The present report presents the methodological framework applied to define the benchmark on education for employability to be proposed to European Council in 2012. While the three first sections present the proposed indicator, the fourth section discusses the sensitivity of that indicator to a...

Investment in long lived projects such as buildings are characterized by uncertainties regarding project life, operation and maintenance costs, revenues and other factors that affect project economics. Since the exact values of these variable factors are usually unknown, it is difficult to make...

Classic financial agency theory recommends compensation through stock options rather than shares to induce risk neutrality in otherwise risk averse agents. In an experiment, we find that subjects acting as executives do also take risks that are excessive from the perspective of shareholders if...

The study was conducted to determine farmers’ preferential choice decision of alternative cassava value chain strands and as well as factors behind such decisions in Morogoro rural District, Tanzania. Factor analysis was first used to reduce and identify the factors (variables for further...

This paper addresses the question of what determines a poor credit score. We compare estimated credit scores with measures of impulsivity, time preference, risk attitude and trustworthiness, in an effort to determine the preferences that underlie credit behavior. Data are collected using an...

In the real life groups, rather than individuals, take the most part of decisions. So that it is useful to study how groups take a decision in different strategic environments. This paper provides an overview of previous research about groups’ preferences over risk. I compare different...

We systematically explore decision situations in which a decision maker bears responsibility for somebody else's outcomes as well as for her own in situations of payoff equality. In the gain domain we confirm the intuition that being responsible for somebody else's payoffs increases risk...

Cumulative prospect theory introduced the weighting of probabilities as an additional component to capture risk attitudes. However, this addition would be a less significant challenge to expected utility theory (EU) if utility curvature and probability weighting showed strong positive...