Download or read book Prospect Theory written by Peter P. Wakker and published by Cambridge University Press. This book was released on 2010-07-22 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prospect Theory: For Risk and Ambiguity, provides a comprehensive and accessible textbook treatment of the way decisions are made both when we have the statistical probabilities associated with uncertain future events (risk) and when we lack them (ambiguity). The book presents models, primarily prospect theory, that are both tractable and psychologically realistic. A method of presentation is chosen that makes the empirical meaning of each theoretical model completely transparent. Prospect theory has many applications in a wide variety of disciplines. The material in the book has been carefully organized to allow readers to select pathways through the book relevant to their own interests. With numerous exercises and worked examples, the book is ideally suited to the needs of students taking courses in decision theory in economics, mathematics, finance, psychology, management science, health, computer science, Bayesian statistics, and engineering.

Download or read book Prospect Theory written by Daniel Kahneman and published by . This book was released on 1979 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Handbook of the Fundamentals of Financial Decision Making written by Leonard C. MacLean and published by World Scientific. This book was released on 2013 with total page 941 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook in two parts covers key topics of the theory of financial decision making. Some of the papers discuss real applications or case studies as well. There are a number of new papers that have never been published before especially in Part II.Part I is concerned with Decision Making Under Uncertainty. This includes subsections on Arbitrage, Utility Theory, Risk Aversion and Static Portfolio Theory, and Stochastic Dominance. Part II is concerned with Dynamic Modeling that is the transition for static decision making to multiperiod decision making. The analysis starts with Risk Measures and then discusses Dynamic Portfolio Theory, Tactical Asset Allocation and Asset-Liability Management Using Utility and Goal Based Consumption-Investment Decision Models.A comprehensive set of problems both computational and review and mind expanding with many unsolved problems are in an accompanying problems book. The handbook plus the book of problems form a very strong set of materials for PhD and Masters courses both as the main or as supplementary text in finance theory, financial decision making and portfolio theory. For researchers, it is a valuable resource being an up to date treatment of topics in the classic books on these topics by Johnathan Ingersoll in 1988, and William Ziemba and Raymond Vickson in 1975 (updated 2 nd edition published in 2006).

Download or read book Prospective Memory written by Maria A. Brandimonte and published by Psychology Press. This book was released on 2014-02-25 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: Devoted exclusively to prospective memory, this volume organizes the research and thoughts of the important contributors to the field in one comprehensive resource. The chapter authors not only focus on their own work, but also review other research areas and address those where the methods and theories from the retrospective memory literature are useful and where they fall short. Each section is followed by at least one commentary written by a prominent scholar in the field of memory. The commentators present critical analyses of the chapters, note ideas that they found particularly exciting, and use these ideas as a foundation on which to elaborate their own views of prospective memory. This volume will stimulate the thinking of active prospective memory researchers, provide a coherent organization of the area for the increasing number of people who are interested in prospective memory but who are not yet actively conducting research in the area, and serve as a book of readings for upper division seminars.

Download or read book Avoiding Losses taking Risks written by Barbara Farnham and published by University of Michigan Press. This book was released on 1994 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impact of prospect theory on international relations theory

Download or read book Prospect Theory and Foreign Policy Analysis in the Asia Pacific written by Kai He and published by Routledge. This book was released on 2013-01-17 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why does North Korea behave erratically in pursuing its nuclear weapons program? Why did the United States prefer bilateral alliances to multilateral ones in Asia after World War II? Why did China become "nice"—no more military coercion—in dealing with the pro-independence Taiwan President Chen Shuibian after 2000? Why did China compromise in the negotiation of the Chunxiao gas exploration in 2008 while Japan became provocative later in the Sino-Japanese disputes in the East China Sea? North Korea’s nuclear behavior, U.S. alliance strategy, China’s Taiwan policy, and Sino-Japanese territorial disputes are all important examples of seemingly irrational foreign policy decisions that have determined regional stability and Asian security. By examining major events in Asian security, this book investigates why and how leaders make risky and seemingly irrational decisions in international politics. The authors take the innovative step of integrating the neoclassical realist framework in political science and prospect theory in psychology. Their analysis suggests that political leaders are more likely to take risky actions when their vital interests and political legitimacy are seriously threatened. For each case, the authors first discuss the weaknesses of some of the prevailing arguments, mainly from rationalist and constructivist theorizing, and then offer an alternative explanation based on their political legitimacy-prospect theory model. This pioneering book tests and expands prospect theory to the study of Asian security and challenges traditional, expected-utility-based, rationalist theories of foreign policy behavior.

