We study stock market reactions to large international military conflicts since World War II. Using a news analysis proxy for the estimated likelihood that a conflict will result in a war, we find that an increase in the war likelihood tends to decrease stock prices, but the ultimate outbreak of...

Purpose: The purpose of this paper is to investigate segmentations by finance-related attitudes and behavior of financial consumers in Switzerland and Vietnam. Design/methodology/approach: The authors replicated the questionnaire measuring attitudes toward financial affairs as used in the study...

We demonstrate that in simple 2 X 2 games (cumulative) prospect theory preferences can be evolutionarily stable, i.e. a population of players with prospect theory preferences can not be invaded by more rational players. This holds also if probability weighting is applied to the probabilities of...