Risk Aversion in Experiments
Risk Aversion in Experiments

Author: G.W. Harrison

Publisher: Emerald Group Publishing

Published: 2008-02-29

Total Pages: 449

ISBN-13: 0762313846

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Presents research utilizing laboratory experimental methods in economics.

Handbook of Experimental Economics Results
Handbook of Experimental Economics Results

Author: Charles R. Plott

Publisher: Elsevier

Published: 2008-08-21

Total Pages: 1175

ISBN-13: 0444826424

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While the field of economics makes sharp distinctions and produces precise theory, the work of experimental economics sometimes appears blurred and may produce uncertain results. The contributors to this volume have provided brief notes describing specific experimental results.

Handbook of the Economics of Risk and Uncertainty
Handbook of the Economics of Risk and Uncertainty

Author: Mark Machina

Publisher: Newnes

Published: 2013-11-14

Total Pages: 897

ISBN-13: 0444536868

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The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance Divides coverage between theoretical, empirical, and experimental findings Makes the economics of risk and uncertainty accessible to scholars in fields outside economics

Risk Preferences, Cognitive Ability and Personality
Risk Preferences, Cognitive Ability and Personality

Author: Yue Bao

Publisher: LAP Lambert Academic Publishing

Published: 2013

Total Pages: 180

ISBN-13: 9783659486890

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Risk aversion is the reluctance of a subject who value a certain gain higher than a risky gain, when both have the same expected value, and loss aversion refers to the tendency for a subject dislike a loss more than they favor a gain of the same expected value. This book investigates whether Danes are in general risk and loss averse, and test whether risk and loss aversion are related to cognitive ability, certain personality traits, and some demographics. Key findings: 1) Risk and loss aversion is a realistic characterization of average subjects; 2) The likelihood of being risk averse is affected negatively by background variables such as high salary, high education, and high cognitive reflection ability. However, IQ scores are not significantly related to risk aversion; 3) The possibility of displaying a high degree of risk aversion increases with age; 4) The possibility of being loss averse decreases with increase in salary and age, and it seems no cognitive ability measure is correlated to loss aversion.

Behavioral Finance
Behavioral Finance

Author: H. Kent Baker

Publisher: John Wiley & Sons

Published: 2010-10-01

Total Pages: 1184

ISBN-13: 0470769688

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A definitive guide to the growing field of behavioral finance This reliable resource provides a comprehensive view of behavioral finance and its psychological foundations, as well as its applications to finance. Comprising contributed chapters written by distinguished authors from some of the most influential firms and universities in the world, Behavioral Finance provides a synthesis of the most essential elements of this discipline, including psychological concepts and behavioral biases, the behavioral aspects of asset pricing, asset allocation, and market prices, as well as investor behavior, corporate managerial behavior, and social influences. Uses a structured approach to put behavioral finance in perspective Relies on recent research findings to provide guidance through the maze of theories and concepts Discusses the impact of sub-optimal financial decisions on the efficiency of capital markets, personal wealth, and the performance of corporations Behavioral finance has quickly become part of mainstream finance. If you need to gain a better understanding of this topic, look no further than this book.