We investigate various statistical methods for forecasting risky choices and identify important decision predictors. Subjects (n=44) are presented a series of 50/50 gambles that each involves a potential gain and a potential loss, and subjects can choose to either accept or reject a displayed...

The St. Petersburg paradox is one of the oldest challenges of expected value theory. Thus far, explanations of the paradox aim at small probabilities being perceived as zero and the boundedness of utility of the outcome. This paper provides experimental results showing that neither diminishing...

Die Einführung standardisierter Basisinformationsblätter zu Beginn des Jahres 2018 zielt darauf ab, die Eigenschaften verpackter Anlageprodukte für Kleinanleger/-innen und Versicherungsanlageprodukte (PRIIP) verständlich und vergleichbar zu machen. Die derzeitigen Regulierungsstandards...

Die Einführung standardisierter Basisinformationsblätter zu Beginn des Jahres 2018 zielt darauf ab, die Eigenschaften verpackter Anlageprodukte für Kleinanleger/-innen und Versicherungsanlageprodukte (PRIIP) verständlich und vergleichbar zu machen. Die derzeitigen Regulierungsstandards...

Diese Arbeit wurde mit dem Ernst-Zander-Preis 2005 der Ruhr-Universität Bochum ausgezeichnet. Das Supply Chain Design als strategisches Supply Chain Management beinhaltet als wesentlichen Aspekt die Konfiguration der Supply Chain. Dabei sind die über eine Preisminimierung hinausgehenden...

"Will it help me sell more shoes?" - This response by the owner of a shoe factory when asked by a leader in Information Technology about acquiring a new IT device touches upon one of the most important points about IT and companies: should an organization invest in IT? If your answer is "yes",...

We investigate the trade-off between the opportunity costs of decisions and their quality in a simple model. In a lab experiment, we introduce exogenous variation in the opportunity costs of time. Contrary to claims in the previous literature, we show that using more time when making small-stake...

An overview of risk -- Projects and project stakeholders -- Project risk management systems -- Project risk contexts and drivers -- Approaches to risk identification -- Project risk identification tools -- Project risk analysis and evaluation -- Risk response and treatment options -- Risk...

The basics -- Uncertainty -- Risk management -- Risk assessment -- Risk communication -- Enterprise risk management -- Problem identification for risk management -- Brainstorming -- Economics for risk management -- Risk assessor's toolbox -- Art and practice of risk assessment modeling --...

"Is it worth swimming in shark-infested waters to surf a 50-foot, career-record wave? Is it riskier to make an action movie or a horror movie? Should sex workers forfeit 50 percent of their income for added security or take a chance and keep the extra money? Most people wouldn't expect an...

The recent literature on individual and group choices over risk has led to different results. In some studies under unanimity, groups were found to be less risk averse than individuals, while those under majority did not highlight significant differences. However, both the types of studies...