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Investment timing in presence of downside risk: a certainty equivalent characterization

✍ Scribed by Luis H. R. Alvarez; Teppo A. Rakkolainen

Publisher: Springer
Year: 2008
Tongue: English
Weight: 259 KB
Volume: 6
Category: Article
ISSN: 1614-2446
DOI: 10.1007/s10436-008-0100-z

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Three reasons for why people may evaluate utility in a rank-dependent fashion have been suggested: (a) rank-dependent weighting is a function of perceptual biases and thus not prescriptively defensible; (b) weights are (re)distributed by motivational processes that reflect stable personality charact