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Economic preferences and obesity: evidence from a clinical lab-in-field experiment
Pastore, Chiara; Schurer, Stefanie; Tymula, Agnieszka; … - 2020
averse, show no evidence of present bias, and have impatience levels comparable to healthy samples described in the … international literature. Variations in present bias and impatience are not significantly associated with variations in markers of … circumference. Impatience moderates the link between risk tolerance and obesity. We replicate the key finding of interaction effects …
Persistent link: https://www.econbiz.de/10012322306
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For Better or For Worse : Algorithmic Choice in Experimental Markets
Asparouhova, Elena N.; Cai, Xiaoqin; Meloso, Debrah; … - 2022
Participants in an experimental market choose to enter private value trades manually and/or algorithmically. Each algorithm or trading robot makes or takes liquidity based on the trader's current marginal valuation modulo a spread chosen by the trader. We evaluate experimental outcomes against...
Persistent link: https://www.econbiz.de/10014255258
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The dynamics of heterogeneity and asset prices
Farkas, Walter; Necula, Ciprian - 2017 - This version: 25 April 2017
impact on asset prices. The agents in the economy differ with respect to impatience, risk aversion, beliefs about the growth …
Persistent link: https://www.econbiz.de/10011875753
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Disagreements with noisy signals and asset pricing
Wang, Hailong; Hu, Duni; Ma, Chaoqun; Cheng, Fengchao - In: The North American journal of economics and finance : a … 51 (2020), pp. 1-35
Persistent link: https://www.econbiz.de/10012659556
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Asymmetries and the Market for Put Options
Farago, Adam; Khapko, Mariana; Ornthanalai, Chayawat - 2021
We study implications of asymmetries in both preferences and fundamentals for put option demand across investors and the resulting market behavior. A heterogenous-agent model populated by investors with asymmetric preferences alongside standard risk-averse agents rationalizes the size and the...
Persistent link: https://www.econbiz.de/10013222263
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Can the Fed Control Inflation? Stock Market Implications
Andrei, Daniel; Hasler, Michael - 2022
This paper investigates how the stock market reacts to the Federal Reserve's ability to tame inflation through rate hikes. Since investors do not directly observe the speed at which rate hikes reduce inflation, they need to learn about it by observing inflation prints. When investors realize...
Persistent link: https://www.econbiz.de/10014239470
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Term Structures of Equity and Interest Rates in Time-Varying Expected Growth Models
Hasler, Michael - 2020
Equilibrium asset-pricing models with time-varying expected economic growth have been criticized for their apparent inability to generate an upward-sloping yield curve and downward-sloping term structures of equity risk and risk premium. We theoretically investigate the model-implied equilibrium...
Persistent link: https://www.econbiz.de/10012835344
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Disaster Recovery and the Term Structure of Dividend Strips
Hasler, Michael - 2020
Recent empirical findings document downward-sloping term structures of equity return volatility and risk premia. An equilibrium model with rare disasters followed by recoveries helps reconcile theory with empirical observations. Indeed, recoveries outweigh the upward-sloping effect of...
Persistent link: https://www.econbiz.de/10012835342
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Endogenous Indeterminacy and Volatility of Asset Prices Under Ambiguity
Mandler, Michael - 2012
If agents are ambiguity-averse and can invest in productive assets, asset prices can robustly exhibit indeterminacy in the markets that open after the productive investment has been launched. For indeterminacy to occur, the aggregate supply of goods must appear in precise configurations but the...
Persistent link: https://www.econbiz.de/10013114388
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Endogenous indeterminacy and volatility of asset prices under ambiguity
Mandler, Michael - In: Theoretical economics : TE ; an open access journal in … 8 (2013) 3, pp. 729-750
If agents are ambiguity-averse and can invest in productive assets, asset prices can robustly exhibit indeterminacy in the markets that open after the productive investment has been launched. For indeterminacy to occur, the aggregate supply of goods must appear in precise configurations but the...
Persistent link: https://www.econbiz.de/10011685225