before purchase. Using historical and ethnographic data covering half a century, we review the growth of the art investment … alongside practical knowledge about how best to structure investment ventures. Investment venture success has been determined by … distinction between legitimate investments that can be valued and investment venture profitability …

reference points in a Prospect Theory framework. In order to test this explanation, this article applies the method of … experiment in which they had to perform a task over fifteen stages grouped in three blocks or levels. In order to continue … through the experiment, a minimum level of success was required at the end of each level. Rewards were dependent on the final …

' perceived ambiguity have the opposite effect, and lead to less risk-sharing. Entrepreneurs from capital-scarce countries finance … ambiguity, that is, when investors only perceive risk. New facts uncovered from cross-country firm-level data are consistent …

improve. Furthermore, investors with high human capital and high exposure to macroeconomic risk tilt their portfolios away … consistent with the portfolio implications of risk-based theories of the value premium …