Add to ORKGThe equilibrium prices in asset markets, as stated by Keynes (1930): ...will be xed at the point at which the sales of the bears and the purchases of the bulls are balanced.We propose a descriptive theory of \u85nance explicating Keynes claim that the prices of assets today equilibrate the optimism and pessimism of bulls and bears regarding the payo¤s of assets tomorrow. This equilibration of optimistic and pessimistic beliefs of investors is a con-sequence of investors maximizing a¤ective utilities subject to budget constraints de ned by market prices and investors income. The set of a¤ective utilities is a new class of non-expected utility functions representing the attitudes of investors for optimism or pessimism, de\u85ned as the compos...
In this paper, we characterize subjective probability beliefs leading to a higher equilibrium market...
This paper presents an intuitive way to represent Keynes's theory of expectations and its implicatio...
The concept of a non-extreme-outcome-additive capacity (neo-additive capacity ) is introduced. Neo-a...
The equilibrium prices in asset markets, as stated by Keynes (1930): “…will be fixed at the point at ...
The equilibrium prices in asset markets, as stated by Keynes (1930): “…will be fixed at the point at ...
We propose Keynesian utilities as a new class of non-expected utility functions representing the pre...
In this paper we introduce a new, analytically tractable framework for decision-making under risk in...
Savage (1954) provided a set of axioms on preferences over acts that were equiva-lent to the existen...
International audienceFinancial instability is often either ascribed to rationality itself coping wi...
There is an abundant literature in finance on overconfidence, however there exists a different psych...
Measurements and forecasting of risk involve distributional assumptions of the determinants of the m...
La version attachée à cette notice est la version soumise à publication.Le fichier attaché est une v...
Keynes’ General Theory provides an interesting metaphor for asset markets: they are like newspaper c...
Since the birth of mathematical nance, portfolio selection has been one of the topics which have att...
Mainstream perspectives involving uncertainty presume that expectations are based on either a statis...
In this paper, we characterize subjective probability beliefs leading to a higher equilibrium market...
This paper presents an intuitive way to represent Keynes's theory of expectations and its implicatio...
The concept of a non-extreme-outcome-additive capacity (neo-additive capacity ) is introduced. Neo-a...
The equilibrium prices in asset markets, as stated by Keynes (1930): “…will be fixed at the point at ...
The equilibrium prices in asset markets, as stated by Keynes (1930): “…will be fixed at the point at ...
We propose Keynesian utilities as a new class of non-expected utility functions representing the pre...
In this paper we introduce a new, analytically tractable framework for decision-making under risk in...
Savage (1954) provided a set of axioms on preferences over acts that were equiva-lent to the existen...
International audienceFinancial instability is often either ascribed to rationality itself coping wi...
There is an abundant literature in finance on overconfidence, however there exists a different psych...
Measurements and forecasting of risk involve distributional assumptions of the determinants of the m...
La version attachée à cette notice est la version soumise à publication.Le fichier attaché est une v...
Keynes’ General Theory provides an interesting metaphor for asset markets: they are like newspaper c...
Since the birth of mathematical nance, portfolio selection has been one of the topics which have att...
Mainstream perspectives involving uncertainty presume that expectations are based on either a statis...
In this paper, we characterize subjective probability beliefs leading to a higher equilibrium market...
This paper presents an intuitive way to represent Keynes's theory of expectations and its implicatio...
The concept of a non-extreme-outcome-additive capacity (neo-additive capacity ) is introduced. Neo-a...