Reference dependence, loss aversion, and risk seeking for losses together comprise the preference-based component of prospect theory that sets its value function apart from the standard risk-aversion model. Using an elasticity analysis, we show that this distinctive preference component serves...

According to John Searle's theory of human ontology, intentional mental states such as beliefs and wants rely on non-intentional, Background, dispositions to produce rational behaviour. The distinction between intentional and non-intentional states is used as the basis on which to understand the...

В статье представлены основы теории поведенческих финансов, главной из которых является теория перспектив Д. Канемана и А. Тверски, определены предпосылки ее...

(paper is in Dutch) This study surveys the behavioural finance literature. It discusses both the literature that incorporates behavioural considerations into rational models, and the literature that concentrates on the role of prospect theory and the effect of cognitive-psychological mechanisms...

The findings of behavioural economics can help guide public policy, particularly regulatory design. While behavioural economics has only recently arisen as a defined discipline, many long-established regulations employed by governments are found to be consistent with the findings of behavioural...

Market orientation has been cited as a source of competitive advantage that allows the firm to construct offerings superior to those of competitors by the effective collection and dissemination of and reaction to market intelligence. Previous work on market orientation has focused on the effort...

This dissertation studies two interesting business cycle issues. Thefirst issue concerns the effectiveness of tax policies in stimulatingan economic recovery. The second issue concerns the costs ofbusiness cycle fluctuations to an investor who chooses to invest inrisky assets. The first essay...

This dissertation studies two interesting business cycle issues. The first issue concerns the effectiveness of tax policies in stimulating an economic recovery. The second issue concerns the costs of business cycle fluctuations to an investor who chooses to invest in risky assets. The first...

The consumption capital asset pricing model is the standard economic model used to capture stock market behavior. However, empirical tests have pointed out to its inability to account quantitatively for the high average rate of return and volatility of stocks over time for plausible parameter...