Survival versus Profit Maximization in a Dynamic Stochastic Experiment
نویسندگان
چکیده
منابع مشابه
Survival Versus Profit Maximization in a Dynamic Stochastic Experiment∗
Subjects in a laboratory experiment withdraw earnings from a cash reserve evolving according to an arithmetic Brownian motion in near-continuous time. Aggressive withdrawal policies expose subjects to risk of bankruptcy but the policy that maximizes expected earnings need not maximize the odds of survival. When profit maximization is consistent with high rates of survival (HS treatments), subje...
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ژورنال
عنوان ژورنال: Econometrica
سال: 2014
ISSN: 0012-9682
DOI: 10.3982/ecta10751