Behavioral Financial Engineering: eine Fallstudie zum Rationalen Entscheiden

Markus Glaser

No 01-06, Papers from Sonderforschungsbreich 504

Abstract: The design of financial products, such as options or reverse convertibles, is guided by considerations that are all within the standard finance world where investors maximize expected utility and care about cash flows, but are indifferent among frames of cash flows. This case study describes the role of behavioral elements in the design of some financial products. The elements are prospect theory, non-linear probability weighting, framing effects, and mental accounting.

Keywords: präskriptive vs. deskriptive Entscheidungstheorie; Erwartungsnutzentheorie; Prospekt-Theorie; Wertfunktion; Wahrscheinlichkeitsgewichtungsfunktion (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:mnh:spaper:2815

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