The aim of this dissertation is the behavioral portfolio selection problem in which risk is measured as the probability of shortfall. Using behavioral elements, such as mental accounting, and emotions and cognition, this dissertation investigates empirical issues related to behavioral asset...

In the past decades, research in behavioral economics, psychology and related domains of the social sciences has analyzed how human behavior systematically deviates from normative models of choice and how the resulting insights into behavioral intervention strategies can be applied across a...