risk strategies. The first effect, reference group sensitivity, is the degree to which decision makers' aspirations are … sensitive to their reference group. In this paper we compare the performances of decision makers with alternative levels of … multiple segregated reference groups. The performance of decision makers residing in a world with one single population is …

We present a stochastic simulation model for estimating forward-looking corporate probability of default and loss given … identify the default condition, and solve the model by Monte Carlo simulation. First, we present the model; then we show how to …

Drawing on theories of behavioral decision making and situational strength, we developed and tested a multilevel model …

This paper was prepared for the purpose of presenting the methodology and uses of the Monte Carlo simulation technique … application including investment decision criteria and various measures of risk based on the expected value concept. The final …