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Essays in Behavioral and Experimental Economics
Dürsch, Peter - 2010
Chapter IWe use a large-scale internet experiment to explore how subjects learn to play against computers that are … experiment, we separate the demand for punishment in general from a possible demand to conduct punishment personally. Subjects …? In our experiment we observe that the subjects almost never use punishment. Consistently, the data shows no increase in …
Persistent link: https://www.econbiz.de/10009476200
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Ambiguity aversion in the long run: Repeated decisions under risk and uncertainty
Liu, Hsin-Hsien; Colman, Andrew M. - 2009
In two experiments, decision makers chose between risky and ambiguous gambles under conditions of both single (unrepeated) and multiply repeated choices. The gambles were presented either as modified Ellsberg urn choices or as marketing strategy decisions. In both experiments, decision makers...
Persistent link: https://www.econbiz.de/10009474946
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Utility Indifference Pricing of Credit Instruments
Sigloch, Georg - 2009
While the market for credit instruments grew continuously in the decade before 2008, its liquidity has dried up significantly in the current crisis, and investors have become aware of the possible consequences of being exposed to credit risk. In this thesis we address these issues by pricing...
Persistent link: https://www.econbiz.de/10009455297
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INCORPORATING RISK PREFERENCES INTO REAL OPTIONS MODELS
Isik, Murat - 2004
joint effects of risk aversion and irreversibility associated with real investments. It aims at modifying the theory of … shortcomings of the commonly used expected utility and investment under uncertainty models be generalizing the theory of …
Persistent link: https://www.econbiz.de/10009443612
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Four Essays on Debt Securitization and Entrepreneurial Finance
Weber, Thomas - 2008
Chapter 1 is joint work with Günter Franke, University of Konstanz, and Markus Herrmann, HSBC London, and addresses the question how collateralized debt obligation (CDO-) transactions are designed. An important issue is the information asymmetry about the quality of securitized debt between...
Persistent link: https://www.econbiz.de/10009471846
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Bootstrap Markov chain Monte Carlo and optimal solutions for the Law of Categorical Judgment (Corrected)
Kochanski, Greg P; Rosner, Burton S. - 2010
sets simulated for Full Signal Detection Theory and its special cases of standard Signal Detection Theory and Complementary … Signal Detection Theory. …
Persistent link: https://www.econbiz.de/10009441534
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Design of Discrete Auction
Sujarittanonta, Pacharasut - 2010
Chapter 1: Efficient Design of an Auction with Discrete Bid Levels This paper studies one of auction design issues: the choice of bid levels. Full efficiency is generally unachievable with a discrete auction. Since there may be more than one bidder who submits the same bid, the auction cannot...
Persistent link: https://www.econbiz.de/10009450772
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Risk Preferences Beyond Expected Utility Theory: Theoretical and Experimental Approaches
R?ger, Maximilian - 2011
preferences beyond the classical concept of expected utility theory. The thesis contains four main chapters.The first two chapters … dependence compared to classical models of expected utility theory. It is shown that some empirical puzzles concerning … utility theory are met. It is shown that the methodological concerns are empirically relevant when a classification of …
Persistent link: https://www.econbiz.de/10009482308
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Essays in Financial Econometrics
Park, Joon Y. (contributor) - 2009
I consider continuous time asset pricing models with stochastic differential utilityincorporating decision makers' concern with ambiguity on true probability measure.In order to identify and estimate key parameters in the models, I use a novel econometricmethodology developed recently by Park...
Persistent link: https://www.econbiz.de/10009464835
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Ignorance is bliss: the information malleability effect
Mishra, Himanshu Kumar - 2006
. Experiment 1a and 1b demonstrate the IME in a between and within participant design. Experiment 2 demonstrates that … plausible compared to when information is unmalleable. Experiment 3 provides support for the proposed underlying process by …
Persistent link: https://www.econbiz.de/10009466032