When Prospect Theory Meets Consumer Choice Models

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Handbook of the Fundamentals of Financial Decision Making

Author : Leonard C. MacLean
Publisher : World Scientific
ISBN 13 : 9814417351
Total Pages : 941 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis Handbook of the Fundamentals of Financial Decision Making by : Leonard C. MacLean

Download or read book Handbook of the Fundamentals of Financial Decision Making written by Leonard C. MacLean and published by World Scientific. This book was released on 2013 with total page 941 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook in two parts covers key topics of the theory of financial decision making. Some of the papers discuss real applications or case studies as well. There are a number of new papers that have never been published before especially in Part II.Part I is concerned with Decision Making Under Uncertainty. This includes subsections on Arbitrage, Utility Theory, Risk Aversion and Static Portfolio Theory, and Stochastic Dominance. Part II is concerned with Dynamic Modeling that is the transition for static decision making to multiperiod decision making. The analysis starts with Risk Measures and then discusses Dynamic Portfolio Theory, Tactical Asset Allocation and Asset-Liability Management Using Utility and Goal Based Consumption-Investment Decision Models.A comprehensive set of problems both computational and review and mind expanding with many unsolved problems are in an accompanying problems book. The handbook plus the book of problems form a very strong set of materials for PhD and Masters courses both as the main or as supplementary text in finance theory, financial decision making and portfolio theory. For researchers, it is a valuable resource being an up to date treatment of topics in the classic books on these topics by Johnathan Ingersoll in 1988, and William Ziemba and Raymond Vickson in 1975 (updated 2 nd edition published in 2006).

Prospect Theory

Author : Daniel Kahneman
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (53 download)

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Book Synopsis Prospect Theory by : Daniel Kahneman

Download or read book Prospect Theory written by Daniel Kahneman and published by . This book was released on 1979 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Revenue Management and Pricing Analytics

Author : Guillermo Gallego
Publisher : Springer
ISBN 13 : 1493996061
Total Pages : 346 pages
Book Rating : 4.4/5 (939 download)

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Book Synopsis Revenue Management and Pricing Analytics by : Guillermo Gallego

Download or read book Revenue Management and Pricing Analytics written by Guillermo Gallego and published by Springer. This book was released on 2019-08-14 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: “There is no strategic investment that has a higher return than investing in good pricing, and the text by Gallego and Topaloghu provides the best technical treatment of pricing strategy and tactics available.” Preston McAfee, the J. Stanley Johnson Professor, California Institute of Technology and Chief Economist and Corp VP, Microsoft. “The book by Gallego and Topaloglu provides a fresh, up-to-date and in depth treatment of revenue management and pricing. It fills an important gap as it covers not only traditional revenue management topics also new and important topics such as revenue management under customer choice as well as pricing under competition and online learning. The book can be used for different audiences that range from advanced undergraduate students to masters and PhD students. It provides an in-depth treatment covering recent state of the art topics in an interesting and innovative way. I highly recommend it." Professor Georgia Perakis, the William F. Pounds Professor of Operations Research and Operations Management at the Sloan School of Management, Massachusetts Institute of Technology, Cambridge, Massachusetts. “This book is an important and timely addition to the pricing analytics literature by two authors who have made major contributions to the field. It covers traditional revenue management as well as assortment optimization and dynamic pricing. The comprehensive treatment of choice models in each application is particularly welcome. It is mathematically rigorous but accessible to students at the advanced undergraduate or graduate levels with a rich set of exercises at the end of each chapter. This book is highly recommended for Masters or PhD level courses on the topic and is a necessity for researchers with an interest in the field.” Robert L. Phillips, Director of Pricing Research at Amazon “At last, a serious and comprehensive treatment of modern revenue management and assortment optimization integrated with choice modeling. In this book, Gallego and Topaloglu provide the underlying model derivations together with a wide range of applications and examples; all of these facets will better equip students for handling real-world problems. For mathematically inclined researchers and practitioners, it will doubtless prove to be thought-provoking and an invaluable reference.” Richard Ratliff, Research Scientist at Sabre “This book, written by two of the leading researchers in the area, brings together in one place most of the recent research on revenue management and pricing analytics. New industries (ride sharing, cloud computing, restaurants) and new developments in the airline and hotel industries make this book very timely and relevant, and will serve as a critical reference for researchers.” Professor Kalyan Talluri, the Munjal Chair in Global Business and Operations, Imperial College, London, UK.

