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Author: Jan-Erik Lönnqvist
Publisher:
ISBN:
Category :
Languages : en
Pages : 22
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Book Description
Author: Jan-Erik Lönnqvist
Publisher:
ISBN:
Category :
Languages : en
Pages : 22
Get Book Here
Book Description
Author: Jan-Erik Lönnqvist
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Jan-Erik Lönnqvist
Publisher:
ISBN:
Category :
Languages : en
Pages : 22
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Book Description
Author: Xiaohao Ding
Publisher:
ISBN:
Category :
Languages : en
Pages : 16
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Book Description
Author: Martina Raue
Publisher: Springer
ISBN: 3319924788
Category : Psychology
Languages : en
Pages : 384
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Book Description
This authoritative collection goes beyond economic statistics and probability data to offer a robust psychological understanding of risk perception and risk taking behavior. Expert contributors examine various risk domains in life, and pinpoint cognitive, emotional, and personality factors contributing to individual differences in risk taking as well as the many nuances social demographics (e.g., culture, gender) bring to risk decisions. Coverage takes competing theories and studies into account to identify mechanisms involved in processing and acting on uncertainty. And implications and applications are demonstrated in varied fields, from updated risk models for the insurance sector to improved risk communication in health services to considering risk perception in policy decisions. A sampling of the topics: Personality and risk: beyond daredevils—risk taking from a temperament perspective. Cognitive, developmental, and neurobiological aspects of risk judgments. The group effect: social influences on risk identification, analysis, and decision-making. Cognitive architectures as a scaffolding for risky choice models. Improving understanding of health-relevant numerical information. Risk culture as a framework for improving competence in risk management. Psychological Perspectives on Risk and Risk Analysis will be of great interest to researchers in and outside of psychology, including decision-making experts and behavioral economists. Additionally, this volume will appeal to practitioners who often have to make risky decisions, such as managers and physicians.
Author: Füllbrunn, Sascha
Publisher: Edward Elgar Publishing
ISBN: 1800372337
Category : Business & Economics
Languages : en
Pages : 451
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Book Description
With an in-depth overview of the past, present and future of the field, The Handbook of Experimental Finance provides a comprehensive analysis of the current topics, methodologies, findings, and breakthroughs in research conducted with the help of experimental finance methodology. Leading experts suggest innovative ways of designing, implementing, analyzing, and interpreting finance experiments.
Author: Zuzana Brokesova
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Thomas Johannes Dohmen
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Xiaohao Ding
Publisher:
ISBN:
Category :
Languages : de
Pages :
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Author: John R. Winter
Publisher:
ISBN:
Category : Risk-taking (Psychology)
Languages : en
Pages : 290
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Book Description
Two direct elicitation of utility (D.E.U.) techniques were used to estimate risk attitudes of a group of agricultural producers. The two elicitation techniques used in the study were 1) an error-in-response model using a modified Ramsey method, and 2) stochastic dominance with respect to a function (SDF). The primary objective of the study was to determine whether the two elicitation techniques yield consistent estimates of risk attitudes. A second major objective of the study was to provide additional information about the distribution of risk attitudes among agricultural producers. The study confirmed the results of other research efforts that the majority of risk attitude parameters of agricultural producers lie within the range -.0001 and .001 with income measured in dollars [King and Robison, 1980]. The study also supports previous research results which indicate that a significant portion of decision makers exhibit risk preferring behavior, at least over some ranges of incomes. The error-in-response model classified 38.1% of the respondents as risk preferring, 47.6% as risk neutral, and 14.3% as risk averse. With only one exception, the SDF technique elicited risk preferring attitudes for every respondent over some range of income values. Individual and aggregate tests for decreasing (increasing) absolute risk aversion were conducted. No respondents were found to exhibit increasing or decreasing absolute risk aversion. The statistical comparison of the two elicitation techniques was inconclusive. A paired t-test failed to reject the null hypothesis of no difference in the estimated risk attitudes. However, the correlation between the two measures was virtually zero ( -.046) suggesting that the two measures of risk attitudes are not closely related. The two elicitation techniques were also compared on other grounds. Both elicitation techniques are designed to prevent certainty bias that has plagued other D.E.U. methods. The SDF technique is found to be superior in overcoming possible interviewer bias. Neither technique is superior in coping with probability bias. The SDF technique is easier to implement but the error-in- response questionnaire is easier to formulate. The error-in- response model results in a specific estimate of the respondent's risk attitude when the negative exponential utility function is used. Based on the comparisons made in the study, the SDF procedure is considered to be superior to the error-in-response model for eliciting risk attitudes.
