This paper investigates the impact of demographic shocks on optimal decisions about saving, life insurance, and, most centrally, asset allocation. The analysis indicates that marital-status transitions can have important effects on optimal household decisions, particularly in the cases of widowhood and divorce. Children also play a fundamental role in portfolio choice; in addition to leading to...

Extensions of unemployment insurance (UI) benefits have been implemented in response to the Great Recession. This paper measures the effect of these extensions on the unemployment rate using a calibrated structural model featuring job search and consumption-saving decisions, skill depreciation, and UI eligibility. The ongoing UI benefit extensions are found to have raised the unemployment rate ...

Deferred acceptance (DA), a widely implemented algorithm, is meant to improve allocations: under classical preferences, it induces preference-concordant rankings. However, recent evidence shows that—in both real, large-stakes applications and experiments—participants frequently play seemingly dominated, significantly costly strategies that avoid small chances of good outcomes. We show theoretic...

This study investigates how the Psychological Capital (PsyCap) of small and medium enterprises (SME) leaders has influenced their strategic responses, ultimately impacting performance companies, during COVID-19 pandemic. Embedded within research on behavioral micro-foundations in strategy, based resource-based theory (RBT) individual entrepreneur as well positive organizational behavior literat...

Self-signaling models predict less selfish behavior in a probabilistic giving setting as individuals are expected to invest pro-social identity. However, there is also substantial evidence that people tend exploit situational excuses for choices (for instance, uncertainty) and behave more selfishly. We contrast these two motivations (identity management self-deception) experimentally order test...

This paper studies how students’ financial literacy affects their perceptions of returns to schooling and consequently decisions. We first propose a model human capital accumulation where financially illiterate students exhibit cognitive bias “ironing heuristic.” With this decision heuristic, tend linearize the relationship between educational investments future earnings, resulting in underesti...

La problemática tratada en este artículo está relacionada con la valoración de los recursos (humanos, económicos, tecnológicos y metodológicos) dentro Universidad Michoacana San Nicolás Hidalgo (UMSNH), un sistema causas efectos del proceso enseñanza-aprendizaje educación superior. El objetivo es entender sinergias una universidad pública a través participación actores clave las funciones esta....

Consumption is the principal feature of Iran’s Gross National Production. Therefore, recognizing of factors that influence it is quite crucial. This article, investigates habit formation, durability, relative risk aversion and intertemporal substitution in consumption expenditures of Iranian households. For empirical study, at first, we constructed two weighted portfolio of the main assets re...