Narrow search
Showing 1 - 10 of 248
Cover Image
Joint measurement of risk aversion, prudence and temperance
Ebert, Sebastian; Wiesen, Daniel - 2010
We propose a method to measure the intensity of risk aversion, prudence (downside risk aversion) and temperance (outer risk aversion) in experiments. Higher-order risk compensations are defined within the proper risk apportionment model of Eeckhoudt and Schlesinger [American Economic Review, 96...
Persistent link: https://www.econbiz.de/10010293367
Cover Image
An Experimental Test of Precautionary Bidding
Kocher, Martin G.; Pahlke, Julius; Trautmann, Stefan T. - 2010
potentially confounding decision biases. …
Persistent link: https://www.econbiz.de/10010427591
Cover Image
Zikularitätsprobleme in der Unternehmensbewertung
Nippel, Peter - 1997
Alle modernen Verfahren der Unternehmensbewertung basieren auf der Diskontierung von risikobehafteten Größen …
Persistent link: https://www.econbiz.de/10011583020
Cover Image
Zukunftsorientierte Bestimmung von Kapitalkosten für die Unternehmensbewertung
Gebhardt, Günther; Daske, Holger - 2004
Der Bestimmung risikoadäquater Diskontierungssätze kommt bei der Unternehmensbedeutung eine zentrale Bedeutung zu. Wird zu deren Bestimmung in der praktischen Anwendung das CAPM verwendet, gilt es dabei, risikolose Zinssätze und Risikoprämien zu bestimmen, für die erwartete Renditen des...
Persistent link: https://www.econbiz.de/10010263304
Cover Image
A note on the computation of the equity premium and the market value of firm equity
Heer, Burkhard; Maußner, Alfred - 2010
Turnovsky (1995) derives in a continuous-time model of a decentralized economy that the correct specification of the firm's objective function is to maximize the initial value of its outstanding securities. The firm value is the discounted flow of real earnings. For the discrete-time version of...
Persistent link: https://www.econbiz.de/10010275839
Cover Image
Moment characterization of higher-order risk preferences
Ebert, Sebastian - 2010
It is often said that prudence and temperance play key roles in aversion to negative skewness and kurtosis, respectively. This paper puts a new perspective on these relationships and presents a characterization of higher-order risk preferences in terms of statistical moments. An implication is,...
Persistent link: https://www.econbiz.de/10010293372
Cover Image
An Experimental Investigation of Alternatives to Expected Utility Using Pricing Data
Morone, Andrea; Schmidt, Ulrich - 2006
Experimental research on decision making under risk has until now always employed choice data in order to evaluate the …
Persistent link: https://www.econbiz.de/10010296261
Cover Image
Empirical Tests of Intransitivity Predicted by Models of Risky Choice
Birnbaum, Michael H.; Schmidt, Ulrich - 2006
Recently proposed models of risky choice imply systematic violations of transitivity of preference. Five studies explored whether people show patterns of intransitivity predicted by four descriptive models. To distinguish ?true? violations from those produced by ?error,? a model was fit in which...
Persistent link: https://www.econbiz.de/10010296263
Cover Image
Income Distributions versus Lotteries Happiness, Response-Mode Effects, and Preference
Seidl, Christian; Camacho Cuena, Eva; Morone, Andrea - 2003
This paper provides a comparative experimental study of risky prospects (lotteries) and income distributions. The experimental design consisted of multi-outcome lotteries and n-dimensional income distributions arranged in the shapes of ten distributions which were judged in terms of ratings and...
Persistent link: https://www.econbiz.de/10010296309
Cover Image
Optimal choice and beliefs with ex ante savoring and ex post disappointment
Gollier, Christian; Muermann, Alexander - 2006
We propose a new decision criterion under risk in which people extract both utility from anticipatory feelings ex ante … and disutility from disappointment ex post. The decision maker chooses his degree of optimism, given that more optimism … the decision maker takes on less risk compared to an expected utility maximizer. This speaks to the equity premium puzzle …
Persistent link: https://www.econbiz.de/10010298342