Narrow search
Showing 1 - 10 of 6,249
Cover Image
The Technological Elements of Artificial Intelligence
Taddy, Matthew Alan - 2018
We have seen in the past decade a sharp increase in the extent that companies use data to optimize their businesses. Variously called the `Big Data' or `Data Science' revolution, this has been characterized by massive amounts of data, including unstructured and nontraditional data like text and...
Persistent link: https://www.econbiz.de/10012918102
Cover Image
Using Neural Data to Test a Theory of Investor Behavior : An Application to Realization Utility
Frydman, Cary - 2015
utility" theory of investor behavior, which posits that people derive utility directly from the act of realizing gains and … exhibit a strong disposition effect in their trading, even though it is suboptimal. Consistent with the realization utility … options during choices, correlates with the capital gains of potential trades; that the neural measures of realization utility …
Persistent link: https://www.econbiz.de/10013036251
Cover Image
Salience Theory of Choice Under Risk
Bordalo, Pedro - 2015
We present a theory of choice among lotteries in which the decision maker's attention is drawn to (precisely defined … distinguish it from Prospect Theory, which we test. We also use the model to modify the standard asset pricing framework, and use …
Persistent link: https://www.econbiz.de/10013038557
Cover Image
A New Method of Estimating Risk Aversion
Chetty, Raj - 2003
beyond those of expected utility theory. It is shown that the curvature of the utility function is directly related to the …
Persistent link: https://www.econbiz.de/10012786381
Cover Image
Variable Selection for Portfolio Choice
Ait-Sahalia, Yacine - 2010
-expected utility (ambiguity aversion and prospect theory) objectives and characterize their market-timing, horizon effects, and hedging … importantly, in what combination. We consider investors with both expected utility (mean-variance and CRRA) and non …
Persistent link: https://www.econbiz.de/10012763209
Cover Image
Delays in Claiming Social Security Benefits
Coile, Courtney; Diamond, Peter A.; Gruber, Jonathan; … - 2021
previous literature. Using financial calculations and simulations based on an expected utility maximization model, we show that …
Persistent link: https://www.econbiz.de/10013221087
Cover Image
Negative Expected Value Suits
Bebchuk, Lucian A. - 2021
When the cost of a suit exceeds the expected judgment, will a potential plaintiff be able to extract any amount in settlement from the defendant? If so, what is the source of the plaintiff's ability to extract a settlement? This essay discusses existing theories as to why (and when) plaintiffs...
Persistent link: https://www.econbiz.de/10013240952
Cover Image
Inflation Stabilization and Welfare : The Case of a Distorted Steady State
Benigno, Pierpaolo; Woodford, Michael - 2021
approximation to the expected utility of the representative household in a model of this kind is related inversely to the expected …
Persistent link: https://www.econbiz.de/10013247421
Cover Image
Welfare Dynamics Under Time Limits
Grogger, Jeffrey; Michalopoulos, Charles - 2021
recipient chooses how to allocate her time-limited endowment of benefits so as to maximize her expected lifetime utility. Not …
Persistent link: https://www.econbiz.de/10013248681
Cover Image
Survival Ambiguity and Welfare
Caliendo, Frank - 2017
Nearly all life-cycle models adopt Yaari's (1965) assumption that individuals know the survival probabilities that they face. Given that an individual's exact survival probabilities are likely unknown, we explore the implications of relaxing this assumption. If there is no annuity market, then...
Persistent link: https://www.econbiz.de/10012950059