"One Country, Two Systems" is the policy that will guide China's recent resumption of sovereignty over Hong Kong. In examining howpeople categorise capitalism by using Hong Kong/China as one of the paired stimuli, results show that there is a significant difference between the Chinese sample and...

Although previous studies of consumer choice have found that common features of alternatives are cancelled and that choices are based only on unique features, a recent study has suggested that common features are canceled only when they are irrelevant in regard to all unique features. The...

The present research on risky decision making extends the exploration of the singleplay/multiple-play distinction. Mathematics students are asked to respond to two choice problems, each having three decision tasks: choosing between multiple-play gambles, choosing between single-play gambles and...

This study investigated the emotional response in a disjunction condition. Participants were presented with a hypothetical three-condition scenario in which they imagined that they had submitted their application for admission to two universities. In the two conditions of certainty, the...

This research extends the exploration of single-play/multiple-play distinctions from monetary gambling paradigm to emergency management situation. We conducted three studies (two survey studies and one eye tracking study) to test whether an emergency plan we formulated in advance based on...

In this paper, we consider a risk model which allows the insurer to partially reflect the recent claim experience in the determination of the next period’s premium rate. In a ruin context, similar mechanisms to the one proposed in this paper have been studied by, e.g., Tsai and Parker (2004),...

In this paper, we propose a new drawdown-based regime-switching (DBRS) Lévy insurance model in which the underlying drawdown process is used to model an insurer’s level of financial distress over time, and to trigger regime-switching transitions. By some analytical arguments, we derive...

Similar to research on risky choice, the traditional analysis of intertemporal choice takes the view that an individual behaves so as to maximize the discounted sum of all future utilities. The well-known Allais paradox contradicts the fundamental postulates of maximizing the expected value or...

A weighting or a rank‐dependent weighting function was used by revamped models of risky choice to explain that Allais Paradox arises because people behave so as to maximize overall value rather than EU. The risky choice behavior was, however, simply seen by the equate‐to‐differentiate...