History-Dependent Risk Preferences: Evidence from Individual Choices and Implications for the Disposition Effect

Autor: Filippos Papakonstantinou, Angie Andrikogiannopoulou

Publikováno v: Andrikogiannopoulou, A & Papakonstantinou, F 2020, ' History-Dependent Risk Preferences : Evidence from Individual Choices and Implications for the Disposition Effect ', REVIEW OF FINANCIAL STUDIES, vol. 33, no. 8, pp. 3674–3718 . https://doi.org/10.1093/rfs/hhz127

Using trading data from a sports wagering market, we estimate individuals’ dynamic risk preferences within a prospect theory paradigm. This market’s experimental-like features facilitate preference estimation, and our long panel enables us to stu

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::fdfd61cba333684975307aab8293e022
https://doi.org/10.1093/rfs/hhz127

Individual Reaction to Past Performance Sequences: Evidence from a Real Marketplace

Autor: Angie Andrikogiannopoulou, Filippos Papakonstantinou

Publikováno v: Andrikogiannopoulou, A A & Papakonstantinou, F 2018, ' Individual Reaction to Past Performance Sequences : Evidence from a Real Marketplace ', MANAGEMENT SCIENCE, vol. 64, no. 4, pp. 1957-1973 . https://doi.org/10.1287/mnsc.2016.2636

We use novel data on individual activity in a sports betting market to study the effect of past performance sequences on individual behavior in a real market. The idiosyncratic nature of risk in this market and the revelation of assets’ true termin

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::c0582fc2d7da6c205fec7f994eb9579c
https://doi.org/10.1287/mnsc.2016.2636

Optimal Time-Inconsistent Beliefs: Misplanning, Procrastination, and Commitment

Autor: Markus K. Brunnermeier, Filippos Papakonstantinou, Jonathan A. Parker

Publikováno v: Brunnermeier, M, Papakonstantinou, F & Parker, J 2017, ' Optimal Time-Inconsistent Beliefs: Misplanning, Procrastination, and Commitment ', MANAGEMENT SCIENCE, vol. 63, no. 5, pp. 1318-1340 . https://doi.org/10.1287/mnsc.2015.2360

We develop a structural theory of beliefs and behavior that relaxes the assumption of time consistency in beliefs. Our theory is based on the trade-off between optimism, which raises anticipatory utility, and objectivity, which promotes efficient act

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::4d775c3d7390a1d6bcf2e69ae1ca9070
https://kclpure.kcl.ac.uk/ws/files/146734960/Optimal_Time_Inconsistent_Beliefs_PAPAKOSTANTINOU_Publishedonline26April2016_GREEN_AAM.pdf

A Direct and Full-Information Estimation of the Distribution of Skill in the Mutual Fund Industry

Autor: Angie Andrikogiannopoulou, Filippos Papakonstantinou

Publikováno v: SSRN Electronic Journal.

We propose a novel methodology that jointly estimates the proportions of skilled/unskilled funds and the cross-sectional distribution of skill in the mutual fund industry. We model this distribution as a three-component mixture of a point mass at zer

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::deee0db44952c803fb35404ff7a7373d
https://doi.org/10.2139/ssrn.2458326

An Economic Model of the Planning Fallacy

Autor: Markus K. Brunnermeier, Filippos Papakonstantinou, Jonathan A. Parker

People tend to underestimate the work involved in completing tasks and consequently finish tasks later than expected or do an inordinate amount of work right before projects are due. We present a theory in which people underpredict and procrastinate

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=od_______645::76de0cf1284d747b8754ae011813f7df
http://www.nber.org/papers/w14228.pdf