Risk management in this paper is focused on multivariate risk-return decision making assuming time-varying estimation … constraints on risk measure. Hence, risk measure dynamic estimation is used in risk controlling. By risk control manager makes …. Empirical research in risk management showed that the static "mean-variance" methodology in portfolio optimization is very …

In this paper, we assess the degree to which four of the most commonly used models of risky decision making can explain … enough to approximate Kahnenman and Tversky's prospect theory and that for certain parametric values will yield the expected … explain the decision-making behavior of the majority of our subjects. Surprisingly, we find that the choice behavior of the …

In this paper, we assess the degree to which four of the most commonly used models of risky decision making can explain … enough to approximate Kahnenman and Tversky's prospect theory and that for certain parametric values will yield the expected … explain the decision-making behavior of the majority of our subjects. Surprisingly, we find that the choice behavior of the …

Expected utility theory (EUT) is currently the standard framework which formally defines rational decision-making under … behaviour under utility theory is incompatible with scarcity of resources, making behaviour consistent with EUT irrational and …

overconfidence. Cognitive uncertainty represents a decision maker's uncertainty about her action optimality. We present a simple …

emphasizing variables derived from formal decision theory. In a data set on trainee truckers in a large US company, we provide a … comparing the predictive power of measurements derived from personality theory and decision theory for several individual …. Further, decision theory and personality variables are meaningfully related. For example, we confirm that cognitive ability …

, such as decision under Knightian uncertainty, the dynamics of economic (in)stability, and the voters’ preferences over …

Behavioral economics characterizes decision-makers using psychologically-informed models. Cognitive science produces …