The Stability of Efficiency Rankings when Risk-Preferences are Different

2004 ◽  
Author(s):  
Michael Koetter
Keyword(s):  
Risk Preferences ◽  
The Stability

scholarly journals Eliciting Risk Preferences Experimentally versus Using a General Risk Question. Does Financial Literacy Bridge the Gap?

Risks ◽  
2021 ◽  
Vol 9 (8) ◽  
pp. 140
Author(s):  
Calvin Mudzingiri ◽  
Ur Koumba
Keyword(s):  
Financial Literacy ◽  
Financial Risk ◽  
Risk Preferences ◽  
Random Effect ◽  
Risk Preference ◽  
Self Report ◽  
Panel Regression ◽  
Test Analysis ◽  
Seeking Behavior ◽  
The Stability

The study investigates the stability of financial risk preference choices elicited from subjects by way of two methods, namely: experimentally elicited incentivized revealed risk preferences (IRRP) and (self-reported) perceived willingness to take a financial risk (PWTFR). The research further examines whether financial literacy (a human capital aspect) helps in reducing the gap between IRRP and PWTFR choices made by subjects. A total of 193 university students (where 53% were female) participated in the study. The subjects completed IRRP choices from four multiple price list (MPL) risk preference tasks and a financial literacy questionnaire. There is a tendency to anchor at extremes of risk-seeking behavior when subjects self-report their PWTFR choices. A paired t-test analysis of the two methods shows that the average responses from the two methods are significantly different. A random effect (RE) panel regression shows that an increase in financial literacy narrows the gap between IRRP and PWTFR choices. The study’s findings show that responses by subjects from a PWTFR general risk question (GRQ) and IRRP experiment are unstable and inconsistent. What people say in a survey does not always translate into what they do when faced with a risk preference choice dilemma. Financial literacy helps individuals to predict their risk attitudes more precisely.

scholarly journals On the stability of risk preferences: Measurement matters

2021 ◽  
pp. 110172
Author(s):  
Joop Adema ◽  
Till Nikolka ◽  
Panu Poutvaara ◽  
Uwe Sunde
Keyword(s):  
Risk Preferences ◽  
The Stability

scholarly journals Are Risk Preferences Stable?

2018 ◽  
Vol 32 (2) ◽  
pp. 135-154 ◽  
Author(s):  
Hannah Schildberg-Hörisch
Keyword(s):  
Life Cycle ◽  
Rank Order ◽  
Risk Preferences ◽  
Self Control ◽  
Individual Risk ◽  
Exogenous Shocks ◽  
Natural Catastrophes ◽  
Changes In Risk ◽  
The Stability ◽  
Over Time

It is ultimately an empirical question whether risk preferences are stable over time. The evidence comes from diverse strands of literature, covering the stability of risk preferences in panel data over shorter periods of time, life-cycle dynamics in risk preferences, the possibly long-lasting effects of exogenous shocks on risk preferences as well as temporary variations in risk preferences. Individual risk preferences appear to be persistent and moderately stable over time, but their degree of stability is too low to be reconciled with the assumption of perfect stability in neoclassical economic theory. We offer an alternative conceptual framework for preference stability that builds on research regarding the stability of personality traits in psychology. The definition of stability used in psychology implies high levels of rank-order stability across individuals and not that the individual will maintain the same level of a trait over time. Preference parameters are considered as distributions with a mean that is significantly but less than perfectly stable, plus some systematic variance. This framework accommodates evidence on systematic changes in risk preferences over the life cycle, due to exogenous shocks such as economic crises or natural catastrophes, and due to temporary changes in self-control resources, emotions, or stress. We note that research on the stability of (risk) preferences is conceptually at the heart of microeconomics and systematic changes in risk preferences have vital real-world consequences.

scholarly journals On the Stability of Risk Preferences: Measurement Matters

2021 ◽  
Author(s):  
Joop Age Harm Adema ◽  
Till Nikolka ◽  
Panu Poutvaara ◽  
Uwe Sunde
Keyword(s):  
Risk Preferences ◽  
The Stability

