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Strength of preference and decision making under risk
Alós-Ferrer, Carlos; Garagnani, Michele - 2020 - Revised version
Influential economic approaches as random utility models or quantal-response equilibria assume a monotonic relation between error rates and choice difficulty or "strength of preference", in line with widespread evidence from discrimination tasks in psychology and neuroscience. However, while the...
Persistent link: https://www.econbiz.de/10012243085
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Calibration of quantum decision theory, aversion to large losses and predictability of probabilistic choices
Vincent, Sabine; Jukalov, Vjačeslav I.; Kovalenko, Tatyana - 2016
We present the first calibration of quantum decision theory (QDT) to an empirical data set. The data comprise 91 …. The prediction of choice reversal is then refined by introducing heterogeneity between decision makers through a … differentiation of the population into two similar sized groups in terms of "over-confident" and "contrarian" decision makers. This …
Persistent link: https://www.econbiz.de/10011516615
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Quantum decision theory in simple risky choices
Favre, Maroussia; Wittwer, Amrei; Heinimann, Hans Rudolf; … - 2016
Quantum decision theory (QDT) is a recently developed theory of decision making based on the mathematics of Hilbert … decision making. QDT describes a decision maker's choice as a stochastic event occurring with a probability that is the sum of … subjectivity on decision makers, the quarter law. We examine individual and aggregated (group) data, and find that the results are …
Persistent link: https://www.econbiz.de/10011514496
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Stochastic choice and preference reversals
Alós-Ferrer, Carlos; Buckenmaier, Johannes; Garagnani, … - 2020 - This version: December 7th, 2020
The preference reversal phenomenon is one of the most important, long-standing, and widespread anomalies contradicting economic models of decisions under risk. It describes the robust observation of frequent "standard reversals" where long-shot gambles are valued above moderate ones but then the...
Persistent link: https://www.econbiz.de/10012390055
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Beauty contests and irrational exuberance : a neoclassical approach
Angeletos, Marios; Lorenzoni, Guido; Pavan, Alessandro - 2010
Persistent link: https://www.econbiz.de/10003960220
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A theory of asset pricing based on heterogeneous information
Albagli, Elias; Hellwig, Christian; Tsyvinski, Aleh - 2011
Persistent link: https://www.econbiz.de/10009378631
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A theory of asset prices based on heterogeneous information
Albagli, Elias; Hellwig, Christian; Tsyvinski, Aleh - 2013
Persistent link: https://www.econbiz.de/10009713880
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Climate change and firm valuation : evidence from a quasi-natural experiment
Krüger, Philipp - 2015
In this paper, I estimate the effect of mandatory greenhouse gas (GHG) emissions disclosure on corporate value. Using the introduction of mandatory GHG emissions reporting for firms listed on the Main Market of the London Stock Exchange as a source of exogenous variation, I find that firms most...
Persistent link: https://www.econbiz.de/10011412402
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The choice of valuation techniques in practice : education versus profession
Mukhlynina, Lilia; Nyborg, Kjell G. - 2016
Persistent link: https://www.econbiz.de/10011502307
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Valuation and value creation of insurance intermediaries
Max, Claudia - 2016
Introduction -- Agents and brokers in the insurance industry : an intriguing area for further research -- Valuation of small and medium-sized insurance brokers : establishing a valuation approach for business succession -- Value creation in insurance intermediary mergers and acquisitions : an...
Persistent link: https://www.econbiz.de/10011452832