Download or read book No Future written by Lee Edelman and published by Duke University Press. This book was released on 2004-12-06 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this searing polemic, Lee Edelman outlines a radically uncompromising new ethics of queer theory. His main target is the all-pervasive figure of the child, which he reads as the linchpin of our universal politics of “reproductive futurism.” Edelman argues that the child, understood as innocence in need of protection, represents the possibility of the future against which the queer is positioned as the embodiment of a relentlessly narcissistic, antisocial, and future-negating drive. He boldly insists that the efficacy of queerness lies in its very willingness to embrace this refusal of the social and political order. In No Future, Edelman urges queers to abandon the stance of accommodation and accede to their status as figures for the force of a negativity that he links with irony, jouissance, and, ultimately, the death drive itself. Closely engaging with literary texts, Edelman makes a compelling case for imagining Scrooge without Tiny Tim and Silas Marner without little Eppie. Looking to Alfred Hitchcock’s films, he embraces two of the director’s most notorious creations: the sadistic Leonard of North by Northwest, who steps on the hand that holds the couple precariously above the abyss, and the terrifying title figures of The Birds, with their predilection for children. Edelman enlarges the reach of contemporary psychoanalytic theory as he brings it to bear not only on works of literature and film but also on such current political flashpoints as gay marriage and gay parenting. Throwing down the theoretical gauntlet, No Future reimagines queerness with a passion certain to spark an equally impassioned debate among its readers.

Download or read book Risk Taking in International Politics written by Rose McDermott and published by University of Michigan Press. This book was released on 2001 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses the way leaders deal with risk in making foreign policy decisions

Download or read book From Optimal Tax Theory to Tax Policy written by Robin Boadway and published by MIT Press. This book was released on 2012-01-27 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: An economist examines the evolution of optimal tax analysis and its influence on tax policy design. Many things inform a country's choice of tax system, including political considerations, public opinion, bureaucratic complexities, and ideas drawn from theoretical analysis. In this book, Robin Boadway examines the role of optimal tax analysis in informing and influencing tax policy design. Scholars of public economics formulate models of optimal tax-transfer systems based on normative principles that reflect efficiency and equity considerations. They use that analysis to form views about the optimal design or reform of actual tax systems that are much more complicated than their models. Boadway argues that there is an important symbiosis between ideas drawn from normative tax analysis and tax policies actually enacted. Ideas germinated by normative analyses have led to the widespread adoption of the value-added tax, the use of refundable tax credits, and various business tax reforms. Other ideas provide rationales for existing features of tax systems, including the tax treatment of retirement savings and human capital investment. Boadway charts the evolution of optimal tax analysis and discusses the lessons it holds for tax policy. He describes the theoretical challenges posed by recent findings in such fields as behavioral economics and social choice and considers how optimal tax analysis might adapt to these new paradigms. His analysis offers a timely assessment of the role that optimal tax theory has played in establishing the principles that continue to inform tax policy.

Download or read book The Capital Asset Pricing Model in the 21st Century written by Haim Levy and published by Cambridge University Press. This book was released on 2011-10-30 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Capital Asset Pricing Model (CAPM) and the mean-variance (M-V) rule, which are based on classic expected utility theory, have been heavily criticized theoretically and empirically. The advent of behavioral economics, prospect theory and other psychology-minded approaches in finance challenges the rational investor model from which CAPM and M-V derive. Haim Levy argues that the tension between the classic financial models and behavioral economics approaches is more apparent than real. This book aims to relax the tension between the two paradigms. Specifically, Professor Levy shows that although behavioral economics contradicts aspects of expected utility theory, CAPM and M-V are intact in both expected utility theory and cumulative prospect theory frameworks. There is furthermore no evidence to reject CAPM empirically when ex-ante parameters are employed. Professionals may thus comfortably teach and use CAPM and behavioral economics or cumulative prospect theory as coexisting paradigms.

