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Author : John W. Payne
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (222 download)
Download or read book The Relationship of Perceived Risk to Preferences Among Gambles written by John W. Payne and published by . This book was released on 1973* with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : THOMAS EUGENE NYGREN
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (313 download)
Download or read book INDIVIDUAL DIFFERENCES IN THE PERCEPTION OF RISK, PREFERENCE, AND DISSIMILARITY FOR SIMPLE THREE-OUTCOME GAMBLES written by THOMAS EUGENE NYGREN and published by . This book was released on 1975 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Paul Slovic
Publisher : Routledge
ISBN 13 : 1317341112
Total Pages : 563 pages
Book Rating : 4.3/5 (173 download)
Download or read book The Perception of Risk written by Paul Slovic and published by Routledge. This book was released on 2016-10-06 with total page 563 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of risk is an outgrowth of our society's great concern about coping with the dangers of modern life. The Perception of Risk brings together the work of Paul Slovic, one of the world's leading analysts of risk, risk perception and risk management, to examine the gap between expert views of risk and public perceptions. Ordered chronologically, it allows the reader to see the evolution of our understanding of such perceptions, from early studies identifying public misconceptions of risk to recent work that recognizes the importance and legitimacy of equity, trust, power and other value-laden issues underlying public concern.
Author : Petko Kusev
Publisher : Frontiers E-books
ISBN 13 : 2889190560
Total Pages : 69 pages
Book Rating : 4.8/5 (891 download)
Download or read book Human preferences and risky choices written by Petko Kusev and published by Frontiers E-books. This book was released on 2012 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: "There are different views on what preferences for risks are and whether they are indicators of stable, underlying generic cognitive systems. Preferences could be conceived as an attitude towards a set of properties of context, memory and affect - a gauge of how much uncertainty one is willing to tolerate. This Research Topic aims to initiate a discussion on the stability of preferences for risks - as research has shown that different decision domains, response modes, and framing facilitate preference reversals. A consistent claim from behavioural decision researchers is that, contrary to the assumptions of classical economics, preferences are not stable and inherent constructs in individuals but are modified by levels of accessibility in memory, context, decision complexity, and type of psychological processing (e.g., sampling or computational "trade-offs" in processing). For example, in a sampling-based decision-making paradigm it is argued that preferences are not essential for making risky decisions. The existing theoretical and empirical evidence reveals that human preferences are relative and unstable, undermining the predictions of normative theory. Recent theoretical accounts in psychology have expanded the debate further by offering evolutionary models of decision-making under risk. While most of the researcher has explored optimisation goals (traditionally assumed in economics), evolutionary psychology has promoted adaptation-driven processes for risky choices. Moreover, we have witnessed a renaissance of preferences as affect rather than as a construct with psycho-economical properties. Although behavioural decision research is still engaged in challenging the foundation of economic theory, at present, opinions seem less unified as to whether preferences reflect common psychological constructs. The Research Topic will focus on human preferences and risky choices. Topics include: Normative, descriptive and experience-based decision making, Preference reversals, Accessibility in memory, Context dependence, Psychological processing (including i) probabilities, utilities, computations and 'trade-offs', and ii) sampling), Affect, and Evolutionary accounts." -- Provided by publisher.
Author : S. Zionts
Publisher : Springer Science & Business Media
ISBN 13 : 3642463681
Total Pages : 580 pages
Book Rating : 4.6/5 (424 download)
Download or read book Multiple Criteria Problem Solving written by S. Zionts and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this conference was to foster a healthy exchange of ideas and experience in the domain of multiple criteria problem solving. This conference was an outgrowth of an earlier conference I organized with Herve Thiriez at CESA, Jouy-en-Josas, France in 1975 during my stay at the European Institute in Brussels. When I re joined the State University of New York at Buffalo that year, I be gan to search for potential sponsors for this conference. Approxi mately one year later when the prospects began to look promising, I contacted several individuals to act as an informal coordinating committee for the conference. I wanted to avoid biasing the con ference completely to my way of thinking! The members of this committee were Jim Dyer, Peter Fishburn, Ralph Kee. ney, Bernard Roy (Universite de Paris IX Dauphine who was unable to participate in the conference), and Milan Zeleny. Though the committee did not meet, per se, their inputs regarding format, possible participants, number of participants, length of the conference, and so on were of great value to me in planning and organizing the conference. I wish to acknowledge the contributions of this group. We were most fortunate in obtaining the financial support of the European Institute for Advanced Studies in Management, Brussels ยท(one of the sponsors of the Jouy-en-Josas conference), the Office of Naval Research, and the State University of New York at Buffalo.
