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Keyword: rational carelessness;
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Most governments try to discourage their citizens from taking extreme risks with their health and lives. Yet, for reasons not understood, many people continue to do so. We suggest a new approach to this longstanding ques...Read more...
Jan-Emmanuel De Neve, Robert J. B. Goudie, Sach Mukherjee, Andrew J. Oswald and Stephen Wu
24 February 2012
We study a standard consumption based asset pricing model with rationally investing agents but allow agents’ prior beliefs about price and dividend behavior to deviate slightly from rational expectations priors. Learning...Read more...
Klaus Adam, Albert Marcet and Juan Pablo Nicolini
19 September 2011