This work studies the problem of decision-making under risk by agents whose information
processing abilities may be limited. The constructed theoretical framework grounds on …

This paper studies the problem of decision-making under risk by agents whose information
processing abilities may be limited. The constructed theoretical framework grounds on …

Abstract The Allais Paradox, or the common consequence effect, is a well-known behavioral
regularity in individual decision-making under risk. Data from 81 experiments reported in 29 …

Is the Allais paradox robust to a seemingly trivial change of frame? Page 1 Economics Letters
34 (1990) 241-244 North-Holland 241 Is the Allais paradox robust to a seemingly trivial change …

The literature typically attributes the Allais Paradox to a violation of the Independence
Axiom. We present experimental data showing that violations of the Reduction of Compound …

The Allais Paradox, which nobody knew of 30 years ago, has become a cornerstone of both
decision theory and experimental economics. Moreover, it earned its inventor the Nobel …

Financial markets exhibit dynamics and behavior which are not completely explainable in
the traditional neoclassical economic framework based on the assumption of rationally …

Real-world financial dynamics daily do challenge the credibility of the Efficient Market
Hypothesis, the pillar of the whole martingale-based modern financial theory stating that at …

FINAL Silva Lockan Thesis (9 March 2024).docx Page 1 The Lockean Thesis Paul Silva Jr.
University of Cologne Rough Draft as of: 11 March 2024 Forthcoming in The Blackwell …

Behavioral finance is the application of psychology to finance, dedicated to explaining
anomalies in the financial market based on research and analysis of human behavior. This …