Returns of equities tend to exhibit momentum in the short to medium term and reversals in the longer term. While presenting results partly supporting such findings, we demonstrate that investors rely on multiple reference points in their trading behaviour. In particular it is shown that the...

Returns of equities tend to exhibit momentum in the short to medium term and reversals in the longer term. While presenting results partly supporting such findings, we demonstrate that investors rely on multiple reference points in their trading behaviour. In particular it is shown that the...

An operational model of household activity scheduling is proposed. The model is based on a theory entailing behavioral principles of how persons acquire, represent, and use information from and about the environment. Choices of destinations and departure times are consequences of the scheduling...

When a prominent attribute looms larger in one response procedure than in another, a violation of procedure invariance occurs. A hypothesis based on compatibility between the structure of the input information and the required output was tested as an explanation of this phenomenon. It was also...

Several studies have shown that preference is not necessarily synonymous with choice. In particular, the most preferred object from a set of objects presented in a non-choice context is not necessarily chosen when the same objects are options in a choice situation (Lichtenstein & Slovic, 1971, 1973;...

Previous research has shown that prior outcomes affect choices in an inconsistent way. As a consequence, a prior loss decreased risk seeking among participants at the end of a betting sequence, which is a time when people are believed to be more risk seeking