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We develop interpretable, quantitative indices of the objective and subjective complexity of lottery choice problems that can be computed for any standard dataset. These indices capture the predicted error rate in identifying the lottery with the highest expected value, where the predictions are...
Persistent link: https://www.econbiz.de/10014340230
While the significance of narrative thinking has been increasingly recognized by social scientists, very little empirical research has documented its consequences for economically significant outcomes. The current paper addresses this gap in one important domain: valuations. In three...
Persistent link: https://www.econbiz.de/10014384016
; we find that groups grant more autonomy to others than individuals. This finding is robust across two decision contexts …, one involving individual decision-making (Internality) and one involving social decision-making (Externality). Analyses of … individual and social contexts, and that transferring decision-making power to groups can lead to a “liberal shift”. …
Persistent link: https://www.econbiz.de/10015164673
actions. The resulting decisions may be less, rather than more, risky. Making a decision after acquiring information provides …
Persistent link: https://www.econbiz.de/10003937594
In this paper, I use difference-in-differences regressions to measure how the debt tax shield affects the capital structure of a company. By comparing the financial leverage of treatment and control companies before and after the introduction of an equity tax shield, I infer the impact of the...
Persistent link: https://www.econbiz.de/10009488958
Models of labor supply derived from stochastic utility representations and discretized sets of feasible hours of work have gained popularity because they are more practical than the standard approaches based on marginal calculus. In this paper we argue that practicality is not the only feature...
Persistent link: https://www.econbiz.de/10009488981
by 8 - 15% compared to only offering a pay-per-use contract. -- access services ; pricing contracts ; decision biases …
Persistent link: https://www.econbiz.de/10009489036
This paper examines a life-cycle cost concept that applies to both manufacturing and service industries in which upfront capacity investments are essential. Borrowing from the energy literature, we refer to this cost measure as the levelized product cost (LC). Per unit of output, the levelized...
Persistent link: https://www.econbiz.de/10010234531
directly measure religious organizations ́power to shape human decision making. We employ an objective measure of voters …
Persistent link: https://www.econbiz.de/10010223454
Socio-economic criteria for climate projects have been used in analysing the value of the climate benefit of a reduction in CO2. These reports are optimistic, yet CCS demonstration plants are not implemented as expected. Little attention has been devoted to profitability assessments based on...
Persistent link: https://www.econbiz.de/10010223461