WP 2017

WP 2017_04 The Methodologies of Behavioral Econometrics

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Forthcoming – Philosophy and Interdisciplinary Social Science: A Dialogue

ABSTRACT: Behavioral econometrics is one part of a methodological trinity that includes theory, data collection and econometrics. Sometimes, on a good methodological day, there are few demands on the econometrician and the data can just be described and summarized, or elementary statistical… more »

WP 2017-03 Welfare Effects of Insurance Contract Non-Performance

Posted On February 16, 2017
Categories Working Papers, WP 2017

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ABSTRACT: Non-performance lies at the heart of much of the regulation that insurance companies face. We provide a behavioral evaluation of the welfare effects of non-performance risk, keeping close to the canonical theoretical framework of Doherty and Schlesinger [1990]. We find that there is a significant reduction in efficiency, our preferred… more »

WP 2017-02 Disordered Gambling Prevalence: Methodological Innovations in a General Danish Population Survey

Posted On February 13, 2017
Categories Working Papers, WP 2017

*Note that this paper was previously listed as WP 2016-02 Gambling Problems in the General Danish Population: Survey Evidence, and then was inadvertently reposted as 2017-02. Both links should direct you to this page, and should there be any newer versions, we will update this page.

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ABSTRACT: We study Danish adult… more »

WP 2017-01 The Empirical Adequacy of Cumulative Prospect Theory and its Implications for Normative Assessment

Posted On January 23, 2017
Categories Working Papers, WP 2017

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ABSTRACT: Much behavioral welfare economics assumes that Expected Utility Theory (EUT) does not accurately describe most human choice under risk. A substantial literature instead evaluates welfare consequences by taking Cumulative Prospect Theory (CPT) as the natural default alternative, at least where description is concerned. We present evidence, based on a review… more »