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Testing the ‘standard’ model of stochastic choice under risk
16 references·7 citing·35 second hop
Testing the ‘standard’ model of stochastic choice under risk (2012)Testing the ‘standard’ model of stochasti…Individual Decision Making (2020)Individual Decision MakingHeterogeneity in Risky Choice Behavior in a Broad Population (2011)Heterogeneity in Risky Choice…Risk and Rationality: Uncovering Heterogeneity in Probability Distortion (2010)Risk and Rationality: Uncover…An Experimental Measurement of Utility (2007)An Experimental Measurement o…Developments in Non-Expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk (2000)Developments in Non-Expected …The Handbook of experimental economics (1995)The Handbook of experimental …The Predictive Utility of Generalized Expected Utility Theories (1994)The Predictive Utility of Gen…Investigating Generalizations of Expected Utility Theory Using Experimental Data (1994)Investigating Generalizations…Risk Aversion in the Small and in the Large (1976)Risk Aversion in the Small an…Reversals of preference between bids and choices in gambling decisions. (1971)Reversals of preference betwe…Handbook of Mathematical Psychology (1967)Handbook of Mathematical Psyc…Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…Individual Choice Behavior: A Theoretical Analysis. (1960)Individual Choice Behavior: A…An Experimental Measurement of Utility (1951)An Experimental Measurement o…Theory of Games and Economic Behavior (1946)Theory of Games and Economic …Theory of Games and Economic Behavior (1945)Theory of Games and Economic …MARTER: Markov True and Error model of drifting parameters (2020)MARTER: Markov True and Error…Cognitive Imprecision and Small-Stakes Risk Aversion (2020)Cognitive Imprecision and Sma…Random Deviations Improve Micro–Macro Predictions: An Empirical Test (2017)Random Deviations Improve Mic…Variability, Noise, and Error in Decision Making Under Risk (2015)Variability, Noise, and Error…Testing for independence while allowing for probabilistic choice (2014)Testing for independence whil…Binary choice probabilities on mixture sets (2014)Binary choice probabilities o…Beyond choice: investigating the sensitivity and validity of measures of strength of preference (2013)Beyond choice: investigating …Regret Theory: An Alternative Theory of Rational Choice Under Uncertainty (1982)On the Shape of the Probability Weighting Function (1999)Field Experiments (2004)Eliciting Risk and Time Preferences (2008)Decision Analysis: Introductory Lectures on Choices Under Uncertainty. (1969)Intransitivity of preferences. (1969)Measuring Utility by a Single-Response Sequential Method (1964) (1974)Norm theory: Comparing reality to its alternatives. (1986)Contingent weighting in judgment and choice. (1988)Investor Psychology and Asset Pricing (2001)Prospect Theory: An Analysis of Decision under Risk (1979)The Framing of Decisions and the Psychology of Choice (1981)Prospect theory: An analysis of decision under risk (1988)Risk as feelings. (2001)Time Discounting and Time Preference: A Critical Review (2002)The Adaptive Markets Hypothesis (2004)Collective Action and the Evolution of Social Norms (2000)ERC: A Theory of Equity, Reciprocity, and Competition (2000)Evolutionary games on graphs (2007)Cardinal Welfare, Individualistic Ethics, and Interpersonal Comparisons of Utility (1980)Development of prosocial, individualistic, and competitive orientations: Theory and preliminary evidence. (1997)Political Choice in Britain (2004)Financial Intermediation and Delegated Monitoring (1984)Well-being : the foundations of hedonic psychology (1999)Elimination by aspects: A theory of choice. (1972)Task complexity and contingent processing in decision making: An information search and protocol analysis (1976)Increasing Returns and Path Dependence in the Economy (1994)Representative design and probabilistic theory in a functional psychology. (1955)Features of similarity. (1977)Evolutionary game dynamics (2003)On the measurement of inequality (1970)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)The arbitrage theory of capital asset pricing (1976)Chapter 18 A survey of behavioral finance (2003)Overconfidence and Speculative Bubbles (2003)
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References

  • 1964Risk Aversion in the Small and in the Large4,964 cited
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  • 1945Theory of Games and Economic Behavior4,006 cited
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  • 1960Individual Choice Behavior: A Theoretical Analysis.2,504 cited
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  • 1971Reversals of preference between bids and choices in gambling decisions.1,571 cited
  • 1994Investigating Generalizations of Expected Utility Theory Using Experimental Data1,100 cited
  • 2020Individual Decision Making991 cited
  • 1994The Predictive Utility of Generalized Expected Utility Theories740 cited
  • 1967Handbook of Mathematical Psychology551 cited
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  • 2007An Experimental Measurement of Utility418 cited
  • 2010Risk and Rationality: Uncovering Heterogeneity in Probability Distortion411 cited
  • 2011Heterogeneity in Risky Choice Behavior in a Broad Population

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  • 2014Testing for independence while allowing for probabilistic choice18 cited
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  • 2020MARTER: Markov True and Error model of drifting parameters9 cited
  • 2013Beyond choice: investigating the sensitivity and validity of measures of strength of preference8 cited
  • 2020Cognitive Imprecision and Small-Stakes Risk Aversion1 cited
  • 2014Binary choice probabilities on mixture sets0 cited