Blar i NHH Brage på forfatter "Wöhrmann, Peter"
-
Dynamic general equilibrium and t-period fund separation
Gerber, Anke; Hens, Thorsten; Wöhrmann, Peter (Discussion paper, Working paper, 2005-07)We consider a dynamic general equilibrium model with incomplete markets in which we derive conditions for separating the savings decision from the asset allocation decision. It is shown that with logarithmic utility functions ... -
Risk aversion in the large and in the small
Haug, Jørgen; Hens, Thorsten; Wöhrmann, Peter (Discussion paper;2011:12, Working paper, 2011-06)Estimates of agents' risk aversion differ between market studies and experimental studies. We demonstrate that the estimates can be reconciled through consistent treatment of agents' tendency for narrow framing, regarding ...