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Prudence and preference for flexibility gain

Danau, Daniel - 2018

Persistent link: https://www.econbiz.de/10011893871

Stocks as lotteries? : an experimental test of expected utility vs behavioral models

Corgnet, Brice; Kpegli, Yao Thibaut; Magnani, Jacopo - 2025

Persistent link: https://www.econbiz.de/10015337453

Stochastic expected utility and prospect theory in a horse race : a finite mixture approach

Bruhin, Adrian - 2008

This study compares the performance of Prospect Theory versus Stochastic Expected Utility Theory at fitting data on … Allais paradox or the fourfold pattern of risk attitudes. Stochastic Expected Utility Theory parsimoniously extends the … standard microeconomic model, whereas Prospect Theory, the benchmark for aggregate choice so far, is based on psychological …

Persistent link: https://www.econbiz.de/10003894019

Three layers of uncertainty : an experiment

Aydogan, Ilke; Berger, Loϊc; Bosetti, Valentina; Liu, Ning - 2018

We experimentally explore decision-making under uncertainty using a framework that decomposes uncertainty into three distinct layers: (1) physical uncertainty, entailing inherent randomness within a given probability model, (2) model uncertainty, entailing subjective uncertainty about the...

Persistent link: https://www.econbiz.de/10011862952

The impact of ambiguity prudence on insurance and prevention

Berger, Loïc - 2015

Most decisions concerning (self-)insurance and self-protection have to be taken in situations in which a) the effort exerted precedes the moment uncertainty realises, and b) the probabilities of future states of the world are not perfectly known. By integrating these two characteristics in a...

Persistent link: https://www.econbiz.de/10010486991