risk strategies. The first effect, reference group sensitivity, is the degree to which decision makers' aspirations are … sensitive to their reference group. In this paper we compare the performances of decision makers with alternative levels of … multiple segregated reference groups. The performance of decision makers residing in a world with one single population is …

Effectuation was first proposed as an expert entrepreneur's decision-making framework under uncertainty, but the … applications of effectuation beyond the condition of uncertainty have seen less attention. Using an agent-based simulation model … simulation overcomes the shortcomings of think aloud protocols typically used in effectuation research. The results suggest that …

We present a stochastic simulation model for estimating forward-looking corporate probability of default and loss given … identify the default condition, and solve the model by Monte Carlo simulation. First, we present the model; then we show how to …

decision making in start-ups. Hypotheses are theoretically developed and tested with data from an empirical investigation of …

Drawing on theories of behavioral decision making and situational strength, we developed and tested a multilevel model …

This paper was prepared for the purpose of presenting the methodology and uses of the Monte Carlo simulation technique … application including investment decision criteria and various measures of risk based on the expected value concept. The final …