Does Prospect Theory Explain Investment Decisions: A Comparative Study
نویسندگان
چکیده
منابع مشابه
Prospect Theory and Information Security Investment Decisions
Most articles that discuss the economics of security focus on the use of rational choice decision models for evaluating investment alternatives. However, security investment decisions involve risk and several researchers have noted that risk related decisions often violate the fundamental principles of rational choice decision models. Accordingly, we assert that problems exist with using these ...
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The disposition effect is the observation that investors hold winning stocks too long and sell losing stocks too early. A standard explanation of the disposition effect refers to prospect theory and in particular to the asymmetric risk aversion according to which investors are risk averse when faced with gains and risk-seeking when faced with losses. We show that for reasonable parameter values...
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We solve a liquidation problem for an agent with preferences consistent with the prospect theory of Kahneman and Tversky (1979). We find that the agent is willing to hold a risky project with a relatively inferior Sharpe ratio if the project is currently making losses, and intends to liquidate it when it breaks even. On the other hand, the agent may liquidate a project with a relatively superio...
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efl/esl textbooks have been regarded as essential language teaching materials with which the learners spend about 70 up to 90 percent of their class time. the important role they play and their vast use make them not only influential in learning the language but also in shaping values and attitudes. put it another way, textbooks socialize learners using their contents (i.e. texts, illustrations...
15 صفحه اولProspect theory, reference points, and health decisions
In preventative health decisions, such as the decision to undergo an invasive screening test or treatment, people may be deterred from selecting the test because its perceived disutility relative to not testing is greater than the utility associated with prevention of possible disease. The prospect theory editing operation, by which a decision maker’s reference point is determined, can have imp...
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ژورنال
عنوان ژورنال: Turk Turizm Arastirmalari Dergisi
سال: 2021
ISSN: 2587-0890
DOI: 10.26677/tr1010.2021.635