Similar Search Results

Income Risk, Precautionary Saving, and Loss Aversion – An Empirical Test

Ibanez, Marcela; Schneider, Sebastian O. - 2021

uncertainty about future income triggers saving because of loss aversion. We extend their theoretical analysis to also consider …

Persistent link: https://www.econbiz.de/10013243502

Income risk, precautionary saving, and loss aversion : an empirical test

Ibanez, Marcela; Schneider, Sebastian O. - 2021

uncertainty about future income triggers saving because of loss aversion. We extend their theoretical analysis to also consider …

Persistent link: https://www.econbiz.de/10012438025

Income risk, precautionary saving, and loss aversion : an empirical test

Ibanez, Marcela; Schneider, Sebastian O. - 2023

This paper empirically examines the behavioral precautionary saving hypothesis that uncertainty about future income …

Persistent link: https://www.econbiz.de/10014312199

Is Utility Transferable? A Revealed Preference Analysis

Cherchye, Laurens; Demuynck, Thomas; Rock, Bram de - 2011

We provide a revealed preference analysis of the transferable utility hypothesis, which is widely used in economic models. First, we establish revealed preference conditions that must be satisfied for observed group behavior to be consistent with Pareto efficiency under transferable utility....

Persistent link: https://www.econbiz.de/10014185457

Is utility transferable? : a revealed preference analysis

Cherchye, Laurens; Demuynck, Thomas; Rock, Bram de - In: Theoretical economics : TE ; an open access journal in … 10 (2015) 1, pp. 51-65

The transferable utility hypothesis underlies important theoretical results in household economics. We provide a revealed preference framework for bringing this (theoretically appealing) hypothesis to observational data. We establish revealed preference conditions that must be satisfied for...

Persistent link: https://www.econbiz.de/10011674052

Is Utility Transferable? A Revealed Preference Analysis

Cherchye, Laurens - 2011

Persistent link: https://www.econbiz.de/10013129058

The Real Effects of Sentiment and Uncertainty

Birru, Justin; Young, Trevor - 2023

The effects of sentiment should be strongest during times of heightened valuation uncertainty. As such, we document a … significant amplifying role for market uncertainty in the relation between sentiment and aggregate investment. A one …-standard-deviation increase in uncertainty more than doubles the effect of sentiment on investment. Moreover, allowing uncertainty …

Persistent link: https://www.econbiz.de/10014350126

Reward-Risk Ratios

Cheridito, Patrick - 2013

We introduce three new families of reward-risk ratios, study their properties and compare them to existing examples. All ratios in the three families are monotonic and quasi-concave, which means that they prefer more to less and encourage diversification. Members of the second family are also...

Persistent link: https://www.econbiz.de/10013090253

Does smooth ambiguity matter for asset pricing?

Gallant, A. Ronald; Jahan-Parvar, Mohammad R.; Liu, Hening - 2018

We use the Bayesian method introduced by Gallant and McCulloch (2009) to estimate consumption-based asset pricing models featuring smooth ambiguity preferences. We rely on semi-nonparametric estimation of a flexible auxiliary model in our structural estimation. Based on the market and aggregate...

Persistent link: https://www.econbiz.de/10011780610

Educational choice, initial wage and wage growth

Mazza, Jacopo; Ophem, Hans van - 2020

We investigate the major choice of college graduates where we make choice dependent on expected initial wages and expected wage growth per major. We build a model that allows us to estimate these factors semiparametrically and that corrects for selection bias. We estimate the model on the...

Persistent link: https://www.econbiz.de/10012228687