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Posterior parietal cortex is causally involved in reward valuation but not in probability weighting during risky choice
16 references·2 citing·41 second hop
Posterior parietal cortex is causally involved in reward valuation but not in probability weighting during risky choice (2023)Posterior parietal cortex is causally inv…Prospect theory reflects selective allocation of attention. (2018)Prospect theory reflects sele…The effect of fast and slow decisions on risk taking (2017)The effect of fast and slow d…How the twain can meet: Prospect theory and models of heuristics in risky choice (2017)How the twain can meet: Prosp…Increasing generosity by disrupting prefrontal cortex (2016)Increasing generosity by disr…Testing process predictions of models of risky choice: a quantitative model comparison approach (2013)Testing process predictions o…Deconstructing risk: Separable encoding of variance and skewness in the brain (2011)Deconstructing risk: Separabl…Testosterone is positively associated with risk taking in the Iowa Gambling Task (2010)Testosterone is positively as…Gender differences in financial risk aversion and career choices are affected by testosterone (2009)Gender differences in financi…Neurobiological studies of risk assessment: A comparison of expected utility and mean-variance approaches (2008)Neurobiological studies of ri…Eliciting Risk and Time Preferences (2008)Eliciting Risk and Time Prefe…Risk Aversion and Incentive Effects (2002)Risk Aversion and Incentive E…A Microeconometric Test of Alternative Stochastic Theories of Risky Choice (2002)A Microeconometric Test of Al…Advances in prospect theory: Cumulative representation of uncertainty (1992)Advances in prospect theory: …Liquidity Preference as Behavior Towards Risk (1958)Liquidity Preference as Behav…PORTFOLIO SELECTION* (1952)PORTFOLIO SELECTION*Portfolio Selection (1952)Portfolio SelectionRapid changes in risk attitudes originate from Bayesian inference on parietal magnitude representations (2026)Rapid changes in risk attitud…Risk preferences causally rely on parietal magnitude representations: Evidence from combined TMS-fMRI (2025)Risk preferences causally rel…Gender differences in risk taking: A meta-analysis. (1999)Beyond the Glass Ceiling: Does Gender Matter? (2011)Why are some STEM fields more gender balanced than others? (2016)The future of sex and gender in psychology: Five challenges to the gender binary. (2018)Judgment under Uncertainty: Heuristics and Biases (1975)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)Individual differences in reasoning: Implications for the rationality debate? (2000)A perspective on judgment and choice: Mapping bounded rationality. (2003)A theory of anticipated utility (1982)The Probability Weighting Function (1998)The Opportunity Criterion: Consumer Sovereignty Without the Assumption of Coherent Preferences (2004)Stochastic models for binary discrete choice under risk: a critical primer and econometric comparison (2008)‘Stochastically more risk averse:’ A contextual theory of stochastic discrete choice under risk (2009)The earth is round (p < .05). (1994)Testosterone and dominance in men (1998)The somatic marker hypothesis: A neural theory of economic decision (2004)Social neuroendocrinology of human aggression: Examining the role of competition-induced testosterone dynamics (2014)Neuromarketing: Ethical Implications of its Use and Potential Misuse (2016)The reality and evolutionary significance of human psychological sex differences (2019)Time Discounting and Time Preference: A Critical Review (2002)The Economics and Psychology of Personality Traits (2008)The economics and psychology of personality traits (2008)Are Risk Aversion and Impatience Related to Cognitive Ability? (2010)Nudge: improving decisions about health, wealth, and happiness (2008)Loss Attitudes in the U.S. Population: Evidence from Dynamically Optimized Sequential Experimentation (DOSE) (2018)Decisions under Risk Are Decisions under Complexity (2024)Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small and in the Large (1976)Oxytocin increases trust in humans (2005)Gender Differences in Preferences (2009)INDIVIDUAL RISK ATTITUDES: MEASUREMENT, DETERMINANTS, AND BEHAVIORAL CONSEQUENCES (2011)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)Conditional value-at-risk for general loss distributions (2002)Optimal Versus Naive Diversification: How Inefficient is the 1/ N Portfolio Strategy? (2007)The relationship between corporate social responsibility and shareholder value: an empirical test of the risk management hypothesis (2008)An intertemporal asset pricing model with stochastic consumption and investment opportunities (1979)The Capital Asset Pricing Model: Theory and Evidence (2004)
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References

  • 1992Advances in prospect theory: Cumulative representation of uncertainty15,457 cited
  • 1952PORTFOLIO SELECTION*13,480 cited
  • 2002Risk Aversion and Incentive Effects5,973 cited
  • 1952Portfolio Selection4,609 cited
  • 1958Liquidity Preference as Behavior Towards Risk3,916 cited
  • 2008Eliciting Risk and Time Preferences1,270 cited
  • 2009Gender differences in financial risk aversion and career choices are affected by testosterone815 cited
  • 2010Testosterone is positively associated with risk taking in the Iowa Gambling Task236 cited
  • 2002A Microeconometric Test of Alternative Stochastic Theories of Risky Choice228 cited
  • 2018Prospect theory reflects selective allocation of attention.122 cited
  • 2008Neurobiological studies of risk assessment: A comparison of expected utility and mean-variance approaches100 cited
  • 2011Deconstructing risk: Separable encoding of variance and skewness in the brain97 cited
  • 2017The effect of fast and slow decisions on risk taking96 cited
  • 2017How the twain can meet: Prospect theory and models of heuristics in risky choice71 cited
  • 2016Increasing generosity by disrupting prefrontal cortex71 cited

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  • 2013Testing process predictions of models of risky choice: a quantitative model comparison approach56 cited
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    • 2026Rapid changes in risk attitudes originate from Bayesian inference on parietal magnitude representations4 cited
    • 2025Risk preferences causally rely on parietal magnitude representations: Evidence from combined TMS-fMRI2 cited