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Essays in the theory of risk-bearing
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The article was published on 1958-01-01 and is currently open access. It has received 3688 citations till now. The article focuses on the topics: Bearing (mechanical).read more
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Smart Shopping Carts: How Real-Time Feedback Influences Spending
TL;DR: In this paper, the authors conduct three lab and grocery store experiments that robustly show that real-time spending feedback has a diverging impact on spending depending on whether a person is budget constrained (budget) or not (non-budget) shoppers.
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Risk-Taking Behavior with Limited Liability and Risk Aversion
TL;DR: In this paper, the authors consider the problem of a risk-averse firm with limited liability and show that the optimal exposure to risk of the limited liability firm is always larger than under full liability.
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Rationality and Charity
Paul Thagard,Richard E. Nisbett +1 more
TL;DR: The authors argue that the stronger principles are likely to block understanding of human behavior and impede progress toward improving it, and support a moderate principle of charity which leaves room for empirically justified judgments of irrationality.
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On Tuition and the Costs of Higher Education: Prolegomena to a Conceptual Framework
TL;DR: In this paper, the authors argue that tuition should perform the function of rationing the available supply of higher educational services and allocate scarce resources between the sector producing higher education services (including graduate education and basic research) and the rest of the economy.
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Modeling Heterogeneous Risk-Taking Behavior in Route Choice: A Stochastic Dominance Approach
Xing Wu,Yu Marco Nie +1 more
TL;DR: In this paper, a unified approach to modeling heterogonous risk-taking behavior in route choice based on the theory of stochastic dominance is proposed, which can be generated using general dynamic programming.