Risk tolerance metrics are consistently used in economics experiments as a means to inform researchers how the aggregation of individual choices affects market, organizational, or financial outcomes. Economic theory, however, is silent on their use as a predictive metric for ascertaining why individuals exhibit a particular risk preference. Insight as to the possible drivers of why individuals exhibit a given risk preference may lie in the cognitive and noncognitive characteristics ...
The overall objective of this research is to analyze the impact of wage and bonus increases on enlisted personnel as well as personnel behavior over time and sensitivity to the macroeconomic conditions. Two types of models are used: the Amortized Cost of Leaving (ACOL) maximum likelihood and the non-ACOL information theoretic Generalized Maximum Entropy (GME) method. The bonus experiments for the ACOL models are done in the traditional manner and ...
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