Hope, fear, and aspirations
We propose a rank-dependent portfolio choice model in continuous time that captures the role in decision making of three emotions: hope, fear, and aspirations. Hope and fear are modeled through an inverse-S shaped probability weighting function and aspirations through a probabilistic constraint. By...
| Autores principales: | , |
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| Formato: | Journal article |
| Lenguaje: | English |
| Publicado: |
Wiley
2013
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