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The standard model of rational risky decision-making

Falahati, Kazem - In: Journal of risk and financial management : JRFM 14 (2021) 4, pp. 1-22

Expected utility theory (EUT) is currently the standard framework which formally defines rational decision-making under risky conditions. EUT uses a theoretical device called von Neumann-Morgenstern utility function, where concepts of function and random variable are employed in their...

Persistent link: https://www.econbiz.de/10012520657

Cost of reasoning and strategic Sophistication

Zhao, Wanqun - In: Games 11 (2020) 3/40, pp. 1-27

I designed an experiment to study the persistence of the prevailing levels of reasoning across games. Instead of directly comparing the k-level(s) of reasoning for each game, I used cognitive load to manipulate the strategic environment by imposing variations on the subject's cost of reasoning...

Persistent link: https://www.econbiz.de/10012432226

Risk-averse and self-interested shifts in groups in both median and random rules

Kamijo, Yoshio; Tamura, Teruyuki - In: Games 14 (2023) 1, pp. 1-21

The purpose of this study was to determine whether attitudes toward risk and altruism are affected by being in a group or being alone. In contrast to previous economic research on group decision-making, we excluded the effects of group informal discussions, which are thought to be a "black box"...

Persistent link: https://www.econbiz.de/10014420471

Gender and risk aversion : evidence from a natural experiment

Pacheco, Luís; Lobão, Júlio; Coelho, Sílvia - In: Games 14 (2023) 3, pp. 1-16

The theoretical literature on risk aversion and Expected Utility Theory is extensive; however, the analysis of this behaviour with natural experiments could be more comprehensive. In this paper, we use data from 120 episodes of the Portuguese version of the TV game show The Price is Right, namely...

Persistent link: https://www.econbiz.de/10014426288

Reflections on rationality, utility, university, mass culture and unsustainable society

Śleszyński, Jerzy - In: Central European economic journal 8 (2021) 55, pp. 180-190

now?' written by Tomasz. The subject of my reply is primarily the rationality in general and in the institution of …

Persistent link: https://www.econbiz.de/10012799264

Consumers' rationality and home-grown values for healthy and environmentally sustainable food

Cerroni, Simone; Watson, Verity; Macdiarmid, Jennie I. - In: Bio-based and applied economics 8 (2019) 2, pp. 101-132

Consumers’ food choices often deviate from rationality. This paper explores whether deviations from rationality impact …, inducedvalue elicitation procedures are used to measure subjects’ deviations from rationality. Deviations from rationality are more … subjects in the second-price Vickrey auction. The impact of deviations from rationality is weaker in the discrete choice …

Persistent link: https://www.econbiz.de/10012263861

Examining risk absorption capacity as a mediating factor in the relationship between cognition and neuroplasticity in investors in investment decision making

Behera, Yadav Devi Prasad; Nanda, Sudhansu Sekhar; … - In: International Journal of Financial Studies : open … 10 (2022) 1, pp. 1-16

The encouragement of potential investors who are emotionally broken by past losses and market experiences is crucial to the sustainable flow of funds to the stock market. This can be established by building a knowledge-creating mechanism among investors in their cognitive dimensions, which, in...

Persistent link: https://www.econbiz.de/10013041002

Exploring the other side of innovative managerial decision-making : emotions

Kanzola, Anna-Maria; Papaioannou, Konstantina; … - In: Journal of innovation & knowledge : JIK 9 (2024) 4, pp. 1-11

The strict rational paradigm of neoclassical economic theory has resulted in limited exploration of emotions in managerial decision-making processes. This study attempts to address this gap by examining how emotions influence efficient managerial decision-making, generating a modern perspective...

Persistent link: https://www.econbiz.de/10015177049

Investment behavior and the biased perception of limited loss deduction in income taxation

Fochmann, Martin; Kiesewetter, Dirk; Sadrieh, Abdolkarim - 2010

Persistent link: https://www.econbiz.de/10015206093

The relationship between emotional biases and investment decisions : a meta-analysis

Kumar, Shailendra; Chaurasia, Akash - In: IIMT journal of management 1 (2024) 2, pp. 171-185

Purpose - The study attempts to investigate the relationship between emotional biases (loss aversion bias, overconfidence bias, and regret aversion bias) and investment decisions through a meta-analysis approach. Design/methodology/approach - A meta-correlation analysis was done using sample...

Persistent link: https://www.econbiz.de/10015210434