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Does the Risk of Poverty Reduce Happiness?

Caria, Antonio Stefano - 2014

the effect of two-sided uncertainty. A matched behavioural experiment shows that respondents are significantly loss …-averse. We conclude that downside risk is an important determinant of happiness and of economic decisions under uncertainty …

Persistent link: https://www.econbiz.de/10013055066

A welfare economic approach to planetary boundaries

Sureth, Michael; Kalkuhl, Matthias; Edenhofer, Ottmar; … - In: Jahrbücher für Nationalökonomie und Statistik 243 (2023) 5, pp. 477-542

The crises of both the climate and the biosphere are manifestations of the imbalance between human extractive, and polluting activities and the Earth's regenerative capacity. Planetary boundaries define limits for biophysical systems and processes that regulate the stability and life support...

Persistent link: https://www.econbiz.de/10014436822

Poverty, vulnerability, and reference dependent utility

Günther, Isabel; Maier, Johannes - 2013

In this paper we argue that the recent evidence on individuals' decision making is of high relevance for the measurement of poverty when switching from a static and certain to a dynamic and uncertain framework. The numerous proposed measures of multi-period poverty and vulnerability have until...

Persistent link: https://www.econbiz.de/10010225347

The Democrat Disaster : Hurricane Exposure, Risk Aversion and Insurance Demand

Pahontu, Raluca L. - 2020

How do voters respond to heightened risk? Dominant theories expect accountability issues to surface or distributional conflict to intensify once threats become salient. Unsatisfactorily, these accounts rely on compound treatment effects of exposure not only to risk but also to direct losses or...

Persistent link: https://www.econbiz.de/10012844636

Incentive and Welfare Effects of Idiosyncratic Return Risk

Courbage, Christophe - 2020

We provide a microeconomic analysis of the incentive and welfare effects of idiosyncratic return risk. While most of the existing literature has focused on risky returns as an aggregate shock, we allow for correlation between returns and the agent's non-financial endowment. Using a simple...

Persistent link: https://www.econbiz.de/10012852575

Risks in Advanced Age

Guillemette, Michael - 2017

• This paper reviews both published and emerging research on different risks retirees face and possible solutions financial planners can use to help clients overcome behavioral hurdles.• Risk assessment questions that measure loss aversion, as well as reducing myopic behavior, can help keep...

Persistent link: https://www.econbiz.de/10012961137

Agent-based modeling for decision making in economics under uncertainty

Vermeulen, Ben; Pyka, Andreas - 2016

Ever since the emergence of economics as a distinct scientific discipline, policy makers have turned to economic models to guide policy interventions. If policy makers seek to enhance growth of an open capitalist economy, they have to take into account, firstly, the uncertainties,...

Persistent link: https://www.econbiz.de/10011422415

Agent-based modeling for decision making in economics under uncertainty

Vermeulen, Ben; Pyka, Andreas - 2015

Persistent link: https://www.econbiz.de/10011281255

State Decisions in the Face of Uncertainty

Spiecker, Indra - 2004

The legal system encounters many problems in facing uncertainty. Neither does a particular theory exist of how to … static environment. Situations of uncertainty cause these mechanisms to falter as missing knowledge and missing … the decision theory, into the legal understanding starting from the definition of Knightian risk and uncertainty as well …

Persistent link: https://www.econbiz.de/10014126350

R&D, Risk, and the Role of Targeted Government R&D Programs

Gretz, Richard T. - 2013

This paper clarifies the role of passive incentives and targeted government R&D support programs in R&D policy. Using a principal-agent framework, a theoretical model of firm R&D behavior is developed, and suggests that without targeted R&D support programs many R&D projects with the greatest...

Persistent link: https://www.econbiz.de/10013093970