Download or read book Neuroeconomics written by Paul W. Glimcher and published by Academic Press. This book was released on 2013-08-13 with total page 606 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the years since it first published, Neuroeconomics: Decision Making and the Brain has become the standard reference and textbook in the burgeoning field of neuroeconomics. The second edition, a nearly complete revision of this landmark book, will set a new standard. This new edition features five sections designed to serve as both classroom-friendly introductions to each of the major subareas in neuroeconomics, and as advanced synopses of all that has been accomplished in the last two decades in this rapidly expanding academic discipline. The first of these sections provides useful introductions to the disciplines of microeconomics, the psychology of judgment and decision, computational neuroscience, and anthropology for scholars and students seeking interdisciplinary breadth. The second section provides an overview of how human and animal preferences are represented in the mammalian nervous systems. Chapters on risk, time preferences, social preferences, emotion, pharmacology, and common neural currencies—each written by leading experts—lay out the foundations of neuroeconomic thought. The third section contains both overview and in-depth chapters on the fundamentals of reinforcement learning, value learning, and value representation. The fourth section, "The Neural Mechanisms for Choice, integrates what is known about the decision-making architecture into state-of-the-art models of how we make choices. The final section embeds these mechanisms in a larger social context, showing how these mechanisms function during social decision-making in both humans and animals. The book provides a historically rich exposition in each of its chapters and emphasizes both the accomplishments and the controversies in the field. A clear explanatory style and a single expository voice characterize all chapters, making core issues in economics, psychology, and neuroscience accessible to scholars from all disciplines. The volume is essential reading for anyone interested in neuroeconomics in particular or decision making in general. - Editors and contributing authors are among the acknowledged experts and founders in the field, making this the authoritative reference for neuroeconomics - Suitable as an advanced undergraduate or graduate textbook as well as a thorough reference for active researchers - Introductory chapters on economics, psychology, neuroscience, and anthropology provide students and scholars from any discipline with the keys to understanding this interdisciplinary field - Detailed chapters on subjects that include reinforcement learning, risk, inter-temporal choice, drift-diffusion models, game theory, and prospect theory make this an invaluable reference - Published in association with the Society for Neuroeconomics—www.neuroeconomics.org - Full-color presentation throughout with numerous carefully selected illustrations to highlight key concepts

Download or read book Choices Values and Frames written by Daniel Kahneman and published by Cambridge University Press. This book was released on 2000-09-25 with total page 864 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the definitive exposition of 'prospect theory', a compelling alternative to the classical utility theory of choice. Building on the 1982 volume, Judgement Under Uncertainty, this book brings together seminal papers on prospect theory from economists, decision theorists, and psychologists, including the work of the late Amos Tversky, whose contributions are collected here for the first time. While remaining within a rational choice framework, prospect theory delivers more accurate, empirically verified predictions in key test cases, as well as helping to explain many complex, real-world puzzles. In this volume, it is brought to bear on phenomena as diverse as the principles of legal compensation, the equity premium puzzle in financial markets, and the number of hours that New York cab drivers choose to drive on rainy days. Theoretically elegant and empirically robust, this volume shows how prospect theory has matured into a new science of decision making.

Download or read book Prospective Theory written by DAVID L. COOPERRIDER and published by . This book was released on 2021-05 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Engaged research and qualitative theory building in the social sciences are among the greatest adventures and significant vocations life can present. The impact of good theory, no matter how tiny or vast, can instantly move across our intimate planet and affect every human and living system in this interconnected, relationally alive, and reverberating universe. Ideas change the world. Ideas can be about life and they can be life-giving in the sense that they can inspire, enliven, and open us to new horizons and new depths. A new idea, especially the idea whose time has come in a prospective and betterment sense, does more than inform: it transforms. We've all experienced it. A single new understanding can change us deeply.This book-emerging from the needs and urging of David's doctoral students and those who care about engaged scholarship-is about the craft of grounded and future-forming theory construction. It's a way of doing research in the human sciences that exists, in William James' contrast, "not as a dull habit but as an acute fever." This book, today used in doctoral research courses and masters programs in organization development, unites the original purpose of Appreciative Inquiry with the domains of grounded theory, generative theory, enlivenment world-views, and the art and science of portraiture. Taken together this volume provides a manifesto and clear framework for prospective theory-building. Prospective theory is:1. Theory inspired by life, and it is designed to apprehend the best in all of life's fullest, most meaningful, and best future possibilities while being grounded in the midst of the extraordinary, the ordinary, as well as the tragic;2. Has the enlivenment and generative capacity to challenge the status quo and open the world to new better possibilities for life and living;3. Articulates a future story of prospective possibility. It involves a proleptic merging of the ideal conditioned in the texture of the actual-e.g., vivid utopias that are right there in front of us-informing our future story for establishing the new and eclipsing the old.

