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Illusion of control as a source of poor diversification: Anexperimental approach

Fellner, Gerlinde - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004

This paper investigates factors influencing individual portfolio allocations withparticular focus on the role of illusion of control. By forming their portfolio of tworisky lotteries and one risk-less alternative, subjects are requested to reach a targetinvestment profit, whereby equal...

Persistent link: https://www.econbiz.de/10005866777

Do Individuals Recognize Cascade Behavior of Others? - An Experimental study

Stiehler, Andreas - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003

In a cascade experiment subjects are confronted with artificial predecessors prdecting in line with the BHW model (Bikhchandandi, Hirshleifer and Welch, 1992). Using the BDM mechanism we study subjects' probability assignments based on price limits for participating in the prediction game. We...

Persistent link: https://www.econbiz.de/10005866980

Does Cascade Behavior Reflect Bayesian Updating? - An Experimental Study

Oberhammer, Clemens; Stiehler, Andreas - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003

decision errors. Focusing on stated price limits corresponding to urn predictions in line with both, standard and error BHW …

Persistent link: https://www.econbiz.de/10005866982

Process Commodities:Entwicklung eines Reifegradmodells alsBasis für Outsourcingentscheidungen

Garbe, Gwendolin; Hausen, Tobias - Universität <Koblenz - 2008

Das Thema Outsourcing steht seit langem im Fokus von Theorie und Praxis. In den letztenJahren sind dabei besonders Geschäftsprozesse als Gegenstand der Auslagerung in denMittelpunkt gerückt: Aktuelle Studien (siehe u.a. BITKOM 2005; Gartner 2006; PAC 2006)beschäftigen sich mit dieser speziellen Form...

Persistent link: https://www.econbiz.de/10005867169

Overconfidence in Investment Decisions:An Experimental Approach

Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2001

We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute their own for alternative investment choices.Overall, 149 subjects participated in two experiments, one with just one risky asset, the other with two risky assets. Overconfidence...

Persistent link: https://www.econbiz.de/10005867326

Die Berücksichtigung von Ungewissheit und Risiko in der Investitionsrechnung

Wala, Thomas; Messner, Stephanie - Fachhochschule des BFI Wien - 2005

Der vorliegende Beitrag zeigt auf, welche grundsätzlichen Verfahren eingesetzt werden können,um Investitionsentscheidungen unter Unsicherheit zu treffen.In Kapitel 2 wird mit dem Kapitalwert das wohl grundlegendste Verfahren der Investitionsbeurteilungbeschrieben.Kapitel 3 beschäftigt sich in...

Persistent link: https://www.econbiz.de/10005867389

Denuit, Michel; Eeckhoudt, Louis; Menegatti, Mario - Center for Operations Research and Econometrics … - 2009

In this paper, we consider a décision-maker facing a financial risk flanked by a backgroundrisk, possibly non …-financial, such as health or environmental risk. A decision has to be madeabout the amount of an investment (in the financial … the bivariate increasing concave dominance rules of higherdegrees which express the common preferences of all the decision …

Persistent link: https://www.econbiz.de/10005868655

The Dynamics of Investment and Financing underAsymmetric Information

Morellec, Erwan; Schürhoff, Norman - Swiss National Centre of Competence in Research North … - 2008

This paper develops a tractable real options framework to analyze the eects of asym-metric information on investment and nancing decisions when rms require externalfunds to nance investment. Our analysis shows that corporate insiders can signal theirprivate information to outside investors using...

Persistent link: https://www.econbiz.de/10005868707

Determination of Risk Aversion and Moment-Preferences : A Comparison of Econometric Models

Wenner, Fabian - 2002

The thesis at hand shows how to determine individual risk aversion with different discrete choice models, with gambles and jointly with both methods. The methods developed aim at allocating the investor's free part of wealth.

Persistent link: https://www.econbiz.de/10005844428

Heterogeneity of Investors and Asset Pricing in a Risk-Value World

Franke, Günter; Weber, Martin - Universität <Mannheim> / Lehrstuhl für Allgemeine … - 2002

Portfolio choice and the implied asset pricing are usually derived assumingmaximization of expected utility. In this Paper, they are derived from risk-value models that generalize the Markowitz-model. We use a behaviourally-based risk measure with an endogenous or exogenous benchmark...

Persistent link: https://www.econbiz.de/10005844820