Purpose – The purpose of this paper is to report new original evidence on optimal holding periods and optimal asset allocations (Benartzi and Thaler, 1995). Design/methodology/approach – The authors employ a number of ...

The main aim of this paper is to empirically evaluate the role of three significant factors of the Prospect Theory: the S-shaped value function, the loss aversion, and the distortion of probability, in decision making. In ...

This paper presents all the Stochastic Dominance (SD) rules (in cluding Markowitz and Prospect SD Rule), situations relating to these rules such as arbitrage, and several classes of preferences consistent to the SD ap ...