Drivers and Barriers of Consumer Behavior Regarding New Technologies and Digital Channels

Author : Katja Wagner
Publisher : Springer Nature
ISBN 13 : 3658351500
Total Pages : 257 pages
Book Rating : 4.6/5 (583 download)

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Book Synopsis Drivers and Barriers of Consumer Behavior Regarding New Technologies and Digital Channels by : Katja Wagner

Download or read book Drivers and Barriers of Consumer Behavior Regarding New Technologies and Digital Channels written by Katja Wagner and published by Springer Nature. This book was released on 2021-08-06 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Katja Wagner investigates consumer behavioral intention and interactions with new technologies and digital channels. Due to the fact that the development, spread and sale of these new technologies and digital channels will have a continuous growth and influence in the following years regarding business activities, it is important to take a deeper look in the areas of artificial intelligence and e-commerce. Not only business is affected from these new shifts, but it also impacts consumers’ attitudes, motivation, and practices. So, the evaluation of anthropomorphism and in general, the expectation and motivation of successful acceptance are under review and offer explanations for consumers intentional usage of new technologies. Therefore, six essays address specific phenomena in central subareas of new technologies and digital channels for a more profound understanding of consumers in digital environments.

Neuroeconomics

Author : Paul W. Glimcher
Publisher : Academic Press
ISBN 13 : 0123914698
Total Pages : 606 pages
Book Rating : 4.1/5 (239 download)

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Book Synopsis Neuroeconomics by : Paul W. Glimcher

Download or read book Neuroeconomics written by Paul W. Glimcher and published by Academic Press. This book was released on 2013-08-13 with total page 606 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the years since it first published, Neuroeconomics: Decision Making and the Brain has become the standard reference and textbook in the burgeoning field of neuroeconomics. The second edition, a nearly complete revision of this landmark book, will set a new standard. This new edition features five sections designed to serve as both classroom-friendly introductions to each of the major subareas in neuroeconomics, and as advanced synopses of all that has been accomplished in the last two decades in this rapidly expanding academic discipline. The first of these sections provides useful introductions to the disciplines of microeconomics, the psychology of judgment and decision, computational neuroscience, and anthropology for scholars and students seeking interdisciplinary breadth. The second section provides an overview of how human and animal preferences are represented in the mammalian nervous systems. Chapters on risk, time preferences, social preferences, emotion, pharmacology, and common neural currencies—each written by leading experts—lay out the foundations of neuroeconomic thought. The third section contains both overview and in-depth chapters on the fundamentals of reinforcement learning, value learning, and value representation. The fourth section, "The Neural Mechanisms for Choice, integrates what is known about the decision-making architecture into state-of-the-art models of how we make choices. The final section embeds these mechanisms in a larger social context, showing how these mechanisms function during social decision-making in both humans and animals. The book provides a historically rich exposition in each of its chapters and emphasizes both the accomplishments and the controversies in the field. A clear explanatory style and a single expository voice characterize all chapters, making core issues in economics, psychology, and neuroscience accessible to scholars from all disciplines. The volume is essential reading for anyone interested in neuroeconomics in particular or decision making in general. - Editors and contributing authors are among the acknowledged experts and founders in the field, making this the authoritative reference for neuroeconomics - Suitable as an advanced undergraduate or graduate textbook as well as a thorough reference for active researchers - Introductory chapters on economics, psychology, neuroscience, and anthropology provide students and scholars from any discipline with the keys to understanding this interdisciplinary field - Detailed chapters on subjects that include reinforcement learning, risk, inter-temporal choice, drift-diffusion models, game theory, and prospect theory make this an invaluable reference - Published in association with the Society for Neuroeconomics—www.neuroeconomics.org - Full-color presentation throughout with numerous carefully selected illustrations to highlight key concepts

Handbook of Choice Modelling

Author : Stephane Hess
Publisher : Edward Elgar Publishing
ISBN 13 : 1781003157
Total Pages : 721 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis Handbook of Choice Modelling by : Stephane Hess

Download or read book Handbook of Choice Modelling written by Stephane Hess and published by Edward Elgar Publishing. This book was released on 2014-08-29 with total page 721 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Choice Modelling, composed of contributions from senior figures in the field, summarizes the essential analytical techniques and discusses the key current research issues. The book opens with Nobel Laureate Daniel McFadden calling for d

Greater Good

Author : John A. Quelch
Publisher : Harvard Business Press
ISBN 13 : 1422163679
Total Pages : 339 pages
Book Rating : 4.4/5 (221 download)

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Book Synopsis Greater Good by : John A. Quelch

Download or read book Greater Good written by John A. Quelch and published by Harvard Business Press. This book was released on 2007-12-28 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: Marketing has a greater purpose, and marketers, a higher calling, than simply selling more widgets, according to John Quelch and Katherine Jocz. In Greater Good, the authors contend that marketing performs an essential societal function--and does so democratically. They maintain that people would benefit if the realms of politics and marketing were informed by one another's best principles and practices. Quelch and Jocz lay out the six fundamental characteristics that marketing and democracy share: (1) exchange of value, such as goods, services, and promises, (2) consumption of goods and services, (3) choice in all decisions, (4) free flow of information, (5) active engagement of a majority of individuals, and (6) inclusion of as many people as possible. Without these six traits, both marketing and democracy would fail, and with them, society. Drawing on current and historical examples from economies around the world, this landmark work illuminates marketing's critical role in the development, growth, and governance of societies. It reveals how good marketing practices improve the political process and--in turn--the practice of democracy itself.

