Anomalies: Risk aversion

Matthew Rabin and Richard Thaler

Chapter 27 in Handbook of the Fundamentals of Financial Decision Making:In 2 Parts, 2013, pp 467-480 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Economics can be distinguished from other social sciences by the belief that most (all?) behavior can be explained by assuming that rational agents with stable, well-defined preferences interact in markets that (eventually) clear. An empirical result qualifies as an anomaly if it is difficult to “rationalize” or if implausible assumptions are necessary to explain it within the paradigm. Suggestions for future topics should be sent to Richard Thaler, c/o Journal of Economic Perspectives, Graduate School of Business, University of Chicago, Chicago, IL 60637, or 〈thaler@gsb.uchicago.edu〉.

Keywords: Financial Decision Making; Asset Pricing; Prospect Theory; Utility Theory; Risk Aversion; Static Portfolio Theory; Stochastic Dominance; Dynamic Modeling; Dynamic Portfolio Theory; Tactical Asset Allocation; Kelly Strategy; Capital Growth (search for similar items in EconPapers)
Date: 2013
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Journal Article: Anomalies: Risk Aversion (2001)
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