Many decisions are interactive; the outcome of one party depends not only on its decisions
or on acts of nature but also on the decisions of others. Standard game theory assumes that …

One of the common issues related to tool use is to know why certain tools are chosen,
accepted and used by users, while others are rejected. The aim of this paper is to find out if …

Empirical studies examining firm environmental, social, governance [ESG] and financial
performance have provided contradictory results. The institutional difference hypothesis …

Although risk aversion is a fundamental element in standard theories of lottery choice, asset
valuation, contracts, and insurance (eg, Daniel Bernoulli, 1738; John W. Pratt, 1964; …

Using an international sample of banks and country-level indices for individualism and
uncertainty avoidance as proxies for national culture, we study how differences in culture …

Abstract Theory suggests that national culture influences bank risk-taking behavior directly
by conditioning the decision-making of human participants. This study uses an international …

Agency theory highlights losses in productivity that may occur when the interests of owners
and employees are imperfectly aligned. Pay for performance has been proposed as a …

This paper examines the foreign bias in international asset allocation. Following extant
literature in behavioral finance, we argue that a society's culture and the cultural distance …

Being the leader in a group often involves making risky decisions that affect the payoffs of all
members, and the decision to take this responsibility in a group is endogenous in many …

Decisions with uncertain outcomes are often made by one party in settings where another
party bears the consequences. Whenever an individual is delegated to make decisions that …