Narrow search
Showing 1 - 10 of 272
Cover Image
Loss aversion, risk aversion, and the shape of the probability weighting function
Rablen, Matthew D. - 2023
/tolerant stochastic reference dependence and optimism/pessimism over probability distributions. I give a preference interpretation to …
Persistent link: https://www.econbiz.de/10014292798
Cover Image
Risk Aversion as a Perceptual Bias
Khaw, Mel - 2017
The theory of expected utility maximization (EUM) proposed by Bernoulli explains risk aversion as a consequence of diminishing marginal utility of wealth. However, observed choices between risky lotteries are difficult to reconcile with EUM: for example, in the laboratory, subjects' responses on...
Persistent link: https://www.econbiz.de/10012956867
Cover Image
Risk aversion as a perceptual bias
Khaw, Mel Win; Li, Ziang; Woodford, Michael - 2017
The theory of expected utility maximization (EUM) proposed by Bernoulli explains risk aversion as a consequence of diminishing marginal utility of wealth. However, observed choices between risky lotteries are difficult to reconcile with EUM: for example, in the laboratory, subjects' responses on...
Persistent link: https://www.econbiz.de/10011638247
Cover Image
The Evolution of Our Preferences: Evidence from Capuchin-Monkey Trading Behavior
Chen, M. Keith; Lakshminarayanan, Venkat; Santos, Laurie - Cowles Foundation for Research in Economics, Yale University - 2005
Behavioral economics has demonstrated systematic decision-making biases in both lab and field data. But are these biases learned or innate? We investigate this question using experiments on a novel set of subjects — capuchin monkeys. By introducing a fiat currency and trade to a capuchin...
Persistent link: https://www.econbiz.de/10005087355
Cover Image
Loss Aversion
Blavatskyy, Pavlo R. - 2008
Loss aversion is traditionally defined in the context of lotteries over monetary payoffs. This paper extends the notion of loss aversion to a more general setup where outcomes (consequences) may not be measurable in monetary terms and people may have fuzzy preferences over lotteries, i.e. they...
Persistent link: https://www.econbiz.de/10014216964
Cover Image
Cognition, optimism and the formation of age-dependent survival beliefs
Grevenbrock, Nils; Groneck, Max; Ludwig, Alexander; … - 2020
-shaped probability weighting functions. Our estimates suggest that implied measures for cognitive weakness increase and relative optimism … decrease with age. We document that direct measures of cognitive weakness and optimism share these trends. Our regression … finding is that cognitive weakness rather than optimism is an increasingly important contributor to the well …
Persistent link: https://www.econbiz.de/10012303266
Cover Image
Cognition, optimism and the formation of age-dependent survival beliefs
Grevenbrock, Nils; Groneck, Max; Ludwig, Alexander; … - 2019
-shaped probability weighting functions. Our estimates suggest that implied measures for cognitive weakness and relative pessimism …: cognitive weakness rather than optimism is an increasingly important contributor to overestimation of survival chances in old …
Persistent link: https://www.econbiz.de/10012062116
Cover Image
Eliciting decision weights by adapting de Finetti’s betting-odds method to prospect theory
Diecidue, Enrico; Wakker, Peter; Zeelenberg, Marcel - In: Journal of Risk and Uncertainty 34 (2007) 3, pp. 179-199
Persistent link: https://www.econbiz.de/10005809654
Cover Image
Separating curvature and elevation: A parametric probability weighting function
Abdellaoui, Mohammed; Olivier L’Haridon; Zank, Horst - In: Journal of Risk and Uncertainty 41 (2010) 1, pp. 39-65
Persistent link: https://www.econbiz.de/10008526465
Cover Image
Cognition, optimism and the formation of age-dependent survival beliefs
Grevenbrock, Nils; Groneck, Max; Ludwig, Alexander; … - 2020
Persistent link: https://www.econbiz.de/10012219145