Showing 1 - 10 of 1,178
In this paper, we apply the idea of $k$-local contraction of \cite{zec, zet} to study discounted stochastic dynamic programming models with unbounded returns. Our main results concern the existence of a unique solution to the Bellman equation and are applied to the theory of stochastic optimal...
Persistent link: https://www.econbiz.de/10015214179
The paper analyses the effects of the present-bias in terms of reduction of the welfare of future generations in the framework of renewable resources harvesting. In particular, this study queries the behavioral traits that emerge when the agent is present-biased and also in presence of...
Persistent link: https://www.econbiz.de/10015259148
This study adresses time-dependent orders that are shown to lead to recursive representations based upon a Max-Min dichotomy and introduce a structure that is naturally based upon time-varying multiple discounts. It is argued that this setup naturally provides an enriched understanding of the...
Persistent link: https://www.econbiz.de/10015264534
9-ending prices, which comprise between 40%–95% of retail prices, are popular because shoppers perceive them as being low. We study whether this belief is justified using scanner price-data with over 98-million observations from a large US grocery-chain. We find that 9-ending prices are higher...
Persistent link: https://www.econbiz.de/10015265435
The paper analyses the effects of present-biased preferences on the transfer of resources to future generations in the framework of renewable resources harvesting. The paper assumes that the current generation has other-regarding motivations for future generations, which are expressed through...
Persistent link: https://www.econbiz.de/10015265813
The paper analyzes the effects of present-biased preferences on the transfer of resources to future generations in the framework of renewable resource harvesting. The paper assumes that the current generation has other-regarding motivations for future generations, expressed through the adherence...
Persistent link: https://www.econbiz.de/10015266194
The role of a bank advisor is especially important for guiding and counseling financially distressed individuals. Using a randomized controlled survey experiment conducted on a representative sample of French individuals and priming the financial vulnerability of half the respondents, we examine...
Persistent link: https://www.econbiz.de/10015240333
Prior studies have found that subjects prefer an improving sequence of income over a constant sequence, even if the constant sequence offers a larger present discounted value. However, little is known about how these preferences vary with the size of the wage payments. In each of our three...
Persistent link: https://www.econbiz.de/10015222151
This paper presents the functional relationship between two areas of interest in contemporary behavioral economics: one concerning choices under conditions of risk, the other concerning choices in time. The paper first presents the general formula of the relationship between decision utility,...
Persistent link: https://www.econbiz.de/10015224782
Prior studies have found that subjects prefer an improving sequence of income over a constant sequence, even if the constant sequence offers a larger present discounted value. However, little is known about how these preferences vary with the size of the wage payments. In each of our three...
Persistent link: https://www.econbiz.de/10015226375