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Dynamic consistency, valuable information and subjective beliefs
16 references·1 citing·34 second hop
Dynamic consistency, valuable information and subjective beliefs (2021)Dynamic consistency, valuable information…Ambiguity Aversion, Robustness, and the Variational Representation of Preferences (2006)Ambiguity Aversion, Robustnes…A Smooth Model of Decision Making under Ambiguity (2005)A Smooth Model of Decision Ma…Subjective probability and expected utility without additivity (2004)Subjective probability and ex…Differentiating ambiguity and ambiguity attitude (2004)Differentiating ambiguity and…Recursive multiple-priors (2003)Recursive multiple-priorsThe Power of Suggestion: Inertia in 401(k) Participation and Savings Behavior (2001)The Power of Suggestion: Iner…Robust Control and Model Uncertainty (2001)Robust Control and Model Unce…Subjective Probability and Expected Utility without Additivity (1989)Subjective Probability and Ex…Maxmin expected utility with non-unique prior (1989)Maxmin expected utility with …Dynamic Consistency and Non-expected Utility Models of Choice under Uncertainty (1989)Dynamic Consistency and Non-e…Status quo bias in decision making (1988)Status quo bias in decision m…Information, trade and common knowledge (1982)Information, trade and common…A Representation Theorem for "Preference for Flexibility" (1979)A Representation Theorem for …The Private and Social Value of Information and the Reward to Inventive Activity (1978)The Private and Social Value …Risk, Ambiguity, and the Savage Axioms (1961)Risk, Ambiguity, and the Sava…Liquidity Preference as Behavior Towards Risk (1958)Liquidity Preference as Behav…Updating variational (Bewley) preferences (2021)Updating variational (Bewley)…Dictionary of American Biography (1945)Higher education as a filter (1973)Optimal contracts and competitive markets with costly state verification (1979)First-mover advantages (1988)The Structure of Scientific Revolutions (1963)Prospect Theory: An Analysis of Decision under Risk (1979)Prospect theory: An analysis of decision under risk (1988)Loss Aversion in Riskless Choice: A Reference-Dependent Model (1991)A perspective on judgment and choice: Mapping bounded rationality. (2003)Maps of Bounded Rationality: Psychology for Behavioral Economics (2003)Agreeing to Disagree (1976)Bid, ask and transaction prices in a specialist market with heterogeneously informed traders (1985)Herd Behavior and Investment (1988)Noise Trader Risk in Financial Markets (1990)Utility Theory for Decision Making (1971)Recent developments in modeling preferences: Uncertainty and ambiguity (1992)Chapter 18 A survey of behavioral finance (2003)A theory of anticipated utility (1982)The Dual Theory of Choice under Risk (1987)RATIONAL CHOICE AND THE FRAMING OF DECISIONS (1988)Psychology and Economics (1997)Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small and in the Large (1976)Portfolio Selection with Parameter and Model Uncertainty: A Multi-Prior Approach (2006)Risk Aversion in the Laboratory (2008)Sensitivity analysis: A review of recent advances (2015)Judgment under Uncertainty: Heuristics and Biases (1975)The Framing of Decisions and the Psychology of Choice (1981)Doing It Now or Later (1999)The Economic Importance of Financial Literacy: Theory and Evidence (2014)Advances in prospect theory: Cumulative representation of uncertainty (1992)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)
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References

  • 1961Risk, Ambiguity, and the Savage Axioms7,892 cited
  • 1988Status quo bias in decision making5,912 cited
  • 1989Maxmin expected utility with non-unique prior4,063 cited
  • 1958Liquidity Preference as Behavior Towards Risk3,916 cited
  • 2001The Power of Suggestion: Inertia in 401(k) Participation and Savings Behavior2,732 cited
  • 2004Subjective probability and expected utility without additivity2,510 cited
  • 1989Subjective Probability and Expected Utility without Additivity2,308 cited
  • 2005A Smooth Model of Decision Making under Ambiguity1,889 cited
  • 1982Information, trade and common knowledge1,738 cited
  • 1978The Private and Social Value of Information and the Reward to Inventive Activity1,571 cited
  • 2001Robust Control and Model Uncertainty1,349 cited
  • 2006Ambiguity Aversion, Robustness, and the Variational Representation of Preferences1,139 cited
  • 2004Differentiating ambiguity and ambiguity attitude915 cited
  • 2003Recursive multiple-priors868 cited
  • 1989Dynamic Consistency and Non-expected Utility Models of Choice under Uncertainty782 cited
  • 1979

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A Representation Theorem for "Preference for Flexibility"
764 cited

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  • 2021Updating variational (Bewley) preferences3 cited