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Despite extensive studies, the nature of risk attitudes remains a vigorously discussed question in economics and psychology. In expected utility theory, attitudes towards risk originate from changes in marginal utility. Cumulative prospect theory (CPT) adds an additional dimension: the weighting...
Persistent link: https://www.econbiz.de/10010294782
Babbar's study (1995) on the application of total quality management (TQM) to educational instruction in US universities has provided the idea for the current experimental study. The purpose of this study is to analyze the effectiveness of TQM implementation in Indonesian higher education...
Persistent link: https://www.econbiz.de/10011938255
In this paper, we experimentally test the Modigliani-Miller theorem. Applying a general equilibrium approach and not allowing for arbitrage among firms with different capital structure, we are able to address a question fundamental to the valuation of firms: does capital structure affect the...
Persistent link: https://www.econbiz.de/10010263892
In the framework of expected utility theory, risk attitudes are entirely captured by the curvature of the utility function. In cumulative prospect theory (CPT) risk attitudes have an additional dimension: the weighting of probabilities. With this modification, one question arises naturally:...
Persistent link: https://www.econbiz.de/10010266643
We experimentally test whether intentional and observable discriminatory pay of symmetric agents in the Winter (2004) game causes low paid agents to reduce effiort. We control for intentionality of wages by either allowing a principal to determine wages or by implementing a random process. Our...
Persistent link: https://www.econbiz.de/10010267082
Economics and management science share the tradition of ordering risk aversion by fitting the best expected utility (EU) model with a certain utility function to individual data, and then using the utility curvature for each individual as the sole index of risk attitude. (Cumulative) Prospect...
Persistent link: https://www.econbiz.de/10010267127
Signaling consumers that the company behind a brand is run by a family is increasingly observable in the marketing realm. One possible reason could be the emotional value signaled by the family nature of the firm. Brand signals carrying emotional value might contribute to a competitive...
Persistent link: https://www.econbiz.de/10014485938
Cumulative Prospect Theory (PT) introduced the weighting of probabilities as an additional component to capture risk attitudes. However, this addition would be a less significant challenge to expected utility theory (EU) if utility curvature and probability weighting showed strong positive...
Persistent link: https://www.econbiz.de/10010281642
In der vorliegenden Studie wird untersucht, inwiefern sich der Einsatz eines spezifischen Zeitfensters bei Survey-Abfragen zum ehrenamtlichen und freiwilligen Engagement - im Vergleich zu Survey-Abfragen mit unspezifischen Zeitfenstern - auf die Selbstangaben von Befragten auswirkt. Die...
Persistent link: https://www.econbiz.de/10012504540
Persistent link: https://www.econbiz.de/10009726249