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"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"--National Bureau of Economic Research web site …
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"We present a simple model in which rational but uninformed traders occasionally chase noise as if it were information, thereby amplifying sentiment shocks and moving prices away from fundamental values. We fill a theoretical gap in the literature by showing conditions under which noise traders...
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