Are CEOs expected utility maximizers?
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چکیده
منابع مشابه
Are CEOs expected utility maximizers?
Are individuals expected utility maximizers? This question represents much more than academic curiosity. In a normative sense, at stake are the fundamental underpinnings of the bulk of the last halfcentury’s models of choice under uncertainty. From a positive perspective, the ubiquitous use of benefitcost analysis across government agencies renders the expected utility maximization paradigm lit...
متن کاملAre Ceos Expected Utility Maximizers ?
Are individuals expected utility maximizers? This question represents much more than academic curiosity. In a normative sense, at stake are the fundamental underpinnings of the bulk of the last half-century’s models of choice under uncertainty. From a positive perspective, the ubiquitous use of benefit-cost analysis across government agencies renders the expected utility maximization paradigm l...
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Information security professionals have to assess risk in order to make investment decisions on security measures. To investigate whether professionals make such decisions optimally, we conduct an online experiment and survey measuring risk attitudes of security professionals. Participants were asked to state their willingness-topay to avoid a series of losses-only lotteries and to make choices...
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Assuming the classic contingent claim setting, a number of nancial asset demand tests of Expected Utility have been developed and implemented in experimental settings. However the domain of preferences of these asset demand tests di¤er from the mixture space of distributions assumed in the traditional binary lottery laboratory tests of von Neumann-Morgenstern Expected Utility preferences. We d...
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Intelligent agents often need to assess user utility functions in order to make decisions on their behalf, or predict their behavior. When uncertainty exists over the precise nature of this utility function, one can model this uncertainty using a distribution over utility functions. This view lies at the core of games with incomplete information and, more recently, several proposals for increme...
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ژورنال
عنوان ژورنال: Journal of Econometrics
سال: 2011
ISSN: 0304-4076
DOI: 10.1016/j.jeconom.2009.10.014