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UNDER-DIVERSIFICATION AND THE ROLE OF BEST REPLY TO PATTERN
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UNDER-DIVERSIFICATION AND THE ROLE OF BEST REPLY TO PATTERN (2007)UNDER-DIVERSIFICATION AND THE ROLE OF BES…Behavioral Game Theory (2025)Behavioral Game TheoryOut of Sight, Out of Mind: The Effects of Expenses on Mutual Fund Flows* (2005)Out of Sight, Out of Mind: Th…Small feedback‐based decisions and their limited correspondence to description‐based decisions (2003)Small feedback‐based decision…Does Market Experience Eliminate Market Anomalies? (2003)Does Market Experience Elimin…A Review of WTA/WTP Studies (2002)A Review of WTA/WTP StudiesAnomalies: Risk Aversion (2001)Anomalies: Risk AversionAdaptation as Information Restriction: The Hot Stove Effect (2001)Adaptation as Information Res…Experimental Tests of the Endowment Effect and the Coase Theorem (2000)Experimental Tests of the End…Do Investors Trade Too Much? (1999)Do Investors Trade Too Much?The Effect of Myopia and Loss Aversion on Risk Taking: An Experimental Test (1997)The Effect of Myopia and Loss…Measuring Mutual Fund Performance with Characteristic‐Based Benchmarks (1997)Measuring Mutual Fund Perform…Timid Choices and Bold Forecasts: A Cognitive Perspective on Risk Taking (1993)Timid Choices and Bold Foreca…Status quo bias in decision making (1988)Status quo bias in decision m…Prospect Theory: An Analysis of Decision under Risk (1979)Prospect Theory: An Analysis …CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)CAPITAL ASSET PRICES: A THEOR…Liquidity Preference as Behavior Towards Risk (1958)Liquidity Preference as Behav…The Structure of Scientific Revolutions (1963)Prospect theory: An analysis of decision under risk (1988)A perspective on judgment and choice: Mapping bounded rationality. (2003)Maps of Bounded Rationality: Psychology for Behavioral Economics (2003)Judgment under Uncertainty: Heuristics and Biases (1975)Advances in prospect theory: Cumulative representation of uncertainty (1992)Representativeness Revisited: Attribute Substitution in Intuitive Judgment (2002)Toward a positive theory of consumer choice (1980)Loss Aversion in Riskless Choice: A Reference-Dependent Model (1991)Gender and Competition at a Young Age (2004)Risk Aversion in the Laboratory (2008)The behavioralist as tax collector: Using natural field experiments to enhance tax compliance (2017)The Quarterly Journal of Economics (2024)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)Capital markets research in accounting (2001)The Cross‐Section of Volatility and Expected Returns (2006)In Search of Attention (2011)The Pricing of Options and Corporate Liabilities (1973)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Implicit social cognition: Attitudes, self-esteem, and stereotypes. (1995)Toward a theory of customer engagement marketing (2016)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Risk, Return, and Equilibrium: Empirical Tests (1973)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Why Social Preferences Matter – the Impact of non‐Selfish Motives on Competition, Cooperation and Incentives (2002)Evolution of indirect reciprocity (2005)IDENTIFYING SOCIAL NORMS USING COORDINATION GAMES: WHY DOES DICTATOR GAME SHARING VARY? (2013)The Framing of Decisions and the Psychology of Choice (1981)Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance (2007)Investor Psychology and Asset Pricing (2001)The Efficient Market Hypothesis and Its Critics (2003)Who Gambles in the Stock Market? (2009)
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References

  • 1979Prospect Theory: An Analysis of Decision under Risk48,459 cited
  • 1964CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK*19,431 cited
  • 1988Status quo bias in decision making5,912 cited
  • 1958Liquidity Preference as Behavior Towards Risk3,916 cited
  • 2000Experimental Tests of the Endowment Effect and the Coase Theorem2,873 cited
  • 1997Measuring Mutual Fund Performance with Characteristic‐Based Benchmarks2,844 cited
  • 1999Do Investors Trade Too Much?2,245 cited
  • 1993Timid Choices and Bold Forecasts: A Cognitive Perspective on Risk Taking2,041 cited
  • 2025Behavioral Game Theory1,290 cited
  • 2003Does Market Experience Eliminate Market Anomalies?1,182 cited
  • 1997The Effect of Myopia and Loss Aversion on Risk Taking: An Experimental Test1,050 cited
  • 2001Anomalies: Risk Aversion957 cited
  • 2002A Review of WTA/WTP Studies893 cited
  • 2005Out of Sight, Out of Mind: The Effects of Expenses on Mutual Fund Flows*800 cited
  • 2003Small feedback‐based decisions and their limited correspondence to description‐based decisions736 cited
  • 2001

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Adaptation as Information Restriction: The Hot Stove Effect
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