In der betriebswirtschaftlichen Realität werden riskante Entscheidungen meistens nach vorherigen Gewinn- oder Verlusterfahrungen getroffen und empirische Beobachtungen legen nahe, dass vorherige derartige Erfahrungen das aktuelle Risikoverhalten beeinflussen. Da dieser Umstand in den...

We study a model that relates dividend payout policy to behavioral issues based on the ideas of mental accounting. A panel analysis across 29 countries and over 43,000 firm-years demonstrates that our model studying the relation between dividends and patience, loss aversion, and ambiguity...

In this dissertation, I propose that, post-action, people tend to be more optimistic about outcomes when their actions were based on malleable (vague) information compared to when their actions were based on unmalleable (precise) information. However, pre-action, no such difference occurs. I...

Firms in a variety of industries offer add-on products to consumers who have previously purchased a base product. We posit that consumers, in making their decisions as to whether to purchase add-ons that complement the base products, find a greater need for the value offered by the add-ons when...

People have the natural tendency to be optimistic and believe that good outcomes in the future are more likely, but also want to avoid overestimation that could result in bad decision-making. Brunnermeier, Brunnermeier and Parker (2005) and Brunnermeier et al. (2007) established an optimal...