Third-Order Risk Preferences and Cumulative Prospect Theory

Language: English

Published by Josef Eul Verlag Gmbh, Josef Eul Verlag Gmbh Mär 2017, 2017

384410500X / 9783844105001

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This item is printed on demand - Print on Demand Titel. Neuware -There is broad theoretical and empirical evidence that investors exhibit a preference for skewness. However, there is little research regarding the extent to which individuals really favor positive skewness in individual decision making. In this dissertation, a controlled laboratory experiment is used to test for skewness preferences and prudence ¿ a broader third-order risk preference that is closely linked to skewness preferences.Skewness and prudence preferences are further analyzed both within an Expected Utility Theory framework as well as with Cumulative Prospect Theory. For this, a sound experimental setup is used that also excludes any potentially distortionary effects from loss aversion. This dissertation therefore contributes to better understanding of individual risk preferences and other impact factors, such as a more ¿rational¿ vs. a more ¿intuitive¿ decision making process in individual decision making.Books on Demand GmbH, Überseering 33, 22297 Hamburg 248 pp. Englisch.…

Seller Inventory # 9783844105001

Title
Third-Order Risk Preferences and Cumulative Prospect Theory
Author
Michael Borß
Publisher
Josef Eul Verlag Gmbh, Josef Eul Verlag Gmbh Mär 2017
Publication year
2017
Condition
Neu
Binding
Taschenbuch
Language
English
ISBN 10
384410500X
ISBN 13
9783844105001
Item weight
365 grams
Dimensions
210x148x16 mm

buchversandmimpf2000

Emtmannsberg, BAYE, Germany

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