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We propose a model of history dependent disappointment aversion (HDDA), allowing the attitude of a decision-maker (DM) towards disappointment at each stage of a T-stage lottery to evolve as a function of his history of disappointments and elations in prior stages. We establish an equivalence...
Persistent link: https://www.econbiz.de/10008461876
We propose a model of history-dependent risk attitude, allowing a decision maker’s risk attitude to be affected by his history of disappointments and elations. The decision maker recursively evaluates compound risks, classifying realizations as disappointing or elating using a threshold rule....
Persistent link: https://www.econbiz.de/10008462010
Transitioning to the green economy relies on new developments that may negatively affect people's localities and involve certain risks. This study investigates how people form opinions about such developments, using mineral exploration and mining as an example. A representative sample (N=1000)...
Persistent link: https://www.econbiz.de/10013488871
Eye-tracking is becoming a popular testing tool to understand how different forms of asking questions influence respondents' answers. Until now, due to the ease of eye-tracking on PC, this method has almost exclusively been used to test questions in web/PC mode. Our paper extends the application...
Persistent link: https://www.econbiz.de/10009753192
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century. This includesthe definition of equality, a procedure for generating and revising a list ofcentral and valuable …
Persistent link: https://www.econbiz.de/10009354001
Emil Struck (* 1857 Gollnow, † 1897 Greifswald) war seit dem 1.10.1883 als Dozent bzw. seit dem 1.10.1884 als Professor für Nationalökonomie an der Technischen Hochschule Aachen tätig. Zum 1.4.1888 wechselte er an die Universität Greifswald.
Persistent link: https://www.econbiz.de/10009467395
A choice function is \textit{list rational(izable)}, if there is a fixed \textit{list} such that for each \textit{choice … the formulation of list rationality to stochastic choice setup. We say two alternatives are related if the \textit …{stochastic path independence condition} is violated between these alternatives. We show that a random choice function is list rational …
Persistent link: https://www.econbiz.de/10011599578
This article links the development of political and philosophical thought with that of economic thought concerning war and peace issues. The economic orthodoxy that emerged during the 17th century presented human relations as peaceful, society being governed by a 'natural order', the Smithian...
Persistent link: https://www.econbiz.de/10005495988