3 results match your criteria American Economic Journal-microeconomics[Journal]

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Risk and Return in Village Economies.

Am Econ J Microecon 2018 Feb;10(1):1-40

Department of Economics, Massachusetts Institute of Technology, 77 Massachusetts Avenue, E52-538, Cambridge, MA 02139.

This paper provides a theory-based empirical framework for understanding the risk and return on productive capital assets and their allocation across activities in an economy characterized by idiosyncratic and aggregate risk and thin formal markets for real and financial assets. We apply our framework to households running business enterprises in Thai villages with extensive networks, taking advantage of panel data: income, assets, consumption, gifts, and loans. We decompose risk and estimate the risk premia faced by households, distinguishing aggregate risk from idiosyncratic, potentially diversifiable risk. Read More

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http://dx.doi.org/10.1257/mic.20160125DOI Listing
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC6687338PMC
February 2018

Neural Activity Reveals Preferences Without Choices.

Am Econ J Microecon 2014 May;6(2):1-36

Humanities and Social Sciences and Computational and Neural Systems, California Instititue of Technology, MC 228-77, Pasadena, CA 91125.

We investigate the feasibility of inferring the choices people would make (if given the opportunity) based on their neural responses to the pertinent prospects when they are not engaged in actual decision making. The ability to make such inferences is of potential value when choice data are unavailable, or limited in ways that render standard methods of estimating choice mappings problematic. We formulate prediction models relating choices to "non-choice" neural responses and use them to predict out-of-sample choices for new items and for new groups of individuals. Read More

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http://dx.doi.org/10.1257/mic.6.2.1DOI Listing
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC4339868PMC
May 2014
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Distributional Preferences, Reciprocity-Like Behavior, and Efficiency in Bilateral Exchange.

Am Econ J Microecon 2015;7(1):70-98

Department of Economics, Cornell University, 480 Ursis Hall ( ).

Under what conditions do distributional preferences, such as altruism or a concern for fair outcomes, generate efficient trade? I analyze theoretically a simple bilateral exchange game: each player sequentially takes an action that reduces his own material payoff but increases the other player's. Each player's preferences may depend on both his/her own material payoff and the other player's. I identify two key properties of the second-mover's preferences: indifference curves kinked around "fair" material-payoff distributions, and materials payoffs entering preferences as "normal goods. Read More

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http://dx.doi.org/10.1257/mic.20120109DOI Listing
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC4316380PMC
January 2015
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