WP 2018

WP 2018-06 Eye-Tracking and Economic Theories of Choice Under Risk

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Published in 2019 in Journal of the Economic Science Association, Volume 5, Issue 1.

AUTHORS: Glenn W. Harrison and J. Todd Swarthout

ABSTRACT: We examine the ability of eye movement data to help understand the determinants of decision-making over risky prospects. We start with structural models of choice under risk,… more »

WP 2018-04 Do People Bundle Sequences of Choices? An Experimental Investigation

Posted On July 16, 2018
Categories Working Papers, WP 2018

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AUTHORS: George Ainslie, Glenn W. Harrison, Morten I. Lau, Don Ross, Alexander Schuhr and J. Todd Swarthout

ABSTRACT: Economists and psychologists have sought to model and explain both impulsive behavior and the costly but often successful mechanisms by which people control it. Ainslie [1975][1992][2001] suggests that self-control is often achieved… more »

WP 2018-03 Responses to Saving Commitments: Evidence from Mortgage Run-offs

Posted On April 21, 2018
Categories Working Papers, WP 2018

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AUTHORS: Steffen Andersen, Philippe d’Astous, Jimmy Martínez-Correa and Stephen H. Shore

ABSTRACT: We study consumers’ responses to removing a saving constraint. Mortgage run-offs predictably relax a saving constraint for borrowers whose mortgage committed them to save by paying down principal. Using the entire Danish population, we identify mortgages on track to… more »

WP 2018-02 Reinsurance Versus Securitization of Catastrophe Risk

Posted On March 27, 2018
Categories Working Papers, WP 2018

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AUTHORS: Ajay Subramanian and Jinjing Wang

ABSTRACT: We provide a novel explanation for the low volume of securitization in catastrophe risk transfer using a signaling model. Relative to securitization, reinsurance features lower adverse selection costs because reinsurers possess superior underwriting resources than ordinary capital market investors. Reinsurance premia, however, reflect… more »