probabilities and conditional expected utility generalizes to Cumulative Prospect Theory, as well as updating rules for probability …

equivalent consistency under updating characterise a family of capacities, called Genralised Neo-Additive Capacities (GNAC). This …

investment decisions. After eliciting respondents' initial beliefs about past and future local home price changes, we present a …

We survey retail investors at an online bank to study beliefs about the autocorrelation of aggregate stock returns, and … how these beliefs shape investment decisions measured in administrative account data. Individuals' beliefs exhibit … historically the autocorrelation of aggregate returns was close to zero, which persistently changes their beliefs. Among those …