MARC 主機 00000nam  2200325   4500 
001    AAI3227839 
005    20080630113054.5 
008    080630s2006    ||||||||||||||||| ||eng d 
020    9780542819056 
035    (UMI)AAI3227839 
040    UMI|cUMI 
100 1  Hammami, Samir M 
245 10 Essays in behavioral finance and social economics 
300    154 p 
500    Source: Dissertation Abstracts International, Volume: 67-
       08, Section: A, page: 3086 
500    Adviser:  Ignacio Palacios-Huerta 
502    Thesis (Ph.D.)--Brown University, 2006 
520    This dissertation work finds its motivation in the dynamic
       areas of social and behavioral economics. In the first two
       chapters, we take to exploring solutions to asset pricing 
       and financial puzzles when agents have a taste for 
       temptation and incur a cost of self-control. Adopting the 
       axiomatized Gul and Pesendorfer (2001a) and (2001b) 
       dynamic self-control preferences, we investigate the 
       possibilities of matching the first two time-series 
       moments of asset returns and prices. Introducing a value 
       for commitment to the original setup produces agents with 
       an urge to save at equilibrium. For plausible 
       parameterizations of taste and impatience, the model 
       generates a high enough equity premium and a low enough 
       risk-free rate. In the second chapter, we employ self-
       control preferences to explore the other side of the coin 
       of the equity premium: consumption-saving decisions and 
       portfolio allocation. Not unlike the hyperbolic 
       discounting model, the exact Gul and Pesendorfer 
       specification yields higher consumption than its classical
       Merton counterpart while keeping portfolio allocation 
       unchanged. In sum, our findings in the first two chapters 
       suggest an economic value for modelling temptation and 
       self-control in asset markets, albeit with a richer 
       specification than originally proposed. On a different 
       note, the last chapter abstracts from non-classical 
       preferences and rather focuses on non-market interactions 
       of agents. We look at preference for group consumption 
       with learning under uncertainty in the movie-watching 
       market. Our model calibration shows that a small 
       preference for group-viewing in a Bayesian learning 
       environment has a large impact on the variance of box-
       office returns, competition, marginal revenue of 
       advertising, as well as the release date of movies 
590    School code: 0024 
590    DDC 
650  4 Economics, General 
650  4 Economics, Finance 
690    0501 
690    0508 
710 2  Brown University 
773 0  |tDissertation Abstracts International|g67-08A 
856 40 |u