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Anomaly in decision making under risk : violation of stochastic dominance among farmers in Gujarat, India
Ranganathan, Thiagu; Gaurav, Sarthak; Singh, Ashish - 2014
Persistent link: https://www.econbiz.de/10010511519
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Stochastic dominance : convexity and some efficiency tests
Lizyayev, Andrey M. - 2009
This paper points out the importance of Stochastic Dominance (SD) efficient sets being convex. We reviewclassic convexity and efficient set characterization results on SD efficiency of a given portfolio relative to adiversified set of assets and generalize them in the following aspects. First,...
Persistent link: https://www.econbiz.de/10011379506
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Stronger utility
Blavatskyy, Pavlo R. - 2011
Persistent link: https://www.econbiz.de/10009544508
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Stronger utility
Blavatskyy, Pavlo R. - 2011
Empirical research often requires a method how to convert a deterministic economic theory into an econometric model. A popular method is to add a random error term on the utility scale. This method, however, violates stochastic dominance. A modification of this method is proposed to avoid...
Persistent link: https://www.econbiz.de/10009740578
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Trust, ambiguity, and financial decision-making
Engle-Warnick, Jim; Pulido, Diego; Montaignac, Marine de - 2016
Persistent link: https://www.econbiz.de/10011525243
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Investment preferences and risk perception : financial agents versus clients
Kling, Luisa; König-Kersting, Christian; Trautmann, … - 2019
We study three fundamental components of financial agency settings: Perception and communication of investment profiles, the interaction of agents’ and clients’ preferences, and the role of (non-)monetary incentives. The perception of investment profile terminology is very heterogeneous,...
Persistent link: https://www.econbiz.de/10012124358
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Portfolio decisions and brain reactions via the CEAD method
Majer, Piotr; Mohr, Peter; Heekeren, Hauke R.; Härdle, … - 2014
Decision making can be a complex process requiring the integration of several attributes of choice options … functional magnetic resonance imaging (fMRI) data from an investment decision (ID) study for ID-related effects. We propose a new … technique for identifying activated brain regions: Cluster, Estimation, Activation and Decision (CEAD) method. Our analysis is …
Persistent link: https://www.econbiz.de/10010379977
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Overconfidence in investment decisions : an experimental approach
Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - 2001
We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute their own for alternative investment choices. Overall, 149 subjects participated in two experiments, one with just one risky asset, the other with two risky assets. Overconfidence...
Persistent link: https://www.econbiz.de/10011408444
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Theoretical asset pricing under behavioral decision making
Vries, Martijn Alexander de - 2022
Persistent link: https://www.econbiz.de/10013263004
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Efficiency, equity, and generalized lorenz dominance
Kleiber, Christian; Kraemer, Walter - 2000
We decompose the generalized Lorenz order into a size and a distribution component. The former is represented by stochastic dominance, the latter by the standard Lorenz order. We show that it is always possible, given generalized Lorenz dominance between two distributions F and G, to find...
Persistent link: https://www.econbiz.de/10009781624