| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27685 |
| 来源ID | Working Paper 27685 |
| Behavioral Welfare Economics and Risk Preferences: A Bayesian Approach | |
| Xiaoxue Sherry Gao; Glenn W. Harrison; Rusty Tchernis | |
| 发表日期 | 2020-08-17 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We propose the use of Bayesian estimation of risk preferences of individuals for applications of behavioral welfare economics to evaluate observed choices that involve risk. Bayesian estimation provides more systematic control of the use of informative priors over inferences about risk preferences for each individual in a sample. We demonstrate that these methods make a difference to the rigorous normative evaluation of decisions in a case study of insurance purchases. We also show that hierarchical Bayesian methods can be used to infer welfare reliably and efficiently even with significantly reduced demands on the number of choices that each subject has to make. Finally, we illustrate the natural use of Bayesian methods in the adaptive evaluation of welfare. |
| 主题 | Econometrics ; Estimation Methods ; Microeconomics ; Welfare and Collective Choice ; Economics of Information ; Financial Economics ; Behavioral Finance |
| URL | https://www.nber.org/papers/w27685 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/585357 |
| 推荐引用方式 GB/T 7714 | Xiaoxue Sherry Gao,Glenn W. Harrison,Rusty Tchernis. Behavioral Welfare Economics and Risk Preferences: A Bayesian Approach. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27685.pdf（1283KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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