Why we should quit while we’re ahead: When do averages matter more than sums?
نویسندگان
چکیده
منابع مشابه
Ramadan fasting: Do we need more evidence?
Over a billion of Muslims fast worldwide during Ramadan each year. Through this religious custom, fasting contributes to their health as well as their spiritual growth. However, available evidence regarding the health-benefits of Ramadan fasting is scarce and highly contentious. Although Islam exempts patients from fasting, many fast conceivably, and their clinical condition is prone to deterio...
متن کاملWhy We Should Do Without Concepts
Machery (2009) has proposed that the notion of ‘concept’ ought to be eliminated from the theoretical vocabulary of psychology. I raise three questions about his argument: (1) Is there a meaningful distinction between concepts and background knowledge? (2) Do we need to discard the hybrid view? (3) Are there really categories of things in the world that are the basis for concepts? Although I arg...
متن کاملSmart Growth Why We Discuss It More than We Do It
The Smart Growth vision has a strong intellectual and emotional appeal, compared to more sprawl. However, though some places follow Smart Growth policies, they are outnumbered by those where such policies are commonly discussed but rarely practiced effectively. Why is this the case? Successful implementation requires adopting policies that give up long-established traditions, including local ho...
متن کاملWhen can we do better than autarky?
This paper provides a necessary and sufficient condition for the existence of nonautarkic contract in a risk sharing model with two-sided lack of commitment. Verifying the condition takes just one Gaussian elimination of a matrix. Published by Elsevier B.V.
متن کاملRanking Games and Gambling: When to Quit When You're Ahead
It is common for rewards to be given on the basis of a rank ordering, so that relative performance amongst a cohort is the criterion. In this paper we formulate an equilibrium model in which an agent makes successive decisions on whether or not to gamble and is rewarded on the basis of a rank ordering of final wealth. This is a model of the behaviour of mutual fund managers who are paid dependi...
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: Decision
سال: 2019
ISSN: 2325-9973,2325-9965
DOI: 10.1037/dec0000087