منابع مشابه
Making Prospect Theory Fit for Finance
This paper gives a survey over a common aspect of prospect theory that occurred to be of importance in a series of recent papers developed by Enrico De Giorgi, Thorsten Hens, Janos Mayer, Haim Levy, Thierry Post, Marc Oliver Rieger and Mei Wang. The common aspect of these papers is that the value function of the prospect theory of Kahneman and Tversky (1979) and similarly that of Tversky and Ka...
متن کاملAn extended hesitant group decision-making technique based on the prospect theory for emergency situations
Throughout the present manuscript, we are going to introduce a novel group emergency decision-making technique in which the application of prospect theory explains the psychological behaviour of the decision maker who is affected by the hesitancy and uncertainty of cognition in decision making problems.\Instead of usual aggregation procedure, we implement here a new fusion technique that ...
متن کاملBehavioral Finance 1.1 Prospect Theory and Decisions under Risk
Financial decisions can only be understood by considering individual behavior and its deviations from rational behavior. Financial markets are based on a multitude of decisions by individuals. Therefore it is only natural that decision theory plays a fundamental role in understanding financial markets. Probably the most important class of financial decisions are decisions under risk. They can b...
متن کاملGrey Situation Group Decision-Making Method Based on Prospect Theory
This paper puts forward a grey situation group decision-making method on the basis of prospect theory, in view of the grey situation group decision-making problems that decisions are often made by multiple decision experts and those experts have risk preferences. The method takes the positive and negative ideal situation distance as reference points, defines positive and negative prospect value...
متن کاملProspect Theory
Prospect theory is a descriptive theory of how individuals choose among risky alternatives. The theory challenged the conventional wisdom that economic decision makers are rational expected utility maximizers. We present a number of empirical demonstrations that are inconsistent with the classical theory, expected utility, but can be explained by prospect theory. We then discuss the prospect th...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Financial Markets and Portfolio Management
سال: 2006
ISSN: 1934-4554,2373-8529
DOI: 10.1007/s11408-006-0019-1