Proceedings of the Eighth International Forum on Decision Sciences

Author : Xiang Li
Publisher : Springer Nature
ISBN 13 : 981161380X
Total Pages : 70 pages
Book Rating : 4.8/5 (116 download)

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Book Synopsis Proceedings of the Eighth International Forum on Decision Sciences by : Xiang Li

Download or read book Proceedings of the Eighth International Forum on Decision Sciences written by Xiang Li and published by Springer Nature. This book was released on 2021-04-29 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on selected aspects of the current and upcoming trends in transportation, logistics and decision-making, which comes from the selected articles on the Eighth International Forum on Decision Sciences held in Kunming, China, in 2020. In detail, the included scientific papers analyze the problems and challenges of decision-making under uncertainty, supply chain management, green transportation management, cold chain logistics and intelligent business, especially under the new background of COVID-19. The variety of the papers delivers added value for both scholars and practitioners.

Cambridge International AS/A Level Psychology Revision Guide 2nd edition

Author : David Clarke
Publisher : Hodder Education
ISBN 13 : 1510418237
Total Pages : 275 pages
Book Rating : 4.5/5 (14 download)

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Book Synopsis Cambridge International AS/A Level Psychology Revision Guide 2nd edition by : David Clarke

Download or read book Cambridge International AS/A Level Psychology Revision Guide 2nd edition written by David Clarke and published by Hodder Education. This book was released on 2018-02-26 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exam board: Cambridge Assessment International Education Level: A-level Subject: Psychology First teaching: September 2016 First exams: Summer 2018 Reinforce and practise skills learned with step-by-step support from experts to help you achieve your maximum potential. - Avoid mistakes and common misconceptions with step-by-step support, advice and clarification of key points from an expert author. - Build knowledge of key theories and studies with research summaries and evaluation notes. - Test and consolidate your knowledge with exam-style questions and answers. - Have confidence in your study with end-of-topic questions and answers to enable you to tick off each subject as you complete it, and a revision planner to help pace study.

Prospect Theory

Author : Peter P. Wakker
Publisher : Cambridge University Press
ISBN 13 : 1139489100
Total Pages : 519 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis Prospect Theory by : Peter P. Wakker

Download or read book Prospect Theory written by Peter P. Wakker and published by Cambridge University Press. This book was released on 2010-07-22 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prospect Theory: For Risk and Ambiguity, provides a comprehensive and accessible textbook treatment of the way decisions are made both when we have the statistical probabilities associated with uncertain future events (risk) and when we lack them (ambiguity). The book presents models, primarily prospect theory, that are both tractable and psychologically realistic. A method of presentation is chosen that makes the empirical meaning of each theoretical model completely transparent. Prospect theory has many applications in a wide variety of disciplines. The material in the book has been carefully organized to allow readers to select pathways through the book relevant to their own interests. With numerous exercises and worked examples, the book is ideally suited to the needs of students taking courses in decision theory in economics, mathematics, finance, psychology, management science, health, computer science, Bayesian statistics, and engineering.

Bounded Rational Choice Behaviour

Author : Soora Rasouli
Publisher : Emerald Group Publishing
ISBN 13 : 1784410713
Total Pages : 289 pages
Book Rating : 4.7/5 (844 download)

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Book Synopsis Bounded Rational Choice Behaviour by : Soora Rasouli

Download or read book Bounded Rational Choice Behaviour written by Soora Rasouli and published by Emerald Group Publishing. This book was released on 2015-01-30 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is an attempt to stimulate development in travel behaviour analysis and provide a basic source of reference to the transportation research community. The aim of the book is to give centre stage to some recent innovative approaches to models of bounded rationality, both under conditions of certainty and uncertainty.

A Behavioral Theory of Elections

Author : Jonathan Bendor
Publisher : Princeton University Press
ISBN 13 : 069113507X
Total Pages : 268 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis A Behavioral Theory of Elections by : Jonathan Bendor

Download or read book A Behavioral Theory of Elections written by Jonathan Bendor and published by Princeton University Press. This book was released on 2011-02-06 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most theories of elections assume that voters and political actors are fully rational. This title provides a behavioral theory of elections based on the notion that all actors - politicians as well as voters - are only boundedly rational.

