Results 251 to 260 of about 449,299 (288)
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International Journal of Industrial Organization, 2001
Abstract In vertical product differentiation with a stochastic research technology, firms should target their research at different quality levels for efficiency. In a natural monopoly where the top firm finds it most profitable to sell to the whole market, the incentives for risk-taking and for firms to differentiate their targeted qualities are ...
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Abstract In vertical product differentiation with a stochastic research technology, firms should target their research at different quality levels for efficiency. In a natural monopoly where the top firm finds it most profitable to sell to the whole market, the incentives for risk-taking and for firms to differentiate their targeted qualities are ...
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Valuation for Risky and Uncertain Choices
2014In this chapter, we describe how risk and ambiguity impact the value of choice options, how this impact can be modelled formally and how it is implemented in the brain. In particular, we give an overview of two distinct ways of how risky choice options can be decomposed – either into outcomes and probabilities as proposed in economics or into ...
Tobler, Philippe N, Weber, Elke U
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2017
When we decide to cross the road, buy a lottery ticket, or invest our money, the decision involves risk and uncertainty. ‘Risky choices’ looks at how economists usually think of risk as quantifiable—in the form of expected utility theory—but behavioural economists challenge this understanding of risk. Daniel Kahneman and Amos Tversky developed prospect
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When we decide to cross the road, buy a lottery ticket, or invest our money, the decision involves risk and uncertainty. ‘Risky choices’ looks at how economists usually think of risk as quantifiable—in the form of expected utility theory—but behavioural economists challenge this understanding of risk. Daniel Kahneman and Amos Tversky developed prospect
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Strength of Preference and Risky Choice
Operations Research, 1982This paper provides conditions under which a utility function under risk can be legitimately interpreted to measure strength of preference between consequences. These conditions require that if a decision maker regards the preference difference between acts a and b to be the same as the preference difference between acts a′ and b′ for every state of ...
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CRITERIA FOR CHOICE AMONG RISKY VENTURES
Journal of Political Economy, 1959The following sections are included:THE SUBGOALSUBGOALS AND SUBJECTIVE UTILITYINDIVIDUAL RISK PREFERENCETHE NEED FOR AN OBJECTIVE ...
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Journal of Mathematical Psychology, 1968
Abstract If a preference relation on a set is a semiorder then the indifference relation is not necessarily transitive. However, if a preference relation on a set of probability distributions is a semiorder and satisfies a simple sure-thing axiom, then indifference is transitive.
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Abstract If a preference relation on a set is a semiorder then the indifference relation is not necessarily transitive. However, if a preference relation on a set of probability distributions is a semiorder and satisfies a simple sure-thing axiom, then indifference is transitive.
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Healthcare Management Forum, 2016
Choices to live “at risk” are complex and challenging and can be structured by organizational policy. Some individuals genuinely wish to live in situations that are, or are perceived to be, high risk because this affords them an important benefit. However, it is likely that these choices are significantly affected by context and might not be made ...
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Choices to live “at risk” are complex and challenging and can be structured by organizational policy. Some individuals genuinely wish to live in situations that are, or are perceived to be, high risk because this affords them an important benefit. However, it is likely that these choices are significantly affected by context and might not be made ...
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Journal of Organizational Behavior
SummaryWe present a novel theoretical framework to explain the impact of rank positions on decision‐makers' choices between more risky and less risky options. We do so by providing an analysis of the motivational effects of ranks that progresses through three levels of specificity: the broad “motive” level, an intermediate “goal” level, and a low level
Hamstra, Melvyn, Higgins, Edward Tory
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SummaryWe present a novel theoretical framework to explain the impact of rank positions on decision‐makers' choices between more risky and less risky options. We do so by providing an analysis of the motivational effects of ranks that progresses through three levels of specificity: the broad “motive” level, an intermediate “goal” level, and a low level
Hamstra, Melvyn, Higgins, Edward Tory
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Background context determines risky choice
2017Both memory and decision processes are strongly influenced by the context in which they occur. Here we examined how fluid these context effects are and whether transient background contexts can influence risky choice in experience-based decision making. We created two separate background contexts within an experimental session by presenting distinctive
Madan, Christopher +2 more
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Journal of Behavioral Decision Making, 2003
AbstractPrevious research on framing effects has largely focused on how choice information framed by external sources influences the response of a decision maker. This research examined how decision makers framed choice options and how the hedonic tone of self‐framing influenced their risk preference.
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AbstractPrevious research on framing effects has largely focused on how choice information framed by external sources influences the response of a decision maker. This research examined how decision makers framed choice options and how the hedonic tone of self‐framing influenced their risk preference.
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