Published in June 2024 in Labour Economics, Vol. 88.
AUTHORS: Philippe d'Astous and Stephen Shore
ABSTRACT: University programs differ in the subsequent earnings processes of their enrollees, including many features that students might care about to differing degrees such as the level of average earnings, earnings growth, and volatility. Do the… more »
Published in April 2024 in Journal of Financial Economics, Vol. 154.
AUTHORS: Philippe d'Astous and Stephen Shore
ABSTRACT: Theory suggests that increasing idiosyncratic, uninsurable labor income risk may cause individuals to reduce the risk in their financial assets. This relationship is confounded empirically by the tendency of risk tolerant people to… more »
AUTHORS: Aleksandr Alekseev, Glenn W. Harrison, Morten Lau and Don Ross
ABSTRACT: Theoretical work on stochastic choice mainly focuses on the sources of choice randomness, and less on its economic consequences. We close this gap by developing a method of extracting information about the costs of noise from structural estimates… more »
AUTHORS: Wynn C. Stirling and Don Ross
ABSTRACT: This paper extends stationary Markov chain convergence theory to model discrete-time regular multivariate Markov chains with joint-conditioning transition probability functions that condition the future state of each process on the present states of all processes considered jointly. This result is a formal… more »
Forthcoming, The Geneva Risk and Insurance Review
AUTHORS: Glenn W. Harrison
ABSTRACT: The ability to run experiments, or to see natural data as a quasi-experiment, does not free one from the need for theory when evaluating insurance behavior. Theory can be used to motivate the experimental design, evaluate latent effects… more »