Risk-Taking in International Politics

Author : Rose McDermott
Publisher : University of Michigan Press
ISBN 13 : 9780472087877
Total Pages : 256 pages
Book Rating : 4.0/5 (878 download)

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Book Synopsis Risk-Taking in International Politics by : Rose McDermott

Download or read book Risk-Taking in International Politics written by Rose McDermott and published by University of Michigan Press. This book was released on 2001 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses the way leaders deal with risk in making foreign policy decisions

Choice Matters

Author : Gordon Moore
Publisher : Oxford University Press
ISBN 13 : 0190886145
Total Pages : 265 pages
Book Rating : 4.1/5 (98 download)

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Book Synopsis Choice Matters by : Gordon Moore

Download or read book Choice Matters written by Gordon Moore and published by Oxford University Press. This book was released on 2018-06-19 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: The direct-to-consumer business model has transformed how people seek out goods and services from music to mortgages. So what happens now that the revolution has come for healthcare? While consumers have begun to insist on healthcare that is as convenient and personalized as nearly every other good or service they purchase, most healthcare provider organizations, physicians, and insurance companies remain woefully unprepared to meet this demand. Choice Matters is the healthcare sector's guide to understanding and delivering the brand of consumer-centered care that is an imperative for the Zocdoc age. Drawing on the authors' diverse backgrounds in medicine, business, and public policy, this practically-oriented resource offers an on-the-ground introduction for clinicians and managers to better understand: Â· The differences between healthcare and other consumer-driven markets Â· What factors are most important for consumers in seeking care providers Â· How consumers make decisions about healthcare Â· The system-wide effects of increased consumer choice in healthcare Â· The important distinction between patients and consumers By celebrating the possibilities inherent to consumer-centered healthcare, Choice Matters offers a refreshing, empirically informed take on how healthcare in the United States can flourish, not wither, in the new economy.

Current Trends in Economics

Author : Society for the Advancement of Economic Theory. International Meeting
Publisher : Springer Science & Business Media
ISBN 13 : 9783540653837
Total Pages : 566 pages
Book Rating : 4.6/5 (538 download)

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Book Synopsis Current Trends in Economics by : Society for the Advancement of Economic Theory. International Meeting

Download or read book Current Trends in Economics written by Society for the Advancement of Economic Theory. International Meeting and published by Springer Science & Business Media. This book was released on 1999-02-18 with total page 566 pages. Available in PDF, EPUB and Kindle. Book excerpt: The twenty-nine papers selected for this volume cover topics in cooperative and noncooperative games, social choice and welfare, bargaining, matchings, auctions, mechanism design, general equilibrium, general equilibrium with finance, industrial organization, macroeconomics, and experimental economics. They reflect the diversity and depth of thought and method in economic theory and applications, as shown in the meetings of the Society for the Advancement of Economic Theory (SAET).

Choices, Values, and Frames

Author : Daniel Kahneman
Publisher : Cambridge University Press
ISBN 13 : 1107651069
Total Pages : 864 pages
Book Rating : 4.1/5 (76 download)

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Book Synopsis Choices, Values, and Frames by : Daniel Kahneman

Download or read book Choices, Values, and Frames written by Daniel Kahneman and published by Cambridge University Press. This book was released on 2000-09-25 with total page 864 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the definitive exposition of 'prospect theory', a compelling alternative to the classical utility theory of choice. Building on the 1982 volume, Judgement Under Uncertainty, this book brings together seminal papers on prospect theory from economists, decision theorists, and psychologists, including the work of the late Amos Tversky, whose contributions are collected here for the first time. While remaining within a rational choice framework, prospect theory delivers more accurate, empirically verified predictions in key test cases, as well as helping to explain many complex, real-world puzzles. In this volume, it is brought to bear on phenomena as diverse as the principles of legal compensation, the equity premium puzzle in financial markets, and the number of hours that New York cab drivers choose to drive on rainy days. Theoretically elegant and empirically robust, this volume shows how prospect theory has matured into a new science of decision making.

Transport Survey Methods

Author : Jean-Loup Madre
Publisher : Emerald Group Publishing
ISBN 13 : 1848558457
Total Pages : 662 pages
Book Rating : 4.8/5 (485 download)

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Book Synopsis Transport Survey Methods by : Jean-Loup Madre

Download or read book Transport Survey Methods written by Jean-Loup Madre and published by Emerald Group Publishing. This book was released on 2009-11-02 with total page 662 pages. Available in PDF, EPUB and Kindle. Book excerpt: Identifies various challenges to the world community of transport survey specialists as well as the larger constituency of practitioners, planners, and decision-makers that it serves and provides potential solutions and recommendations for addressing them.