It is well known that a high degree of relative risk aversion induces equilibrium indeterminacy in cash−in−advance economies. I find that by endogenously adjusting the nominal money supply to output fluctuations, these equilibria can be effectively eliminated. This paper was written while I was a DFG Heisenberg Fellow. I would like to thank the Federal Reserve Bank of San Francisco for its hosp...

Consider a differentiated product market in which all consumers are fully informed about match value and price at the time they make their purchasing decision. Initially, consumers become informed about the prices of all products in the market but do not know the match values. Some consumers have reference-dependent utilities—i.e., they form a reference-point distribution with respect to match ...

Objective(s) Cigarette and nicotine enhances embryogenesis, fertility, pregnancy loss and ultrastructure alterations of oocyte. This study was performed to determine the effect of daily supplementation of vitamin E on oocytes apoptosis in nicotine-treated mice. Materials and Methods In this experimental study, 24 NMARI adult female mice were randomly allocated into four experimental groups. ...

Abstract We analyse land transaction and residential development data from Beijing, China identify that developers’ evaluation of exhibits reference dependence loss aversion. Developers with prior losses set higher house prices than those without losses. This effect is strongest at the beginning towards end property sales period. It moderated by ownership structure listing status. Privately-own...

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Abstract In this paper, we investigate how loss aversion affects people’s behavior in private litigation. We find that a loss-averse plaintiff demands higher settlement for intermediate claims to maintain her threat proceed trial following rejection compared loss-neutral plaintiff. For larger claims, lower offer increase the probability as pains extra trial. also various policies affect litigan...