Explaining satisficing through risk aversion

DOI10.1007/S11238-020-09767-ZMaRDI QIDQ829485zbMATH OpenOpenAlexWikidataFDO

Authors Yudistira Permana

Publication date 6 May 2021

Published in Theory and Decision (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s11238-020-09767-z

zbMATH Keywords

expected utilityrisk aversionmaximum log likelihood

Mathematics Subject Classification ID

Utility theory (91B16)

Recommendations

• Risk aversion and expected-utility theory: a calibration exercise
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• RISK‐AVERSION BEHAVIOR IN CONSUMPTION/INVESTMENT PROBLEMS¹
• The behavioural components of risk aversion
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• Risk seeking with diminishing marginal utility in a non-expected utility model
• Explaining risky choices without assuming preferences
• Characterizations of risk aversion in cumulative prospect theory

Cites work

• A model of reference-dependent preferences
• Adaptive stochastic search
• Optimize, satisfice, or choose without deliberation? A simple minimax-regret assessment
• The role of aspiration level in risky choice: A comparison of cumulative prospect theory and SP/A theory
• Third-generation prospect theory
• When and how to satisfice: an experimental investigation
• When expectations become aspirations: reference-dependent preferences and liquidity constraints

Cited in

(3)

• When and how to satisfice: an experimental investigation
• Satisficing in financial decision making - a theoretical and experimental approach to bounded rationality
• Experimental Results on the Process of Goal Formation and Aspiration Adaptation

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