Open discussion

1982 ◽  
Vol 99 ◽  
pp. 605-613
Author(s):  
P. S. Conti
Keyword(s):  
Buenos Aires ◽  
Large Mass ◽  
List Type ◽  
Common Phenomenon ◽  
Open Discussion ◽  
The Stability ◽  
Ring Nebulae

Conti: One of the main conclusions of the Wolf-Rayet symposium in Buenos Aires was that Wolf-Rayet stars are evolutionary products of massive objects. Some questions:–Do hot helium-rich stars, that are not Wolf-Rayet stars, exist?–What about the stability of helium rich stars of large mass? We know a helium rich star of ∼40 MO. Has the stability something to do with the wind?–Ring nebulae and bubbles : this seems to be a much more common phenomenon than we thought of some years age.–What is the origin of the subtypes? This is important to find a possible matching of scenarios to subtypes.

Symmetric Multistep Methods Revisited: II. Numerical Experiments

1999 ◽  
Vol 173 ◽  
pp. 309-314 ◽  
Author(s):  
T. Fukushima
Keyword(s):  
Multistep Methods ◽  
Computational Time ◽  
Integration Time ◽  
Implicit Methods ◽  
Symmetric Methods ◽  
Celestial Bodies ◽  
The Stability ◽  
Predictor Corrector ◽  
Symmetric Multistep Methods ◽  
Integration Errors

AbstractBy using the stability condition and general formulas developed by Fukushima (1998 = Paper I) we discovered that, just as in the case of the explicit symmetric multistep methods (Quinlan and Tremaine, 1990), when integrating orbital motions of celestial bodies, the implicit symmetric multistep methods used in the predictor-corrector manner lead to integration errors in position which grow linearly with the integration time if the stepsizes adopted are sufficiently small and if the number of corrections is sufficiently large, say two or three. We confirmed also that the symmetric methods (explicit or implicit) would produce the stepsize-dependent instabilities/resonances, which was discovered by A. Toomre in 1991 and confirmed by G.D. Quinlan for some high order explicit methods. Although the implicit methods require twice or more computational time for the same stepsize than the explicit symmetric ones do, they seem to be preferable since they reduce these undesirable features significantly.

Uniformity of Magnification from Different Electron Microscopes

1967 ◽  
Vol 25 ◽  
pp. 32-33
Author(s):  
Godfrey C. Hoskins ◽  
V. Williams ◽  
V. Allison
Keyword(s):  
Diffraction Grating ◽  
The Other ◽  
Carbon Replica ◽  
Electron Microscopes ◽  
The Stability

The method demonstrated is an adaptation of a proven procedure for accurately determining the magnification of light photomicrographs. Because of the stability of modern electrical lenses, the method is shown to be directly applicable for providing precise reproducibility of magnification in various models of electron microscopes.A readily recognizable area of a carbon replica of a crossed-line diffraction grating is used as a standard. The same area of the standard was photographed in Phillips EM 200, Hitachi HU-11B2, and RCA EMU 3F electron microscopes at taps representative of the range of magnification of each. Negatives from one microscope were selected as guides and printed at convenient magnifications; then negatives from each of the other microscopes were projected to register with these prints. By deferring measurement to the print rather than comparing negatives, correspondence of magnification of the specimen in the three microscopes could be brought to within 2%.

Effect of Improved ThO2 Particle Dispersion in Nickel on High-Temperature Strength

1970 ◽  
Vol 28 ◽  
pp. 444-445
Author(s):  
E. R. Kimmel ◽  
H. L. Anthony ◽  
W. Scheithauer
Keyword(s):  
High Temperature ◽  
Metal Matrix ◽  
Oxide Particle ◽  
Oxide Phase ◽  
Dislocation Motion ◽  
Particle Dispersion ◽  
High Temperature Strength ◽  
Strengthening Effect ◽  
Oxide Particles ◽  
The Stability

The strengthening effect at high temperature produced by a dispersed oxide phase in a metal matrix is seemingly dependent on at least two major contributors: oxide particle size and spatial distribution, and stability of the worked microstructure. These two are strongly interrelated. The stability of the microstructure is produced by polygonization of the worked structure forming low angle cell boundaries which become anchored by the dispersed oxide particles. The effect of the particles on strength is therefore twofold, in that they stabilize the worked microstructure and also hinder dislocation motion during loading.

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