Author :
Publisher :
ISBN 13 :
Total Pages : 982 pages
Book Rating : 4.:/5 (45 download)
Download or read book Journal of Experimental Psychology written by and published by . This book was released on 1984 with total page 982 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alexander Klos
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (129 download)
Download or read book Investment Decisions and Time Horizon written by Alexander Klos and published by . This book was released on 2011 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: To investigate the effect of time horizon on investment behavior, this paper reports the results of an experiment in which business graduate students provided certainty equivalents and judged various dimensions of the outcome distribution of simple gambles that were played either once or repeatedly for 5 or 50 times. Systematic mistakes in the ex-ante estimations of the distributions of outcomes after (independent) repeated plays were observed. Despite correctly realizing that outcome standard deviation increases with the number of plays, respondents showed evidence of Samuelson's (1963) fallacy of large numbers. Perceived risk judgments showed only low correlations with standard deviation estimates, but were instead related to the anticipated probability of a loss (which was overestimated), mean excess loss, and the coefficient of variation. Implications for future research and practical implications for financial advisors are discussed.
Author : Thomas S. Wallsten
Publisher : Taylor & Francis
ISBN 13 : 1040025560
Total Pages : 299 pages
Book Rating : 4.0/5 (4 download)
Download or read book Cognitive Processes in Choice and Decision Behavior written by Thomas S. Wallsten and published by Taylor & Francis. This book was released on 2024-05-01 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: Decision theory is a uniquely interdisciplinary field of study with contributions from economics, statistics, mathematics, philosophy, operations research, and psychology. The 1970s had seen important changes in research on behavioral decision theory in terms of a shift from a reliance on economic and statistical models to an emphasis on concepts drawn from cognitive psychology. Originally published in 1980, Cognitive Processes in Choice and Decision Behavior contains papers that explore the reasons why these changes had come about and discuss the future directions to which they pointed. It was clear at the time that research in behavioral decision theory was changing dramatically. The chapters in this book represent a good assessment of the reasons the changes were coming about and some of the merits and problems of the directions in which it was moving. Today it can be read in its historical context.
Author :
Publisher : Stanford University Press
ISBN 13 : 0804765073
Total Pages : 540 pages
Book Rating : 4.8/5 (47 download)
Download or read book Risk Taking and Decision Making written by and published by Stanford University Press. This book was released on 1998-02 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risks are an integral part of complex, high-stakes decisions, and decisionmakers are faced with the unavoidable tasks of assessing risks and forming risk preferences. This is true for all decision domains, including financial, environmental, and foreign policy domains, among others. How well decisionmakers deal with risk affects, to a considerable extent, the quality of their decisions. This book provides the most comprehensive analysis available of the elements that influence risk judgments and preferences. The book has two dimensions: theoretical and comparative-historical. The study of risk-taking behavior has been dominated by the rational choice approach. Instead, the author adopts a socio-cognitive approach involving: a multivariate theory integrating contextual, cognitive, motivational, and personality factors that affect an individual decisionmaker's judgment and preferences; the social interaction and structural effects of the decisionmaking group and its organizational setting; and the role of cultural-societal values and norms that sanction or discourage risk taking behavior. The book's theoretical approach is applied and tested in five historical case studies of foreign military interventions. The richly detailed empirical data on the case studies make them, metaphorically speaking, an ideal laboratory for applying a process-tracing approach in studying judgment and decision processes at varying risk levels. The case studies analyzed are: U.S. interventions in Grenada in 1983 and Panama in 1989 (both low risk); Soviet intervention in Czechoslovakia in 1968 (moderate risk): U.S. intervention in Vietnam in 1964-68 (high risk); and Israel's intervention in Lebanon in 1982-83 (high risk).
Author : J. Kozielecki
Publisher : Springer Science & Business Media
ISBN 13 : 9789027710512
Total Pages : 426 pages
Book Rating : 4.7/5 (15 download)
Download or read book Psychological Decision Theory written by J. Kozielecki and published by Springer Science & Business Media. This book was released on 1982-03-31 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stephen K. Reed
Publisher : SAGE Publications
ISBN 13 : 1544392389
Total Pages : 561 pages
Book Rating : 4.5/5 (443 download)
Download or read book Cognition written by Stephen K. Reed and published by SAGE Publications. This book was released on 2022-05-12 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: A classic text for the undergraduate Cognitive Psychology course, Cognition: Theories and Applications, Tenth Edition provides an overview of the origins of this experimental field and makes connections with our current understanding of cognitive processes through deep dives into classic and current research findings.
Author : Sarah Lichtenstein
Publisher : Cambridge University Press
ISBN 13 : 1139457780
Total Pages : 709 pages
Book Rating : 4.1/5 (394 download)
Download or read book The Construction of Preference written by Sarah Lichtenstein and published by Cambridge University Press. This book was released on 2006-08-28 with total page 709 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the main themes that has emerged from behavioral decision research during the past three decades is the view that people's preferences are often constructed in the process of elicitation. This idea is derived from studies demonstrating that normatively equivalent methods of elicitation (e.g., choice and pricing) give rise to systematically different responses. These preference reversals violate the principle of procedure invariance that is fundamental to all theories of rational choice. If different elicitation procedures produce different orderings of options, how can preferences be defined and in what sense do they exist? This book shows not only the historical roots of preference construction but also the blossoming of the concept within psychology, law, marketing, philosophy, environmental policy, and economics. Decision making is now understood to be a highly contingent form of information processing, sensitive to task complexity, time pressure, response mode, framing, reference points, and other contextual factors.
