Comparing behavior under risk and under ambiguity in a lifecycle experiment

Experiments on intertemporal consumption typically show that people have difficulties in optimally solving such problems. Previous studies have focused on contexts in which agents are faced with risky future incomes and have to plan over long horizons. We present an experiment comparing decision making under certainty, risk, and ambiguity, over a shorter lifecycle. Results show that behavior in the ambiguity treatment is markedly different than in the risk condition and it is characterized by a significant pattern of under-consumption.     

Geoadditive modeling for extreme rainfall data

Extreme value models and techniques are widely applied in environmental studies to define protection systems against the effects of extreme levels of environmental processes. Regarding the matter related to the climate science, a certain importance is covered by the implication of changes in the hydrological cycle. Among all hydrologic processes, rainfall is a very important variable as it is strongly related to flood risk assessment and mitigation, as well as to water resources availability and drought identification. We implement here a geoadditive model for extremes assuming that the observations follow a generalized extreme value distribution with spatially dependent location. The analyzed territory is the catchment area of the Arno River in Tuscany in Central Italy.     

Households and Territory. The Location of the Population of Rome in Relation to Housing Supply Characteristics

This study forms part of a general programme of research aimed at evaluating the quality of life in Rome. In particular, we have wished to analyse the way in which housing quality, measured with indicators of housing structure and utilization, intersects with the quality of urban livability, measured here only with indicators of social background, homogeneity and hardship referring to subjects living in the individual segments of the city. Groups of territorial areas, homogeneous by housing typology, were identified using multivariate data analysis and it was thus shown how particular typologies of household respond to this supply. From this emerged a particular model of development of the city in concentric bands, within which the originally differentiated households have tended over time to assume homogeneous characteristics.     

Whither the evolution of the contemporary social fabric? New technologies and old socio‐economic trends

This article considers whether societies are witnessing another industrial revolution in the light of an assessment of the impact of technological change on today's socio‐economic fabric, especially with respect to employment, income distribution, working conditions and labour relations. The authors argue that the processes of innovation and the spread of what they term “intelligent automation” are likely to exacerbate incumbent patterns of uneven income distribution and power, some of which existed well before the arrival of the technologies concerned, while others have emerged over the past 30 to 40 years. They venture to consider policy implications on the basis of such developments.     

Individual vs. group decision-making: an experiment on dynamic choice under risk and ambiguity

This paper focuses on the comparison of individual and group decision-making, in a stochastic inter-temporal problem in two decision environments, namely risk and ambiguity. Using a consumption/saving laboratory experiment, we investigate behaviour in four treatments: (1) individual choice under risk; (2) group choice under risk; (3) individual choice under ambiguity and (4) group choice under ambiguity. Comparing decisions within and between decision environments, we find an anti-symmetric pattern. While individuals are choosing on average closer to the theoretical optimal predictions, compared to groups in the risk treatments, groups tend to deviate less under ambiguity. Within decision environments, individuals deviate more when they choose under ambiguity, while groups are better planners under ambiguity rather than under risk. Our results extend the often observed pattern of individuals (groups) behaving more optimally under risk (ambiguity), to its dynamic dimension.

     

Unequal perceived quality of life among elderly Italians: different satisfaction levels in selected spheres life

Social Indicators Research -     

Should I stay or should I go? Congestion pricing and equilibrium selection in a transportation network

Theory and Decision - When imposing traffic congestion pricing around downtown commercial centers, there is a concern that commercial activities will have to consider relocating due to reduced...     

L'évolution du tissu social – entre nouvelles technologies et tendances socio‐économiques anciennes

Nos sociétés vivent‐elles aujourd'hui une nouvelle révolution industrielle? Les auteurs s'efforcent de répondre à cette question à partir d'une évaluation des conséquences des changements technologiques sur le tissu socio‐économique actuel, notamment sous l'angle de l'emploi, des inégalités, des conditions de travail et des relations professionnelles. Ils avancent que les processus d'innovation et la diffusion de «l'automatisation intelligente» risquent de renforcer des schémas de répartition des revenus et des rapports de force inéquitables (certains préexistants à l'arrivée des technologies et d'autres apparus au cours des trente à quarante dernières années). Ils détaillent les implications de ces évolutions sur les politiques à mettre en ?uvre.     

Which Error Story is Best?

Journal of Risk and Uncertainty - Two recent papers, Harless and Camerer (1994) and Hey and Orme (1994) are both addressed to the same question: which is the ‘best’ theory of decision...