This paper examines the consistency of risk preferences across three decision domains important in most people’s lives: work, health and personal finance. We consider the degree to which the five factor model of personality and a range of factors that influence risk-related decision-making...

The paper investigates the minimum level of individual rationality that is needed for market prices to converge toward their equilibrium level. It does so by examining the theoretical and methodological foundations of the ‘zerointelligence’ (ZI) agent trading approach, with which Gode and...

Purpose – The purpose of this paper is to extend the repertoire of narrative resources relevant in the creation and maintenance of entrepreneurial identity, and to explore the implications for understanding entrepreneurial behaviour. Design/methodology/approach – The empirical research is...

In this article, we presented evidence that people are more risk averse when investing in financial products in the real world than when they make risky choices between gambles in laboratory experiments. In order to provide an account for this discrepancy, we conducted experiments, which showed...

Consumers are often confronted with choices between options that vary in their short and long term benefit, or what we call immediate and delayed utility. This paper describes the marketing implications of what economists and psychologists have learned about how consumers make these choices. The...

The paper was written for the 1st international workshop on complexity and real world applications focusing on using the tools and concepts from the complexity sciences to support real world decision-making activities, Held at Southampton, Uk,in july 2010. what the paper wished to demonstrate...

Despite an apparently thorough ‘due diligence’ process, many mergers and acquisitions (M&A) still fail to meet pre-merger objectives. One of the main contributing factors is insufficient emphasis on post-merger relationships, and the development of an emergent culture to support the new...

Extended warranties are popular but expensive. This paper examines how consumers value these warranties, and asks whether economic considerations alone can account for their popularity. Results from two field surveys show that consumers greatly overestimate both the likelihood and the cost of...

Unrealistic optimism is all around us, and it is a well-documented psychological phenomenon. The purpose of this study is to take a critical approach of the main research done in the area and to analyze the important impact that it has in many economic and managerial contexts. We also analyze...

Both life history theory and demographic transition theory predict that fertility responds to changes in mortality, but there have been relatively few tests which identify links between mortality perceptions and fertility preferences at the individual level. This paper provides an...