This paper suggests that changing risk conveys information useful to improve performance.

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.

Die vorliegende Arbeit behandelt Inkonsistenzen in der Unternehmensbewertung durch die geringere Bewertung des Sicherheitsäquivalent unsicherer Einzahlungen als ihr Erwartungswert - hingegen wird das Sicherheitsäquivalent unsicherer Auszahlungen größer als ihr Erwartungswert...

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...

In this paper the authors experimentally test overconfidence in investment decisions by ordering participants the possibility to substitute their own for alternative investment choices.

This paper investigates the robustness of hindsight bias in experimental asset markets, the time invariance of the different experimental risk elicitation methods of certainty equivalents and binary lottery choices, and their correspondence.

This work gives a brief overview of the portfolio selection problem following the mean-risk approach first proposed by Markowitz (1952). We consider various risk measures, i.e. variance, value-at-risk and expected-shortfall and we study the efficient frontiers obtained by solving the portfolio...

This paper compares two prominent empirical measures of individualrisk attitudes | the Holt and Laury (2002) lottery-choice task and the multi-itemquestionnaire advocated by Dohmen, Falk, Human, Schupp, Sunde and Wagner(forthcoming) | with respect to (a) their within-subject stability over time...