| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16190 |
| DP16190 Endogenous Risk Attitudes | |
| jakub steiner; Nick Netzer; Arthur Robson; Pavel Kocourek | |
| 发表日期 | 2021-05-26 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | In a model inspired by neuroscience, we show that constrained optimal perception encodes lottery rewards using an S-shaped encoding function and over-samples low-probability events. The implications of this perception strategy for behavior depend on the decision-maker's understanding of the risk. The strategy does not distort choice in the limit as perception frictions vanish when the decision-maker fully understands the decision problem. If, however, the decision-maker underrates the complexity of the decision problem, then risk attitudes reflect properties of the perception strategy even for vanishing perception frictions. The model explains adaptive risk attitudes and probability weighting as in prospect theory and, additionally, predicts that risk attitudes are strengthened by time pressure and attenuated by anticipation of large risks. |
| 主题 | Industrial Organization |
| 关键词 | Endogenous preferences Information processing Prospect theory |
| URL | https://cepr.org/publications/dp16190 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545161 |
| 推荐引用方式 GB/T 7714 | jakub steiner,Nick Netzer,Arthur Robson,et al. DP16190 Endogenous Risk Attitudes. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
