نتایج جستجو برای: risk aversion
تعداد نتایج: 946592 فیلتر نتایج به سال:
Might the resource costliness of making signals credible be low or negligible? Using a job market as an example, we build a signaling model to determine the extent to which a transfer from an applicant might replace a resource cost as an equilibrium method of achieving signal credibility. Should a firm’s announcement of hiring for an open position be believed, the firm has an incentive to use a...
Cressy (2000) argues that the positive correlation between assets and the rate of business startups is due to DARA preferences. We show however that the required property is prudence, and prudence is consistent with DARA, IARA or CARA. © 2013 Elsevier B.V. All rights reserved.
A continuous-time sequential job search model with savings and CARA preferences is solved analytically without resorting to unlimited borrowing and real-valued consumption. I isolate the effects of limited borrowing and nonnegative consumption as well as risk-aversion on the reservation wage by using a system of ordinary differential equations.
We study a definition of subjective beliefs applicable to preferences that allow for the perception of ambiguity, and provide a characterization of such beliefs in terms of market behavior. Using this definition, we derive necessary and sufficient conditions for the efficiency of ex ante trade and show that these conditions follow from the fundamental welfare theorems. When aggregate uncertaint...
We study the price competition of two supply chains with demand uncertainty. Each supply chain consists of one risk-averse manufacturer and one risk-averse retailer. We consider two cases: two competing decentralized supply chains and two competing integrated supply chains. We analyze the effects of the demand uncertainty on the supply chains’ expected profits. In the first case, we find that t...
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