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Risk attitudes and digit ratio (2D:4D): Evidence from prospect theory
Neyse, Levent; Vieider, Ferdinand M.; Ring, Patrick; … - In: Journal of Risk and Uncertainty (2020) 60, pp. 29-51
risk taking, yet results remain inconclusive. We suspect that this is due to difficulty in capturing risk preferences with … expected utility based tasks. Prospect theory, on the other hand, suggests that risk preferences differ between gains, losses … financial risk taking and 2D:4D, a putative marker of prenatal testosterone exposure, in the framework of prospect theory. We …
Persistent link: https://www.econbiz.de/10012245082
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An axiomatic foundation of conditional logit
Breitmoser, Yves - In: Economic Theory 72 (2020) 1, pp. 245-261
This paper considers a decision maker choosing from a set of options when options have multiple real-valued attributes. Assuming DM chooses all options with positive probability, four invariance assumptions are necessary and sufficient for choice probabilities to take McFadden’s conditional...
Persistent link: https://www.econbiz.de/10014504046
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Ranking by rating
Sprumont, Yves - In: Theoretical Economics 13 (2018) 1, pp. 1-18
performances of the remaining items. When performances belong to a finite set, ranking by rating is characterized by separability …. Consistency follows from separability and symmetry or from monotonicity alone. When performances are vectors in R m + , a …
Persistent link: https://www.econbiz.de/10012010017
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Fairness and externalities
Velez, Rodrigo A. - In: Theoretical Economics 11 (2016) 1, pp. 381-410
We study equitable allocation of indivisible goods and money among agents with other-regarding preferences. First, we argue that Foley's (1967) equity test, i.e., the requirement that no agent prefer the allocation obtained by swapping her consumption with another agent, is suitable for our...
Persistent link: https://www.econbiz.de/10011599572
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Repeated interaction and its impact on cooperation and surplus allocation: An experimental analysis
Di Guida, Sibilla; Kirchsteiger, Georg; Lenaerts, Tom; … - In: Games 12 (2021) 1, pp. 1-19
This paper investigates how the possibility of affecting group composition combined with the possibility of repeated interaction impacts cooperation within groups and surplus distribution. We developed and tested experimentally a Surplus Allocation Game where cooperation of four agents is needed...
Persistent link: https://www.econbiz.de/10013200087
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Hierarchical Bayesian analysis of biased beliefs and distributional other-regarding preferences
Aksoy, Ozan; Weesie, Jeroen - In: Games 4 (2013) 1, pp. 66-88
This study investigates the relationship between an actor's beliefs about others' other-regarding (social) preferences and her own other-regarding preferences, using an 'avant-garde' hierarchical Bayesian method. We estimate two distributional other-regarding preference parameters, » and Ø, of...
Persistent link: https://www.econbiz.de/10010369412
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Third-generation prospect theory
Schmidt, Ulrich; Starmer, Chris; Sugden, Robert - In: Journal of Risk and Uncertainty 36 (2008) 3, pp. 203-223
We present a new theory of decision under uncertainty: third-generation prospect theory (PT3). This retains the predictive power of previous versions of prospect theory, but extends that theory by allowing reference points to be uncertain while decision weights are specified in a rank-dependent...
Persistent link: https://www.econbiz.de/10010332930
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Recent trends in the international wine market and arising research questions
Pomarici, Eugenio - In: Wine Economics and Policy 5 (2016) 1, pp. 1-3
Looking at the evolution of international wine trade over the last five years, the reduced growth rate and the varied performance of suppliers raise many research questions, at the micro- and macro-level. At the micro-level, research needs emerge regarding understanding consumer preferences,...
Persistent link: https://www.econbiz.de/10011986525
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What makes firms embrace risks? A risk-taking capability perspective
Tsai, Hsiu-Fen; Luan, Chin-Jung - In: BRQ Business Research Quarterly 19 (2016) 3, pp. 219-231
We adopt a risk-taking capability perspective to study the determinants of risk-taking behavior. We introduce the … concept of “risk-taking capabilities”—absorptive capacity, network resources, and organizational slacks—arguing that … recognition of threat and risk-taking capabilities will influence risk-taking behavior, while the theoretical debate on threat …
Persistent link: https://www.econbiz.de/10012118413
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Keiner will sie haben – Theoretische Ursachen für Immobilienleerstand
Fritzsche, Carolin; Vandrei, Lars - In: Credit and Capital Markets – Kredit und Kapital 47 (2014) 3, pp. 465-483
Leerstand auf dem Markt für Wohnimmobilien kann verschiedene Ursachen haben. In der Literatur gibt es eine Reihe von Ansätzen, um die Zusammenhänge, die zu Leerstand führen, zu beschreiben. In diesem Beitrag werden die grundlegenden Wirkungsmechanismen im Rahmen des Standardmarktmodells, der...
Persistent link: https://www.econbiz.de/10014522222