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The Probability Premium Approach to Comparative Risk Aversion
(Private Enterprise Research Center, Texas A&M University, 2015-04-23)
In the framework of expected utility, nth-degree risk aversion/loving is unequivocally characterized by the sign of the nth-order derivative of the utility function, but there exist different notions of one decision maker ...
The Vicious Circle of Blackouts and Revenue Collection in Developing Economies: Evidence from Ghana
(Private Enterprise Research Center, Texas A&M University, 2018-11-20)
Access to reliable electricity is one of the largest barriers to economic growth in developing economies. Utilities suffer from the twin challenges of quasi-fiscal deficits and the need to implement rolling blackouts during ...
The Time Varying Effect of Monetary Policy Surprise on Stock Returns: Bursting Bubble Beating Forward Guidance
(Private Enterprise Research Center, Texas A&M University, 2015-07-09)
The authors study the time varying effects of monetary policy on the stock returns in order to capture changes in the effectiveness of monetary policy over time. They find that a one percentage point surprise federal funds ...
The Long-Run Effects of Disruptive Peers
(Private Enterprise Research Center, Texas A&M University, 2016-08-09)
There's a great deal of research on how classmates can affect test scores and discipline in school, but what about later in life? In Working Paper 1605, the authors look at the long-term impact of childhood peers, particularly ...
The Relationship Between Health Insurance and Early Retirement: Evidence from the Affordable Care Act
(Private Enterprise Research Center, Texas A&M University, 2018-08-27)
Beginning with the first round of the Affordable Care Act’s Medicaid expansions, which specifically targeted low-income adults without dependent children, the uninsured rate reached a record low in 2015. However, the ...
What Happened to Rosie?
(Private Enterprise Research Center, Texas A&M University, 2015-02-01)
Identifying the relationship between wartime work and women’s lifetime outcomes is difficult due to scant work histories from the 1940s. This study identifies “Rosie the Riveters� using data from the 1973 Current ...
Tradeoffs for Downside Risk-Averse Decision-Makers and the Self-Protection Decision
(Private Enterprise Research Center, Texas A&M University, 2015-03-26)
Besides risk aversion, decision makers are often assumed to be downside risk averse. In order to investigate tradeoffs that downside risk averse decision makers face, this paper proposes five stochastic orders, each ...
Vehicle Miles (Not) Traveled: Fuel Economy Requirements, Vehicle Characteristics, and Household Driving
(Private Enterprise Research Center, Texas A&M University, 2016-08-01)
Simply put, the less Americans drive, the less gas they use. More driving, more gas. The negative effects of gasoline consumption are well-documented, ranging from local effects of automobile pollution on individuals' ...
Why Do Asian Students Study Harder? Implications of a Model of Academic Competition
(Private Enterprise Research Center, Texas A&M University, 2019-08-28)
Popularized by the OECD’s PISA rankings of a few dozen countries/regions according to the test results of their 15 year olds, Asian students’ impressive academic achievements are now well known. Each of the top five ...