Download or read book Metamodernism written by Jason Ananda Josephson Storm and published by University of Chicago Press. This book was released on 2021-07-20 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: Opening -- Part I. Metarealism. How the real world became a fable, or, The realities of social construction -- Part II. Process social ontology. Concepts in disintegration & strategies for demolition ; Process social ontology ; Social kinds -- Part III. Hylosemiotics. Hylosemiotics : the discourse of things -- Part IV. Knowledge and value. Zetetic knowledge ; The revaluation of values -- Conclusion : becoming metamodern.

Download or read book Behavioral Decision Theory written by Kazuhisa Takemura and published by Springer Nature. This book was released on 2021-09-29 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the second edition of Behavioral Decision Theory, published in 2014. The main approach and structure of this book have been retained in the new edition. However, this second edition provides a fresh overview of the idea of behavioral decision theory and related research findings such as theoretical and empirical discoveries of preference formation, time discounting, social interaction, and social decision making. The book covers a wide range from classical to relatively recent major studies concerning behavioral decision theory, which, in brief, is a general term for descriptive theories to explain the psychological knowledge related to people’s decision-making behavior. It is called a theory but is actually a combination of various psychological theories, for which no axiomatic systems—such as those associated with the utility theory widely used in economics—have been established. The utility theory is often limited to qualitative knowledge; however, as the studies of Nobel laureates H. A. Simon, D. Kahneman, and R. Thaler have suggested, the psychological methodology and knowledge of behavioral decision theory have been applied widely in such fields as economics, business administration, and engineering and are expected to become even more useful in the future. Research into people’s decision making represents an important part in those fields, various aspects of which overlap with the scope of behavioral decision theory. This theory is closely related to behavioral economics and behavioral finance, which have come into greater use in recent years. This book will appeal especially to graduate students, advanced undergraduate students, and researchers who are interested in decision-making phenomena.

Download or read book Bad Education written by Lee Edelman and published by Duke University Press. This book was released on 2022-12-05 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Long awaited after No Future, and making queer theory controversial again, Lee Edelman’s Bad Education proposes a queerness without positive identity—a queerness understood as a figural name for the void, itself unnamable, around which the social order takes shape. Like Blackness, woman, incest, and sex, queerness, as Edelman explains it, designates the antagonism, the structuring negativity, preventing that order from achieving coherence. But when certain types of persons get read as literalizing queerness, the negation of their negativity can seem to resolve the social antagonism and totalize community. By translating the nothing of queerness into the something of “the queer,” the order of meaning defends against the senselessness that undoes it, thus mirroring, Edelman argues, education’s response to queerness: its sublimation of irony into the meaningfulness of a world. Putting queerness in relation to Lacan’s “ab-sens” and in dialogue with feminist and Afropessimist thought, Edelman reads works by Shakespeare, Jacobs, Almodóvar, Lemmons, and Haneke, among others, to show why queer theory’s engagement with queerness necessarily results in a bad education that is destined to teach us nothing.

Download or read book Prospective Memory written by Mark A. McDaniel and published by SAGE Publications. This book was released on 2007-02-15 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: While there are many books on retrospective memory, or remembering past events, Prospective Memory: An Overview and Synthesis of an Emerging Field is the first authored text to provide a straightforward and integrated foundation to the scientific study of memory for actions to be performed in the future. Authors Mark A. McDaniel and Gilles O. Einstein present an accessible overview and synthesis of the theoretical and empirical work in this emerging field. Key Features: Focuses on students rather than researchers: While there are many edited works on prospective memory, this is the first authored text written in an accessible style geared toward students. Provides a general approach for the controlled, laboratory study of prospective memory: The authors place issues and research on prospective memory within the context of general contemporary themes in psychology, such as the issue of the degree to which human behavior is mediated by controlled versus automatic processes. Investigates the cognitive processes that underlie prospective remembering: Examples are provided of event-based, time-based, and activity-based prospective memory tasks while subjects are engaged in ongoing activities to parallel day-to-day life. Suggests fruitful directions for further advancement: In addition to integrating what is now a fairly loosely connected theoretical and empirical field, this book goes beyond current work to encourage new theoretical insights. Intended Audience: This relatively brief book is an excellent supplemental text for advanced undergraduate and graduate courses such as Memory, Human Memory, and Learning & Memory in the departments of psychology and cognitive science.