Author : Narayanaswamy Balakrishnan
Publisher : John Wiley & Sons
ISBN 13 : 0470405104
Total Pages : 735 pages
Book Rating : 4.4/5 (74 download)
Download or read book Methods and Applications of Statistics in Business, Finance, and Management Science written by Narayanaswamy Balakrishnan and published by John Wiley & Sons. This book was released on 2010-07-13 with total page 735 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inspired by the Encyclopedia of Statistical Sciences, Second Edition, this volume presents the tools and techniques that are essential for carrying out best practices in the modern business world The collection and analysis of quantitative data drives some of the most important conclusions that are drawn in today's business world, such as the preferences of a customer base, the quality of manufactured products, the marketing of products, and the availability of financial resources. As a result, it is essential for individuals working in this environment to have the knowledge and skills to interpret and use statistical techniques in various scenarios. Addressing this need, Methods and Applications of Statistics in Business, Finance, and Management Science serves as a single, one-of-a-kind resource that guides readers through the use of common statistical practices by presenting real-world applications from the fields of business, economics, finance, operations research, and management science. Uniting established literature with the latest research, this volume features classic articles from the acclaimed Encyclopedia of Statistical Sciences, Second Edition along with brand-new contributions written by today's leading academics and practitioners. The result is a compilation that explores classic methodology and new topics, including: Analytical methods for risk management Statistical modeling for online auctions Ranking and selection in mutual funds Uses of Black-Scholes formula in finance Data mining in prediction markets From auditing and marketing to stock market price indices and banking, the presented literature sheds light on the use of quantitative methods in research relating to common financial applications. In addition, the book supplies insight on common uses of statistical techniques such as Bayesian methods, optimization, simulation, forecasting, mathematical modeling, financial time series, and data mining in modern research. Providing a blend of traditional methodology and the latest research, Methods and Applications of Statistics in Business, Finance, and Management Science is an excellent reference for researchers, managers, consultants, and students in the fields of business, management science, operations research, supply chain management, mathematical finance, and economics who must understand statistical literature and carry out quantitative practices to make smart business decisions in their everyday work.
Author : George Wright
Publisher : Springer Science & Business Media
ISBN 13 : 1461323916
Total Pages : 570 pages
Book Rating : 4.4/5 (613 download)
Download or read book Behavioral Decision Making written by George Wright and published by Springer Science & Business Media. This book was released on 2013-03-11 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John W. Payne
Publisher : Cambridge University Press
ISBN 13 : 9780521425261
Total Pages : 352 pages
Book Rating : 4.4/5 (252 download)
Download or read book The Adaptive Decision Maker written by John W. Payne and published by Cambridge University Press. This book was released on 1993-05-28 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Adaptive Decision Maker argues that people use a variety of strategies to make judgments and choices. The authors introduce a model that shows how decision makers balance effort and accuracy considerations and predicts which strategy a person will use in a given situation. A series of experiments testing the model are presented, and the authors analyse how the model can lead to improved decisions and opportunities for further research.
Author :
Publisher : John Wiley & Sons
ISBN 13 : 0470035498
Total Pages : 2163 pages
Book Rating : 4.4/5 (7 download)
Download or read book Encyclopedia of Quantitative Risk Analysis and Assessment written by and published by John Wiley & Sons. This book was released on 2008-09-02 with total page 2163 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading the way in this field, the Encyclopedia of Quantitative Risk Analysis and Assessment is the first publication to offer a modern, comprehensive and in-depth resource to the huge variety of disciplines involved. A truly international work, its coverage ranges across risk issues pertinent to life scientists, engineers, policy makers, healthcare professionals, the finance industry, the military and practising statisticians. Drawing on the expertise of world-renowned authors and editors in this field this title provides up-to-date material on drug safety, investment theory, public policy applications, transportation safety, public perception of risk, epidemiological risk, national defence and security, critical infrastructure, and program management. This major publication is easily accessible for all those involved in the field of risk assessment and analysis. For ease-of-use it is available in print and online.
Author : Scott Pruysers
Publisher : Frontiers Media SA
ISBN 13 : 288971375X
Total Pages : 108 pages
Book Rating : 4.8/5 (897 download)
Download or read book Political Psychology: The Role of Personality in Politics written by Scott Pruysers and published by Frontiers Media SA. This book was released on 2021-11-05 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
