of systemic risk that affects all the policies at the same time. We introduce here a … probabilistic approach to examine the consequences of its presence on the risk loading of the premium of a portfolio of insurance …

Persistent link: https://www.econbiz.de/10010899196

Valuing life: experimental evidence using sensitivity to rare events

Chanel, Olivier; Chichilnisky, Graciela - HAL - 2011

Global environmental phenomena like climate change, major extinction events or flutype pandemics can have catastrophic consequences. By properly assessing the outcomes involved - especially those concerning human life - economic theory of choice under uncertainty is expected to help people take...

Persistent link: https://www.econbiz.de/10009645480

Risk Perception, Risk Attitude and Decision : a Rank-Dependent Approach

Cohen, Michèle - HAL - 2008

The classical expected utility model of decision under risk (von Neumann-Morgenstern, 1944) has been criticized from an … could dislike risk (prefer to any lottery its expectation) without necessarily avoiding any increase in risk ; diminishing … marginal utility may coexists with "weak" risk seeking attitudes ; decision makers with the same utility function may differ in …

Persistent link: https://www.econbiz.de/10010738473

The Attitude Toward Probabilities of Portfolio Managers : an Experimental Study

Roux, Nicolas - HAL - 2008

This paper proposes an experiment about the attitude toward probabilities on a population of portfolio managers. Its aim is to check whether or not portfolio managers are neutral toward probabilities. Meanwhile, it presents a experimental protocole that highlights an inconsistency between two...

Persistent link: https://www.econbiz.de/10010738619

Is Libertarian Paternalism an Oxymoron?

Salvat, Christophe - HAL - 2008

In this article I have attempted to discuss two points brought up by Sunstein and Thaler's new perspective on paternalism. The first is that whatever individuals do, they have to take second rank decisions, i.e. decisions that are equally attractive for them but impact others' people welfare....

Persistent link: https://www.econbiz.de/10008793746