Evolution of time preferences and attitudes toward risk

Consumption-Based Asset Pricing with Recursive Utility

In this paper it has been attempted to investigate the capability of the consumption-based capital asset pricing model (CCAPM), using the general method of moment (GMM), with regard to the Epstien-zin recursive preferences model for Iran's capital market. Generally speaking, recursive utility permits disentangling of the two psychologically separate concepts of risk aversion and elasticity of i...

Measuring and incorporating attitudes toward risk into mathematical programming models : the case of farmers in kavar district iran

Corporate Risk Culture∗

We examine the formation and evolution of corporate risk culture, defined as the preferences towards risk and uncertainty shared by a firm’s leaders, as well as its effect on corporate policies. Commonality in risk attitudes inside the firm arises through the selection of managers and directors with similar attitudes towards risk and uncertainty. Selection also leads to persistence in corporate...

Supplier selection with multi-criteria group decision making based on interval-valued intuitionistic fuzzy sets (case study on a project-based company)

Supplier selection can be considered as a complicated multi criteria decision-making problem.In this paper the problem of supplier selection is studied in the presence of conflicting evaluations and insufficient information about the criteria and different attitudes of decision makers towards the risk. Most of fuzzy approaches used in multi-criteria group decision making (MCGDM) are non-intuiti...

Evolution of Time Preferences and Attitudes Towards Risk

This paper explores a general model of the evolution and adaption of hedonic utility. It is shown that optimal utility will be increasing strongly in regions where choices have to be made often and decision mistakes have a severe impact on fitness. Several applications are suggested. In the context of intertemporal preferences, the model offers an evolutionary explanation for the existence of c...