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Staying the Course or Rolling the Dice: Time Horizon’s Effect on the Propensity to Take Risk
(Private Enterprise Research Center, Texas A&M University, 2019-02-06)
Is the old adage that states that the young take more risk than the old correct? In PERC Working Paper 1902, authors Liqun Liu, Andrew J. Rettenmaier and Thomas R. Saving investigate this conventional wisdom in the context ...
Risk and Risk Aversion Effects in Contests with Contingent Payments
(Private Enterprise Research Center, Texas A&M University, 2017-03-01)
Contests by their very nature involve risk, winning and losing are both possible, and the gain from winning can itself be uncertain. The participants in a contest use resources to increase their chance of winning. The main ...
Discounting Environmental Benefits to Future Generations: Implications of a Coordinating Debt Policy and Tax Distortions in the Capital Market
(Private Enterprise Research Center, Texas A&M University, 2018-04-28)
Looking beyond today’s fiscal problems in the U.S., the debate about the how to best incorporate the well-being of subsequent generations in current public policy discussions continues. Authors Liqun Liu, Andrew J. ...