Failing to foresee the updating of the reference point leads to time-inconsistent investment
The current literature on behavioral portfolio optimization with reference point updating
assumes that the decision maker foresees how the reference point will evolve and thus …
assumes that the decision maker foresees how the reference point will evolve and thus …
Robust portfolio strategies based on reference points for personal experience and upward pacesetters
This study explores the concept of reference dependence in decision-making behavior,
particularly in the realm of investment portfolios. Previous research has established that an …
particularly in the realm of investment portfolios. Previous research has established that an …
Following the actions of others: The simple average of strategies in a rational expectations economy
We study an alternative mechanism of social learning in a rational expectations equilibrium
economy where agents learn from the actions of others by adopting the simple average of ex …
economy where agents learn from the actions of others by adopting the simple average of ex …
Reference-Dependent Consumption Planning Behaviors: Theory, Evidence, and Implications for Consumption-Based Asset Pricing
G Ju - Evidence, and Implications for Consumption-Based …, 2024 - papers.ssrn.com
Our empirical findings support a model of consumption planning with two distinct features.
First, households formulate a rational consumption target based on their desired target …
First, households formulate a rational consumption target based on their desired target …
Asymptotic properties of distributed social sampling algorithm
Q Liu, X He, H Fang - Science China Information Sciences, 2020 - Springer
Social sampling is a novel randomized message passing protocol inspired by social
communication for opinion formation in social networks. In a typical social sampling …
communication for opinion formation in social networks. In a typical social sampling …
A Two-Period Behavioral Consumption-Investment Model
Recently cumulative prospect theory (CPT) serves as a dominant tool for descriptive
decisions under risk and uncertainty which can capture investors' psychology and emotions …
decisions under risk and uncertainty which can capture investors' psychology and emotions …