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Portfolio decisions and brain reactions via the CEAD method
Majer, Piotr; Mohr, Peter; Heekeren, Hauke R.; Härdle, … - 2014
functional magnetic resonance imaging (fMRI) data from an investment decision (ID) study for ID-related effects. We propose a new … choice options and changes in fMRI signal in the anterior insula (aINS) and DMPFC. Additionally, individual differences in …
Persistent link: https://www.econbiz.de/10010379977
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Portfolio Decisions and Brain Reactions Via the CEAD Method
Majer, Piotr - 2016
functional magnetic resonance imaging (fMRI) data from an Investment decision study for stimulus-related effects. We propose a … admits a model-free analysis of the local fMRI signal. Applying a GLM on the DSFM-based time series resulted in a significant … correlation between the risk of choice options and changes in fMRI signal in the anterior insula and dorsomedial prefrontal cortex …
Persistent link: https://www.econbiz.de/10012992806
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Dynamic decision structure and risk taking
Eichberger, Jürgen; Güth, Werner; Müller, Wieland - 1999
This paper investigates the behaviour in repeated decision situations. The experimental study shows that subjects show low or no risk-aversion, but put very high value on the opportunity to sell the lottery in every stage of the decision problem. There is evidence that risk attitudes depend on...
Persistent link: https://www.econbiz.de/10009582412
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Chapter 19 Agent-Based Models and Human Subject Experiments
Duffy, John - In: Handbook of computational economics : volume 2, …, (pp. 949-1011). 2006
This chapter examines the relationship between agent-based modeling and economic decision-making experiments with human subjects. Both approaches exploit controlled “laboratory” conditions as a means of isolating the sources of aggregate phenomena. Research findings from laboratory studies...
Persistent link: https://www.econbiz.de/10014024386
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Temporal Stability of Risk Preference Measures
Straznicka, Katerina - 2013
We examine the temporal stability of risk preference measures obtained by different elicitation methods in a controlled laboratory experiment at two distinct times. Our results indicate remarkable temporal stability of risk measures at the aggregated level and temporal instability at the...
Persistent link: https://www.econbiz.de/10013088897
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Stake Size Effect on Risk Attitudes Under Hypothetical Conditions
Gao, Yue - 2013
One difference between economics experiments and psychology experiments is whether or not paying subjects salient rewards. Some studies only found the stake size effect on risk attitudes in the experiments with salient pays but no such effect in those with small fixed pays. This study examined...
Persistent link: https://www.econbiz.de/10013075526
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Consistency and aggregation in individual choice under uncertainty
Birchby, Jeff; Gigliotti, Gary Anthony; Sopher, Barry - 2013
It is common in studies of individual choice behavior to report averages of the behavior under consideration. In the social sciences the mean is, indeed, often the quantity of interest, but at times focusing on the mean can be misleading. For example, it is well known in labor economics that...
Persistent link: https://www.econbiz.de/10009686480
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Escape from model-land
Thompson, Erica L.; Smith, Leonard A. - 2019
Both mathematical modelling and simulation methods in general have contributed greatly to understanding, insight and forecasting in many fields including macroeconomics. Nevertheless, we must remain careful to distinguish model-land and model-land quantities from the real world. Decisions taken...
Persistent link: https://www.econbiz.de/10012110757
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Augmented AI-Knowledge Driven Intelligent Systems for Adversarial-Dynamic Uncertainty and Complexity
Malhotra, Yogesh - 2023
Goal: ISO 31000 Risk Management (RM) recently re-defined risk as the effect of uncertainty on an organization's ability to meet the objectives. Earlier, it defined risk as a combination of the probability and scope of the (predicted) consequences. The revised ISO Risk advances beyond a static...
Persistent link: https://www.econbiz.de/10014256748
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Waterfall illusion in risky choice : exposure to outcome-irrelevant gambles affects subsequent valuation of risky gambles
Guo, Julie; Tymula, Agnieszka - In: European economic review : EER 139 (2021), pp. 1-16
Persistent link: https://www.econbiz.de/10013270142