The American Economic Review, Volume 86American Economic Association., 1996 Includes papers and proceedings of the annual meeting of the American Economic Association. Covers all areas of economic research. |
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Página 142
... risk aversion in wealth , RRA = y + λ , will increase , which means holding less of the risky stock and a lower a * . This implies the first part of expected wealth growth in ( 19 ) will be lower . Consequently , the increased risk aversion ...
... risk aversion in wealth , RRA = y + λ , will increase , which means holding less of the risky stock and a lower a * . This implies the first part of expected wealth growth in ( 19 ) will be lower . Consequently , the increased risk aversion ...
Página 159
... risk and the proxy for liquidity constraints . The empirical analysis , carried out in Section IV , confirms that ... aversion and decreasing ab- solute prudence , a reduction in the tax rate increases income risk and lowers the demand ...
... risk and the proxy for liquidity constraints . The empirical analysis , carried out in Section IV , confirms that ... aversion and decreasing ab- solute prudence , a reduction in the tax rate increases income risk and lowers the demand ...
Página 447
... Risk Aversion . - The effects of risk aversion in first - price common value auctions are , in general , ambiguous , as there are two opposing forces at work : with positive ex- pected profit , strategic considerations promote bidding ...
... Risk Aversion . - The effects of risk aversion in first - price common value auctions are , in general , ambiguous , as there are two opposing forces at work : with positive ex- pected profit , strategic considerations promote bidding ...
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aggregate American Economic Review analysis assets assume assumption at-will auction average bargaining behavior bidders buyer buyout capital changes coefficient Common Value Auctions competition composite commodity consumption contract correlation debt default demand denote drilling effect efficient employees English auctions equation equilibrium estimated expected firm firm's function given growth health insurance households implies income increase industry innovation investment Journal of Economics labor lease Lemma loan marginal cost ment monetary mortgage Nash equilibrium neoclassical nomic offer optimal outcome output paper parameter percent period predicted preferences profits Proposition ratio regression relative revenue risk risk aversion Section seller senators share signal social standard standard errors statistics strategy structure symmetric equilibrium Table Theorem theory tion tracts trade units University utility variables Veblen effects voters voting wage winner's curse workers zero