کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
983496 934019 2013 12 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Expropriation risk and discounting
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Expropriation risk and discounting
چکیده انگلیسی

This paper focuses on time preference and individual measures of expropriation risk. We use survey data on Italian households and on the 50+ population in eleven European countries. The surveys provide measures of discount rate and proxies for expropriation due to criminal offenses. We show that impatience increases with expropriation risk.


► We provide measures of impatience and expropriation risk using Italian and cross-country micro-data.
► We investigate the relation between impatience and expropriation risk.
► Both the Italian and the cross-country data show that impatience increases with expropriation risk.
► To rationalize this finding, we provide a model where preferences are allowed to be affected by risk.
► We show that there can exist a configuration of model's parameters, which can account for the empirical results.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Research in Economics - Volume 67, Issue 2, June 2013, Pages 145–156
نویسندگان
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