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Sturm, Jan-Egbert - 2000

We argue that in modelling cross-country growth models one should first identify so-called outlying observations. For the data set of Sala-i-Martin, we use the least median of squares (LMS) estimator to identify outliers. As LMS is not suited for inference, we then use reweighted least squares...

Persistent link: https://www.econbiz.de/10009781564

Changes in risk and the demand for saving

Eeckhoudt, Louis (contributor); … - 2008

How does risk affect saving? Empirical work typically examines the effects of detectible differences in risk within the data. How these differences affect saving in theoretical models depends on the metric one uses for risk. For labor-income risk, second-degree increases in risk require prudence...

Persistent link: https://www.econbiz.de/10003749674

Uncertainty, skewness, and the business cycle through the midas lens

Castelnuovo, Efrem; Mori, Lorenzo - 2022

uncertainty and skewness. Embedding these measures in a VAR framework, we show that unexpected changes in uncertainty are … consider a quarterly-only quantile regression model. A counterfactual simulation conducted by shutting down the endogenous … response of skewness to uncertainty shocks shows that skewness substantially amplifies the recessionary effects of uncertainty. …

Persistent link: https://www.econbiz.de/10013440379

Echoes of instability : how geopolitical risks shape government debt holdings

Afonso, António; Alves, José; Monteiro, Sofia - 2024

Recognizing the profound influence of geopolitical risks and world uncertainty on financial investment behaviour, this …

Persistent link: https://www.econbiz.de/10014632361

Sense and sensitivity : an argument against reporting multiple net present values

Nesje, Frikk; Drupp, Moritz A.; Freeman, Mark; Groom, … - 2024 - Version date: December 5, 2024

We critically assess an almost universal Benefit-Cost Analysis (BCA) practice. In addition to the central Net Present Value (NPV), analysts frequently also report multiple additional values in what is commonly referred to as ‘NPV sensitivity analysis’. This practice is generally justified...

Persistent link: https://www.econbiz.de/10015158088

Looming large or seeming small? : attitudes towards losses in a representative sample

Chapman, Jonathan; Snowberg, Erik; Wang, Stephanie; … - 2022

We measure individual-level loss aversion using three incentivized, representative surveys of the U.S. population (combined N = 3,000). We find that around 50% of the U.S. population is loss tolerant, with many participants accepting negative-expected-value gambles. This is counter to earlier...

Persistent link: https://www.econbiz.de/10013284901

Combining "real effort" with induced effort costs : the ball-catching task

Gächter, Simon; Huang, Lingbo; Sefton, Martin - 2015

We introduce the "ball-catching task", a novel computerized real effort task, which combines "real" efforts with induced material cost of effort. The central feature of the ball-catching task is that it allows researchers to manipulate the cost of effort function as well as the production...

Persistent link: https://www.econbiz.de/10010518803

Risky choices and solidarity : why experimental design matters

Wunsch, Conny; Strobl, Renate - 2018

Negative income shocks can either be the consequence of risky choices or random events. A growing literature analyzes the role of responsibility for neediness for informal financial support of individuals facing negative income shocks based on randomized experiments. In this paper, we show that...

Persistent link: https://www.econbiz.de/10011867206

Measuring and bounding experimenter demand

De Quidt, Jonathan; Haushofer, Johannes; Roth, Christopher - 2017 - This version: May 31, 2017

We propose a technique for assessing robustness of behavioral measures and treatment effects to experimenter demand effects. The premise is that by deliberately inducing demand in a structured way we can measure its influence and construct plausible bounds on demand-free behavior. We provide...

Persistent link: https://www.econbiz.de/10011663543

Adaptive treatment assignment in experiments for policy choice

Kasy, Maximilian; Sautmann, Anja - 2019

The goal of many experiments is to inform the choice between different policies. However, standard experimental designs are geared toward point estimation and hypothesis testing. We consider the problem of treatment assignment in an experiment with several non-overlapping waves, where the goal...

Persistent link: https://www.econbiz.de/10012050770