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Essays in Behavioral and Experimental Economics

Dürsch, Peter - 2010

Chapter IWe use a large-scale internet experiment to explore how subjects learn to play against computers that are … experiment, we separate the demand for punishment in general from a possible demand to conduct punishment personally. Subjects …? In our experiment we observe that the subjects almost never use punishment. Consistently, the data shows no increase in …

Persistent link: https://www.econbiz.de/10009476200

Four Essays on Debt Securitization and Entrepreneurial Finance

Weber, Thomas - 2008

Chapter 1 is joint work with Günter Franke, University of Konstanz, and Markus Herrmann, HSBC London, and addresses the question how collateralized debt obligation (CDO-) transactions are designed. An important issue is the information asymmetry about the quality of securitized debt between...

Persistent link: https://www.econbiz.de/10009471846

Risk Aversion in Inventory Management

Chen, Xin; Sim, Melvyn; Simchi-Levi, David; Sun, Peng - 2004

Traditional inventory models focus on risk-neutral decision makers, i.e., characterizing replenishment strategies that maximize expected total profit, or equivalently, minimize expected total cost over a planning horizon. In this paper, we propose a framework for incorporating risk aversion in...

Persistent link: https://www.econbiz.de/10009432599

The Role of Exchange Rates in the Intertemporal Risk-Return Relation in International Economies

Bali, Turan G.; Wu, Liuren - 2005

This paper investigates the role of currency denomination in the the intertemporal risk-return relation among G7 countries. Similar to the findings of previous studies, our estimation also shows that the financial markets of the G7 countries are integrated. We obtain significant pricing...

Persistent link: https://www.econbiz.de/10009440704

Utility Indifference Pricing of Credit Instruments

Sigloch, Georg - 2009

While the market for credit instruments grew continuously in the decade before 2008, its liquidity has dried up significantly in the current crisis, and investors have become aware of the possible consequences of being exposed to credit risk. In this thesis we address these issues by pricing...

Persistent link: https://www.econbiz.de/10009455297

Essays on Risk Aversion, Diversification and Non-Participation

Hibbert, Ann Marie - 2008

My dissertation consists of three essays. The central theme of these essays is the psychological factors and biases that affect the portfolio allocation decision. The first essay entitled, “Are women more risk-averse than men?” examines the gender difference in risk aversion as revealed by...

Persistent link: https://www.econbiz.de/10009460481

Essays on risk aversion

Neilson, William S. (contributor) - 2006

This dissertation contains three essays on risk aversion. In the first essay, we an-alyze comparative risk aversion in a new way, through a comparative statics problemin which, for a cost, agents can shift from an initial probability distribution towarda preferred distribution. The Ross...

Persistent link: https://www.econbiz.de/10009464852

Three essays in labor economics: fertility expectations and career choice, specialization and the marriage premium, and estimating risk aversion using labor supply data

Ureta, Manuelita (contributor) - 2007

Women, on average, are found in systematically different careers than men. Thereason for this phenomenon is not fully understood, in part because expectations playa vital role in the process of career choice. Different religious groups have differentbeliefs on the importance of child bearing, so...

Persistent link: https://www.econbiz.de/10009465191

Testing Monotonicity of Pricing Kernels

Timofeev, Roman - 2007

In this master thesis a mechanism to test mononicity of empirical pricing kernels (EPK) is presented. By testing monotonicity of pricing kernel we can determine whether utility function is concave or not. Strictly decreasing pricing kernel corresponds to concave utility function while...

Persistent link: https://www.econbiz.de/10009467000

Risk Aversion and Compliance in Markets for Pollution Control

Stranlund, John K. - 2006

This paper examines the effects of risk aversion on compliance choices in markets for pollution control. A firm’s decision to be compliant or not is independent of its manager’s risk preference. However, noncompliant firms with risk averse managers will have lower violations than otherwise...

Persistent link: https://www.econbiz.de/10009467790