Narrow search
Showing 1 - 10 of 503
Cover Image
Making Prospect Theory Fit for Finance
De Giorgi, Enrico; Hens, Thorsten - Institut für Schweizerisches Bankwesen <Zürich> - 2006
The prospect theory of Kahneman and Tversky (1979) and the cumulative prospect theory of Tversky and Kahneman (1992) are descriptive models for decision making that summarize several violations of the expected utility theory. This paper gives a survey of applications of prospect theory to the...
Persistent link: https://www.econbiz.de/10005858528
Cover Image
Does Prospect Theory Explain the Disposition Effect?
Hens, Thorsten; Vlcek, Martin - Institut für Schweizerisches Bankwesen <Zürich> - 2006
. A standard explanation of the disposition effect refers to prospect theory and in particular to the asymmetric risk … aversion according to which investors are risk averse when faced with gains and risk-seeking when faced with losses. We show … that the investment has taken place, but not ex-ante, requiring that the investment is made in the first place. …
Persistent link: https://www.econbiz.de/10005858770
Cover Image
On altruism and remittances
Antoniades, Alexis; Seshan, Ganesh; Weber, Roberto; … - 2013
We provide a direct test of the impact of altruism on remittances. From a sample of 105 male migrant workers from Kerala, India working in Qatar, we elicit the propensity to share with others from their responses in a dictator game, and use it as a proxy for altruism. When the entire sample is...
Persistent link: https://www.econbiz.de/10010332035
Cover Image
Does revolution change risk attitudes? Evidence from Burkina Faso
Sepahvand, Mohammad H.; Shahbazian, Roujman; Swain, … - 2019
individuals' risk attitudes changed due to this revolution. Specifically, we investigate the impact of the revolution on risk … Budget Survey, which allows us to track the changes in the risk attitudes of the same individuals before, during and after … the revolution. Our results suggest that the impact of the revolution is short-term. Individuals become risk averse during …
Persistent link: https://www.econbiz.de/10012013526
Cover Image
Ownership and purchase intention of crypto-assets – survey results
Stix, Helmut - 2019
financial knowledge and are more risk-tolerant than non-owners. Distrust in banks or in conventional currencies is not found to … volatility or the risk of fraud and online theft dampen the demand for crypto-assets. …
Persistent link: https://www.econbiz.de/10013370143
Cover Image
Risky income or lumpy investments? Evidence on two theories of under-specialization
Shenoy, Ajay - 2014
Why do the poor have so many economic activities? According to one theory the poor do not specialize because relying on one income source is risky. I test the theory by measuring the response of Thai rice farmers to conditional volatility in the international rice price. Households expecting a...
Persistent link: https://www.econbiz.de/10011406344
Cover Image
Entropy and the value of information for investors
Cabrales, Antonio; Gossner, Olivier; Serrano, Roberto - 2010
, regardless of his preferences, initial wealth or investment problem. It is also shown that no prior-independent informativeness …
Persistent link: https://www.econbiz.de/10010284049
Cover Image
The appeal of information transactions
Cabrales, Antonio; Gossner, Olivier; Serrano, Roberto - 2012
An information transaction entails the purchase of information. Formally, it consists of an information structure together with a price. We develop an index of the appeal of information transactions, which is derived as a dual to the agent's preferences for information. The index of information...
Persistent link: https://www.econbiz.de/10010420275
Cover Image
Deciding to decide: gender, leadership and risk-taking in groups
Ertac, Seda; Gurdal, Mehmet Yigit - 2010
willingness of men and women to make risky decisions on behalf of a group, (2) the amount of risk men and women take for the group … lower fraction of women being willing to make the group decision than men. The amount of risk taken for the group is … like to make the group decision and the women that do not are no different in terms of how much risk they take for …
Persistent link: https://www.econbiz.de/10010274088
Cover Image
Preferences regarding road transports of hazardous materials using choice experiments - any sign of biases?
Hiselius, Lena Winslott - 2005
used as a proxy for changes in accident risk. The results are analysed in the light of an earlier study on transports of …
Persistent link: https://www.econbiz.de/10013208485