This paper develops a model of reference-dependent assessment of subjective beliefs in which loss-averse people optimally choose the expectation as the reference point to balance the current felicity from the optimistic anticipation and the future disappointment from the realisation. The choice...

The motivation value of confidence postulates that individual effort provision is increasing in beliefs on one's own productivity. This relationship also holds for overconfident individuals who have exaggerated productivity beliefs (motivation value of overconfidence). We present first empirical...

In the split delivery vehicle routing problem (SDVRP), a customer's demand can be split among several vehicles. In this article, we review applications of the SDVRP including the routing of helicopters in the North Sea and solution methods such as integer programming and tabu search. We develop...

Increased concern about climate change has led many investors to focus on its effects on portfolio returns. ESG metrics used for analyzing climate risks, however, have been shown to be inconsistent. What would happen if they were used in analyzing the climate risks of portfolios and making...

The motivation value of confidence postulates that individual effort provision is increasing in beliefs on one's own productivity. This relationship also holds for overconfident individuals who have exaggerated productivity beliefs (motivation value of overconfidence). We present first empirical...