全球智库信息集成服务系统(G2TT): Investment under Uncertainty: Testing the Options Model with Professional Traders

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w16038
来源ID	Working Paper 16038
	Investment under Uncertainty: Testing the Options Model with Professional Traders
	John A. List; Michael S. Haigh
发表日期	2010-05-27
出版年	2010
语种	英语
摘要	An important class of investment decisions is characterized by unrecoverable sunk costs, resolution of uncertainty through time, and the ability to invest in the future as an alternative to investing today. The options model provides guidance in such settings, including an investment decision rule called the "bad news principle": the downside investment state influences the investment decision whereas the upside investment state is ignored. This study takes a new approach to examining predictions of the options model by using the tools of experimental economics. Our evidence, which is drawn from student and professional trader subject pools, is broadly consonant with the options model.
主题	Econometrics ; Experimental Design ; Microeconomics
URL	https://www.nber.org/papers/w16038
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/573713
推荐引用方式 GB/T 7714	John A. List,Michael S. Haigh. Investment under Uncertainty: Testing the Options Model with Professional Traders. 2010.