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The Ambiguity Triangle : Uncovering Fundamental Patterns of Behavior Under Uncertainty
Burghart, Daniel - 2015
risk preferences. Here, we develop an analogous tool for choice under uncertainty – the ambiguity triangle – and show that … characterize this heterogeneity with finite-mixture estimates of a one-parameter extension of Expected Utility Theory wherein 48 …
Persistent link: https://www.econbiz.de/10013016343
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Dynamic Incentive Contracts Under Parameter Uncertainty
Prat, Julien - 2010
We analyze a long-term contracting problem involving common uncertainty about a parameter capturing the productivity of the relationship, and featuring a hidden action for the agent. We develop an approach that works for any utility function when the parameter and noise are normally distributed...
Persistent link: https://www.econbiz.de/10013135822
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The "Bomb" Risk Elicitation Task
Crosetto, Paolo - 2012
This paper presents the Bomb Risk Elicitation Task (BRET), an intuitive procedure aimed at measuring risk attitudes … truncation of the data, allows to precisely estimate both risk aversion and risk seeking, and is not affected by the degree of … gap that often characterizes choices under uncertainty by means of a higher loss rather than risk aversion …
Persistent link: https://www.econbiz.de/10013103490
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Investment and Subjective Uncertainty
Bloom, Nicholas; Davis, Steven J.; Foster, Lucia; … - 2022
A longstanding challenge in evaluating the impact of uncertainty on investment is obtaining measures of managers' subjective uncertainty. We address this challenge by using a detailed new survey measure of subjective uncertainty collected by the U.S. Census Bureau for approximately 25,000...
Persistent link: https://www.econbiz.de/10014240723
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How Uncertainty and Ambiguity in Tournaments Affect Gender Differences in Competitive Behavior
Balafoutas, Loukas - 2019
Tournament incentives prevail in labor markets. Yet, the number of tournament winners is often unclear to competitors. While it is hard to measure how this uncertainty affects work performance and willingness to compete in the field, it can be studied in a controlled lab experiment. We present a...
Persistent link: https://www.econbiz.de/10012868836
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The Effect of Macroeconomic Uncertainty on Firm Decisions
Kumar, Saten; Gorodnichenko, Yuriy; Coibion, Olivier - 2022
Using a new survey of firms in New Zealand, we document how exogenous variation in the macroeconomic uncertainty perceived by firms affects their economic decisions. We use randomized information treatments that provide different types of information about the first and/or second moments of...
Persistent link: https://www.econbiz.de/10013403719
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Pandemic-Era Uncertainty
Meyer, Brent; Mihaylov, Emil; Barrero, Jose Maria; … - 2022
national security as of March 2022. Fourth, firm-level risk perceptions skewed heavily to the downside in spring 2020 but …
Persistent link: https://www.econbiz.de/10013406440
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Identification, Screening and Stereotyping in Labour Market Discrimination
Vendrik, Maarten C. - 2009
According to social-psychological research, feelings of uncertainty in decision-making evoke two opposite responses: (i) reduction of uncertainty by information search, leading to less stereotyping of people, and hence less discrimination; (ii) social identification with an ingroup, inducing...
Persistent link: https://www.econbiz.de/10013153510
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The Distribution of Ambiguity Attitudes
Gaudecker, Hans-Martin von; Wogrolly, Axel; Zimpelmann, … - 2022
This paper analyzes the stability and distribution of ambiguity attitudes using a broad population sample. Using high-powered incentives, we collected six waves of data on ambiguity attitudes about financial markets – our main application – and climate change. Estimating a structural...
Persistent link: https://www.econbiz.de/10014236203
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Why Pay Taxes When No One Else Does?
Epstein, Gil S. - 2009
present a model which incorporates elements from the theory of information cascades with the standard model of tax evasion and …
Persistent link: https://www.econbiz.de/10013159940