Optimal exit time from casino gambling: Strategies of precommitted and naive gamblers
We consider a casino gambling model with an indefinite end date and gamblers endowed with cumulative prospect theory preferences. We study the optimal strategies of a precommitted gambler, who commits her future selves to the strategy she sets up today, and of a naive gambler, who is unaware of time...
| Main Authors: | , , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
Society for Industrial and Applied Mathematics
2019
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