Similar Search Results

An Empirical Assessment of Alternative Models of Risky Decision Making

Baker, Joanna R. - 2010

In this paper, we assess the degree to which four of the most commonly used models of risky decision making can explain … explain the decision-making behavior of the majority of our subjects. Surprisingly, we find that the choice behavior of the … of risky decision making …

Persistent link: https://www.econbiz.de/10013135363

Classifying Behaviors in Risky Choices

Kontek, Krzysztof - 2010

their dissimilarity from the perfectly rational decision making? How to rank subjects by risk attitudes? How to cluster …

Persistent link: https://www.econbiz.de/10013141177

Perceived Repeated Risk and the Allais Paradox

Lichtendahl, Kenneth C. - 2011

Empirical evidence on the common ratio effect, a version of the Allais paradox, indicates that people are nonlinearly sensitive to probabilities. The leading explanation of this effect is prospect theory and its nonlinear weights applied to probabilities. We propose an alternative explanation:...

Persistent link: https://www.econbiz.de/10013120710

Sequence Risk : Managing Retiree Exposure to Sequence Risk Through Probability of Failure Based Decision Rules

Frank Sr, Larry R. - 2011

• This paper broadens the perspective on sustainable distributions by expanding into three dimensions, introducing transitory states as well as all those states existing simultaneously.• Withdrawal rates alone do not tell a complete sustainable distribution story; withdrawal rates are time...

Persistent link: https://www.econbiz.de/10013124747

Time, Utility, Risk : Size-of-Risk Attitude and Distinct Decision Makers

Ferretti, Paola - 2009

aversion in the case of a Decision Maker who acts as a Buyer in order to study a different notion of risk aversion: the concept …

Persistent link: https://www.econbiz.de/10013153478

Does Everyone Use Probabilities? Intuitive and Rational Decisions About Stockholding

Binswanger, Johannes - 2013

to a better understanding of the role of cognitive skills in decision making under uncertainty …

Persistent link: https://www.econbiz.de/10013085047

Risk Preferences and Aging : The 'Certainty Effect' in Older Adults’ Decision Making

Mather, Mara - 2013

A prevalent stereotype is that people become less risk taking and more cautious as they get older. However, in laboratory studies, findings are mixed and often reveal no age differences. In the current series of experiments, we examined whether age differences in risk seeking are more likely to...

Persistent link: https://www.econbiz.de/10013091033

Intuition and Reasoning in Choosing Ambiguous and Risky Lotteries

Bergheim, Ralf - 2013

This paper focuses on information acquisition and individual decision making in ambiguous situations and presents a …, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that … an ambiguity averse subject should reduce ambiguity within a decision process we predicted that these subjects would …

Persistent link: https://www.econbiz.de/10013073252

Information Acquisition and Decisions Under Risk and Ambiguity

Bergheim, Ralf - 2014

This paper experimentally investigates how fair value measurements of financial instruments affect the decision of … decision. We find that investment decreases as a result of transitions from the first to the third level and we even observe …

Persistent link: https://www.econbiz.de/10013050234

Inducing Leaders to Take Risky Decisions : Dismissal, Tenure, and Term Limits

Aghion, Philippe - 2014

In this paper we analyze the problem of whether and/or when to replace a leader (agent) when no monetary rewards are available, and it is the leader's competence rather than effort that is being evaluated. The only decisions that the leader takes over time are whether to undertake risky but...

Persistent link: https://www.econbiz.de/10013050303