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This paper examines the production and hedging decisions of the competitive firm under price uncertainty when the firm is not only risk averse but also regret averse. Regret-averse preferences are characterized by a modified utility function that inc
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We examine the economic behavior of the regret-averse firm under price uncertainty. We show that the global and marginal effects of price uncertainty on production are both positive (negative) when regret aversion prevails if the random output price
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We examine risk taking when the bank's preferences exhibit smooth ambiguity aversion. Ambiguity is modeled by a second-order probability distribution that captures the bank's uncertainty about which of the subjective beliefs govern the financial asse
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https://tud.qucosa.de/id/qucosa%3A28733
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Publikováno v:
In The Journal of Economic Asymmetries June 2020 21
Autor:
Broll, Udo1 (AUTHOR) udo.broll@tu-dresden.de, Welzel, Peter2 (AUTHOR), Wong, Kit Pong3 (AUTHOR)
Publikováno v:
Decisions in Economics & Finance. Jun2024, Vol. 47 Issue 1, p259-273. 15p.
Publikováno v:
Decisions in Economics and Finance.
This paper examines the production and hedging decisions of the competitive firm under price uncertainty when the firm is not only risk averse but also regret averse. Regret-averse preferences are characterized by a modified utility function that inc
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::25e0020b3a14666b33c75ba4085270ae
https://doi.org/10.1007/s10203-023-00395-0
https://doi.org/10.1007/s10203-023-00395-0
Publikováno v:
In Economic Modelling November 2015 50:275-280
Autor:
Lang, Günter, Welzel, Peter
Publikováno v:
Small Business Economics, 1999 Dec 01. 13(4), 273-286.
Externí odkaz:
https://www.jstor.org/stable/40229050