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Why are some people more optimistic about their life than others? Literature on locus of control suggests that optimism is associated with the belief that one's life outcomes are controlled by internal factors, such as ability, instead of external factors, such as powerful others or chance....
Persistent link: https://www.econbiz.de/10010266644
Why are some people more optimistic about their life than others? Literature on locus of control suggests that optimism is associated with the belief that one’s life outcomes are controlled by internal factors, such as ability, instead of external factors, such as powerful others or...
Persistent link: https://www.econbiz.de/10005051053
Based on the aggregated insights of the existing theories related to multiple sources of efficacy and locus of control, we introduce the theory of mixed control, a model of compound-risk perception. This theory considers outcome expectancies as being composed of expectancies regarding three...
Persistent link: https://www.econbiz.de/10010266690
pessimistic macroeconomic expectations. Further evidence suggests that negative economic news are perceived as more credible and …
Persistent link: https://www.econbiz.de/10012629042
Based on the aggregated insights of the existing theories related to multiple sources of efficacy and locus of control, we introduce the theory of mixed control, a model of compound-risk perception. This theory considers outcome expectancies as being composed of expectancies regarding three...
Persistent link: https://www.econbiz.de/10005090561
realistic expectations later on. This paper shows that the costs induced by high aspirations are not trivial. We first develop a … evidence from a lab experiment on the factor found to be crucial: the adjustment of reference states to changes in expectations …
Persistent link: https://www.econbiz.de/10010263846
The paper introduces the concept of adjustment utility, that is, referencedependent utility from expectations. It …
Persistent link: https://www.econbiz.de/10010263858
realistic expectations later on. This paper shows that the costs induced by high aspirations are not trivial. We ?rst develop a … evidence from a lab experiment on the factor found to be crucial: the adjustment of reference states to changes in expectations …
Persistent link: https://www.econbiz.de/10005090462
The paper introduces the concept of adjustment utility, that is, reference-dependent utility from expectations. It …
Persistent link: https://www.econbiz.de/10005051031
Bubbles are omnipresent in lab experiments with asset markets. But these experiments were (mostly) conducted in … effect algorithmic traders have we use a clean design where we can manipulate only the expectations of human traders. We find … clearly smaller bubbles if human traders expect algorithmic traders to be present. …
Persistent link: https://www.econbiz.de/10010500166