investors, but hold for both. These findings are consistent with prospect theory and help explain the positive price …

We examine a simple measure of portfolio performance based on prospect theory, which captures not only risk and return …

features with prospect theory, namely, overweighting of small probability events (and corresponding underweighting of high …

experiment affects risk taking. We find some evidence of imitation of the risk taking behavior of others that is distinct from …

characteristics of Kahneman and Tversky’s Prospect Theory. The main methodological innovations of this paper are firstly, that …

Using a stochastic frontier model and a comprehensive dataset, we study factors that affect corporate efficiency in … efficiency, and (iii) high competition is less conductive to efficiency than moderate or low competition. In terms of ownership …, we find that (iv) efficiency increases when a majority owner must deal with minority shareholders and that (v) domestic …