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Evolutionary beliefs and financial markets
Napp, Clotilde; Viossat, Yannick; Jouini, Elyès - Université Paris-Dauphine (Paris IX) - 2013
overconfidence) as well as pessimism (respectively doubt) emerge from the learning process. Furthermore, we obtain a positive … correlation between pessimism (respectively doubt) and risk tolerance. Under reasonable assumptions, beliefs exhibit a pessimistic …
Persistent link: https://www.econbiz.de/10010861623
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Wishful Thinking
Mayraz, Guy - Department of Economics, Faculty of Business and Economics - 2013
This paper presents a model and an experiment, both suggesting that wishful thinking is a pervasive phenomenon that aect decisions large and small. Agents in the model start out with state-dependent payos, and behave as if high-payo states are more likely. Subsequent choices maximize...
Persistent link: https://www.econbiz.de/10010903414
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Cognition, optimism and the formation of age-dependent survival beliefs
Grevenbrock, Nils; Groneck, Max; Ludwig, Alexander; … - 2020
-shaped probability weighting functions. Our estimates suggest that implied measures for cognitive weakness and relative pessimism …
Persistent link: https://www.econbiz.de/10012302575
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Loss Aversion, Risk Aversion, and the Shape of the Probability Weighting Function
Rablen, Matthew D. - 2023
/tolerant stochastic reference dependence and optimism/pessimism over probability distributions. I give a preference interpretation to …
Persistent link: https://www.econbiz.de/10014377465
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Why Do Migrants Stay Unexpectedly? Misperceptions and Implications for Integration
Kaufmann, Marc; Machado, Joël; Verheyden, Bertrand - 2021
characteristics. We show that these conditions involve pessimism about the destination country, either in terms of short-term utility … pessimism. Using the German Socio-Economic Panel, we find that relatively higher pessimism at arrival about future utility and …
Persistent link: https://www.econbiz.de/10012498056
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Why do migrants stay unexpectedly? : misperceptions and implications for integration
Kaufmann, March; Machado, Joël; Verheyden, Bertrand - 2021
characteristics. We show that these conditions involve pessimism about the destination country, either in terms of short-term utility … pessimism. Using the German Socio-Economic Panel, we find that relatively higher pessimism at arrival about future utility and …
Persistent link: https://www.econbiz.de/10012440280
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Cognition, optimism and the formation of age-dependent survival beliefs
Grevenbrock, Nils; Groneck, Max; Ludwig, Alexander; … - 2020
This paper investigates the roles psychological biases play in deviations between subjective survival beliefs (SSBs) and objective survival probabilities (OSPs). We model deviations between SSBs and OSPs through age-dependent inverse S-shaped probability weighting functions. Our estimates...
Persistent link: https://www.econbiz.de/10012303266
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Cognition, optimism and the formation of age-dependent survival beliefs
Grevenbrock, Nils; Groneck, Max; Ludwig, Alexander; … - 2019
-shaped probability weighting functions. Our estimates suggest that implied measures for cognitive weakness and relative pessimism …
Persistent link: https://www.econbiz.de/10012062116
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Loss aversion, risk aversion, and the shape of the probability weighting function
Rablen, Matthew D. - 2023
/tolerant stochastic reference dependence and optimism/pessimism over probability distributions. I give a preference interpretation to …
Persistent link: https://www.econbiz.de/10014292798
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Cognitive Dissonance, Pessimism, and Behavioral Spillover Effects
Dickinson, David L.; Oxoby, Robert J. - Institute for the Study of Labor (IZA) - 2007
pessimism. In stage 1, we induce optimism or pessimism onto subjects by randomly assigning a high or low piece rate for … offers are significantly lower for pessimistic subjects, though this pessimism was generated in a completely unrelated … important - for example, pessimism regarding one’s initial conditions (e.g., living in poverty) may have spillover effects on …
Persistent link: https://www.econbiz.de/10005822246