Die Dissertation wendet die fallgestützte Entscheidungstheorie (Case-Based Decision Theory) vorgeschlagen von Gilboa …The dissertation applies the case-based decision theory proposed by Gilboa and Schmeidler (1995) to financial markets …

elements of the prospect theory developed by Kahneman and Tversky (1979). In addition to consumption, stockholders consider …

coefficients of coskewness and cokurtosis have the correct sign as predicted by the higher-moment CAPM theory but only cokurtosis … size and book-to-market ratio in Chapter 3. This is a cross-sectional test of the conditional CAPM. The models examined …-factor asset pricing models. Models tested are the CAPM, the Fama-French three-factor model and a four-factor model including the …

kernel that depends on returns, as in the CAPM or the APT, can accurately price assets. In this sense, theory based on …Recent developments in intertemporal asset pricing theory focus on two sets of fundamental determinants of asset …, most empirical applications, as well as the best practice in the financial industry, ignore much of what theory has to say …

returns. The finance literature has uncovered several potential failings of the Capital Asset Pricing Model (CAPM). I … investigate the ability of additional risk factors, which are not considered by the CAPM, to explain these problems. In particular … to refine and reassess the cross-sectional evidence against the CAPM.In the first chapter, I test the cross …

Kooperation in einem einmaligen Spiel. Darüber hinaus finden wir keinen Hinweis darauf, dass Risikoaversion ein Faktor ist …