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Preferences under ambiguity without event-separability : conference paper
Borah, Abhinash; Kops, Christopher - 2014
without any such separability restrictions, we are able to uniquely elicit the decision maker's subjective probabilities. The … novel axiom that allows us to do so expresses the idea that at least in the domain of a certain class of acts the decision …
Persistent link: https://www.econbiz.de/10010491097
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An experimental study of precautionary bidding : conference paper
Kocher, Martin; Pahlke, Julius; Trautmann, Stefan T. - 2013
robust when controlling for potentially confounding decision biases. The current study provides the first empirical …
Persistent link: https://www.econbiz.de/10010344662
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Measuring ambiguity aversion : a systematic experimental approach ; conference paper
Krahnen, Jan Pieter; Ockenfels, Peter; Wilde, Christian - 2014
average. Taken together, the results support the view that ambiguity is an important and distinct argument in decision making …
Persistent link: https://www.econbiz.de/10010489289
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Probabilistic risk attitudes and local risk aversion : a paradox
Sadiraj, Vjollca - In: Theory and decision : an international journal for … 77 (2014) 4, pp. 443-454
Persistent link: https://www.econbiz.de/10010487103
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The Foster-Hart measure of riskiness for general gambles : conference paper
Riedel, Frank; Hellmann, Tobias - 2013
Foster and Hart proposed an operational measure of riskiness for discrete random variables. We show that their defining equation has no solution for many common continuous distributions. We show how to extend consistently the definition of riskiness to continuous random variables. For many...
Persistent link: https://www.econbiz.de/10010342818
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Decision making and risk/return optimization in financial economics
AitSahlia, Farid (ed.); Barone-Adesi, Giovanni (ed.);  … - International Finance Conference <9., 2017, Paris> - 2019
Persistent link: https://www.econbiz.de/10012110818
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Decision making with conditional value-at-risk and spectral risk measures : the problem of comparative risk aversion ; conference paper
Brandtner, Mario; Kürsten, Wolfgang - 2014
the one hand, and Ross (1981) on the other hand. The implications for two standard financial decision problems, namely the … widely-applied spectral Arrow-Pratt-measure is not a consistent measure of Arrow-Pratt-risk aversion. A decision maker with a … decision maker with a smaller spectral Arrow-Pratt-measure. We further show how a proper measure of Arrow-Pratt-risk aversion …
Persistent link: https://www.econbiz.de/10010491150
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Arrovian aggregation of MBA preferences : an impossibility result ; conference paper
Herzberg, Frederik - 2013
Cerreia-Vioglio, Ghirardato, Maccheroni, Marinacci and Siniscalchi (Economic Theory, 48:341-375, 2011) have recently axiomatised preferences in the presence of ambiguity as Monotonic Bernoullian Archimedean (MBA) preferences. We investigate the problem of Arrovian aggregation of MBA preferences...
Persistent link: https://www.econbiz.de/10010338890
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Ellsberg games : conference paper
Riedel, Frank; Sass, Linda - 2013 - This version: January 22, 2013
In classic game theory, agents use mixed strategies in the form of objective and probabilistically precise devices to conceal their actions. We introduce the larger set of probabilistically imprecise devices as strategies and study the consequences for the basic results of normal form games....
Persistent link: https://www.econbiz.de/10010342129