Attribute substitution in household vehicle portfolios
نویسندگان
چکیده
منابع مشابه
Estimating the Elasticity of Intertemporal Substitution with Household-Specific Portfolios
Abstract This paper estimates the elasticity of intertemporal substitution (EIS), allowing for household-specific portfolio. Previous studies that estimated the EIS used financial indexes as a proxy for the risky return on a representative household portfolio. According to the latest data from the 2004 Survey of Consumer Finances, however, the median US stockholders who own stocks directly hold...
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We describe and analyse the portfolio structure of Dutch households using micro panel data from the CentER Savings Survey, 1993-1998. The data allows for a distinction between many types of assets. Moreover, we have information on mortgage debt, consumer debt, etc. We analyse the composition of household portfolios and the level of portfolio diversification, and its relation to age, birth cohor...
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Cognitive biases affect decision making in systems engineering (SE). Daniel Kahneman, 2002 Nobel laureate for his pioneering studies of cognitive biases in economic decision making, describes many disparate cognitive biases as abstractly belonging to one higher-level bias, that of attribute substitution. Attribute substitution occurs when an answer about a target attribute is unconscientiously ...
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A recent Newsweek article entitled “Why We’re Married to the Market” observed: “Seldom, if ever, has Main Street been so enthralled with Wall Street. We have become a nation of stock junkies—splurging on mutual funds, scouring market tables, and studying personal-finance columns” (Samuelson 1998). Journalists, policymakers, and observers from all walks of life have been taking note of the incre...
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ژورنال
عنوان ژورنال: The RAND Journal of Economics
سال: 2020
ISSN: 0741-6261,1756-2171
DOI: 10.1111/1756-2171.12353