160 research outputs found

    A microeconometric analysis of risk aversion and the decision to self-insure

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    This study estimates a von Neumann-Morgenstern utility function using market data and microeconometric methods. We investigate the decision whether to purchase insurance against the risk of telephone line trouble in the home. Using the choices of approximately 10,000 residential customers, we determine the shape of the utility function and the degree of risk aversion. We find that risk aversion varies systematically in the population and varies with the level of income and that the observed choice behavior is consistent with expected utility maximization

    A Micro-Econometric Analysis of Risk-Aversion and the Decision to Self-Insure

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    This study estimates a von Neumann-Morgenstern utility function using market data and micro-econometric methods. We investigate the decision whether to purchase insurance against the risk of telephone line trouble in the home. Using the choices of approximately 10,000 residential customers, we determine the shape of the utility function and the degree of risk-aversion. We find that risk-aversion varies systematically in the population and varies with the level of income and that the observed choice behavior is consistent with expected utility maximization. We are unable to detect the presence of ambiguity effects or over-weighting of low-probability events

    Some Day I\u27ll Make You Care

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    Illustration of woman\u27s face with roses and stemshttps://scholarsjunction.msstate.edu/cht-sheet-music/7613/thumbnail.jp

    Voting on Growth Control Measures: Preferences and Strategies

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    Citizens of many California cities and counties have sought to restrict the rate of population growth in their localities. In 1988, Citizens for Limited Growth used the initiative process to place a pair of growth control measures on the ballot in the City and County of San Diego, respectively. The City Council and Board of Supervisors responded by placing less stringent, competing measures on the same ballot. This paper analyzes voting data from this election to examine the nature of support for such measures. We find strong support for the hypotheses that whites, homeowners, liberal/environmentalists, and those exposed to high levels of traffic congestion are more likely to favor growth controls. This paper also investigates the behavior of voters when they confront competing propositions concerning the same issue on the same ballot, and finds strong evidence of strategic voting

    The Use and Misuse of Surveys in Economic Analysis: Natural Resource Damage Assessment Under CERCLA

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    This paper examines problems with the admissibility of contingent use methodology surveys in natural resource damage assessment cases under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA), as well as the propriety of their use in formulating public policy. Using a contingent use survey conducted in conjunction with the New Bedford Harbor Superfund case and two follow-up surveys, a number of errors and biases associated with contingent use methodology surveys are isolated and analyzed

    A microeconometric analysis of risk aversion and the decision to self-insure

    Get PDF
    This study estimates a von Neumann-Morgenstern utility function using market data and microeconometric methods. We investigate the decision whether to purchase insurance against the risk of telephone line trouble in the home. Using the choices of approximately 10,000 residential customers, we determine the shape of the utility function and the degree of risk aversion. We find that risk aversion varies systematically in the population and varies with the level of income and that the observed choice behavior is consistent with expected utility maximization

    A Micro-Econometric Analysis of Risk-Aversion and the Decision to Self-Insure

    Get PDF
    This study estimates a von Neumann-Morgenstern utility function using market data and micro-econometric methods. We investigate the decision whether to purchase insurance against the risk of telephone line trouble in the home. Using the choices of approximately 10,000 residential customers, we determine the shape of the utility function and the degree of risk-aversion. We find that risk-aversion varies systematically in the population and varies with the level of income and that the observed choice behavior is consistent with expected utility maximization. We are unable to detect the presence of ambiguity effects or over-weighting of low-probability events

    The Use and Misuse of Surveys in Economic Analysis: Natural Resource Damage Assessment Under CERCLA

    Get PDF
    This paper examines problems with the admissibility of contingent use methodology surveys in natural resource damage assessment cases under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA), as well as the propriety of their use in formulating public policy. Using a contingent use survey conducted in conjunction with the New Bedford Harbor Superfund case and two follow-up surveys, a number of errors and biases associated with contingent use methodology surveys are isolated and analyzed

    Voting on Growth Control Measures: Preferences and Strategies

    Get PDF
    Citizens of many California cities and counties have sought to restrict the rate of population growth in their localities. In 1988, Citizens for Limited Growth used the initiative process to place a pair of growth control measures on the ballot in the City and County of San Diego, respectively. The City Council and Board of Supervisors responded by placing less stringent, competing measures on the same ballot. This paper analyzes voting data from this election to examine the nature of support for such measures. We find strong support for the hypotheses that whites, homeowners, liberal/environmentalists, and those exposed to high levels of traffic congestion are more likely to favor growth controls. This paper also investigates the behavior of voters when they confront competing propositions concerning the same issue on the same ballot, and finds strong evidence of strategic voting

    Analytic Quantization of the QCD String

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    We perform an analytic semi-classical quantization of the straight QCD string with one end fixed and a massless quark on the other, in the limits of orbital and radial dominant motion. We compare our results to the exact numerical semi-classical quantization. We observe that the numerical semi-classical quantization agrees well with our exact numerical canonical quantization.Comment: RevTeX, 10 pages, 9 figure
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