Third-Order Risk Preferences and Cumulative Prospect Theory - Couverture souple

Borß, Michael

 
9783844105001: Third-Order Risk Preferences and Cumulative Prospect Theory
Couverture souple
ISBN 10 : 384410500X ISBN 13 : 9783844105001
Editeur : Josef Eul Verlag Gmbh, 2017

Synopsis

There is broad theoretical and empirical evidence that investors exhibit a preference for skewness. However, there is little research regarding the extent to which individuals really favor positive skewness in individual decision making. In this dissertation, a controlled laboratory experiment is used to test for skewness preferences and prudence - a broader third-order risk preference that is closely linked to skewness preferences. Skewness and prudence preferences are further analyzed both within an Expected Utility Theory framework as well as with Cumulative Prospect Theory. For this, a sound experimental setup is used that also excludes any potentially distortionary effects from loss aversion. This dissertation therefore contributes to better understanding of individual risk preferences and other impact factors, such as a more "rational" vs. a more "intuitive" decision making process in individual decision making.

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Éditeur
Josef Eul Verlag Gmbh
Date d'édition
2017
Langue
anglais
ISBN 10 
384410500X
ISBN 13 
9783844105001
Reliure
Broché
Nombre de pages
248
Coordonnées du fabricant
non disponible
Personne responsable
info@bod.de
info@bod.de

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