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A number of recent theoretical studies have explored trading in fragmented markets, e.g. Biais etal. (2000), a phenomenon increasingly witnessed in modern markets. The key assumptiongenerating the results is that there is at least one liquidity demander exploiting access to allmarkets by...
Persistent link: https://www.econbiz.de/10010324853
There are no established benchmarks for evaluating currency investment manager performance. Some analysts have suggested that known investing styles like momentum, purchasing power parity, and carry serve as benchmarks. Challenges for this approach include: there is no market portfolio; there...
Persistent link: https://www.econbiz.de/10010270471
In this article we propose a two stage procedure to model demand decisions by customers who are balancing several dimensions of a product. We then test our procedure by analyzing the behavior of buyers from an Austrian price comparison site. Although in such a market a consumer will typically...
Persistent link: https://www.econbiz.de/10010294006
Contemporary approaches to decision making describe a decision problem by sets of states and outcomes, and a rich set … of acts: functions from states to outcomes over which the decision maker (DM) has preferences. Real problems do not come … decision making, in which the primitive objects of choice are syntactic programs. We show that if the DM's preference relation …
Persistent link: https://www.econbiz.de/10010294014
In this article we propose a two stage procedure to model demand decisions by customers who are balancing several dimensions of a product. We then test our procedure by analyzing the behavior of buyers from an Austrian price comparison site. Although in such a market a consumer will typically...
Persistent link: https://www.econbiz.de/10010294849
which the decision maker has to make some effort in order to avoid mistakes when implementing any desired outcome. The … disutility of this effort enters the decision maker's goal function in an additively separable way. A particular disutility …
Persistent link: https://www.econbiz.de/10010335088
This paper analyses whether freedom of decision as a crucial precondition of normative deci-sion theory is questioned … decision as the necessary basis for handling ethical questions in business practice, rather then as a limitation to this end … plain determination on the one extreme and complete autonomy on the other. It supports the proposition in decision theory …
Persistent link: https://www.econbiz.de/10010427726
A belief operator derived from preferences is presented. It generalizes ‘belief with probability1’ to incomplete preferences and satisfies minimal requirements for belief operators under weak conditions.
Persistent link: https://www.econbiz.de/10010284299
We show how different kinds of belief operators derived from preferences can be defined in terms an accessibility relation of epistemic priority, and characterized by means of a vector of nested accessibility relations. The semantic structure is used to reconcile and compare certain non-standard...
Persistent link: https://www.econbiz.de/10010284443
adaptation. A categorization is introduced that accounts for asymmetries in misprediction. In decision-making, goods and …
Persistent link: https://www.econbiz.de/10011390633