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de prise de décision : analogique, déductif et inductif. Ces processus soulignent la complexité des relations entre les …
Persistent link: https://www.econbiz.de/10010898885
during the experiment to test subjects' understanding of relationships between distribution of votes and voting power. The … results of our experiments suggest that although (a) many subjects learn to choose, in the votes apportionment stage, the …
Persistent link: https://www.econbiz.de/10008794066
prospects in a laboratory experiment. Under low stakes, we find the typical risk seeking behavior for small probabilities … predicted by the prospect theory. But under high stakes, we provide some evidence that risk seeking behavior is dramatically …
Persistent link: https://www.econbiz.de/10008791266
prospects in a laboratory experiment. Under low stakes, we find the typical risk seeking behavior for small probabilities … predicted by the prospect theory. But under high stakes, we provide some evidence that risk seeking behavior is dramatically …
Persistent link: https://www.econbiz.de/10008791715
Il y a 10 ans, nous proposions une réflexion sur le rôle de l'intuition dans les processus de prise de décision, en … concept d'intuition. On parle de Naturalistic Decision Making … plusieurs définitions du concept d'intuition. Puis, nous évoquions son rôle sur la prise de décisions et enfin, nous complétions …
Persistent link: https://www.econbiz.de/10008791030
Intuition is already a long-standing concern but it is often used as an "umbrella term", just as decision-making was in … outcomes have been considered as inefficient mental shortcuts. Then, a relative turn-around for research into intuition … currently gives rise to many publications which show a great vivacity in many disciplines. Research on intuition - and the very …
Persistent link: https://www.econbiz.de/10011025708
is thus subject to some kind of herding behavior. Basing on the traditional Carlson-Parkin approach to quantify …-parametric test for herding behavior (Bernardt et al., 2006) is conducted on the cohort-level expectation estimates, showing that the … expectation formation is not subject to a bias towards the expectation consensus. In constrast, it exhibits a strong anti-herding …
Persistent link: https://www.econbiz.de/10011025927
Using the traditional herding measure of Lakonishok, Shleifer and Vishny (1992) (LSV) and the more recent measure of … Frey, Herbst and Walter (2007) (FHW), we assess herding by French equity mutual funds between 1999 and 2005. We show that … LSV herding amounts to 6.5%, while FHW herding is approximately 2.5 times stronger. We find that herding is stronger in …
Persistent link: https://www.econbiz.de/10010930102
This paper addresses the traditional Lakonishok, Shleifer and Vishny (LSV) herding measure and points out its lack of … formal explanation of this bias and propose a more appropriate measure of herding. We then turn to the properties of the new … propose a corrected version of their indicator. We also show that the real herding value is within an interval bounded by LSV …
Persistent link: https://www.econbiz.de/10008793516
We show how to reverse-engineer banks' risk disclosures, such as Value-at-Risk, to obtain an implied measure of their exposures to equity, interest rate, foreign exchange, and commodity risks. Factor Implied Risk Exposures (FIRE) are obtained by breaking down a change in risk disclosure into a...
Persistent link: https://www.econbiz.de/10010899552