Documents disponibles écrits par cet auteur

Experienced vs. described uncertainty / Mohammed Abdellaoui in Management science, Vol. 57 N° 10 (Octobre 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 10 (Octobre 2011) . - pp. 1879-1895 Titre : Experienced vs. described uncertainty : Do we need two prospect theory specifications? Type de document : texte imprimé Auteurs : Mohammed Abdellaoui, Auteur ; Olivier L'Haridon, Auteur ; Corina Paraschiv, Auteur Année de publication : 2012 Article en page(s) : pp. 1879-1895 Note générale : Management Langues : Anglais (eng) Mots-clés : Experience-based  decisions  Description-based  decisions  Rare  events  Risk  Uncertainty  Prospect  theory  Utility  Loss  aversion  Decision  weights  Probability  weighting  Source  of  uncertainty  Ambiguity Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper reports on the results of an experimental elicitation at the individual level of all prospect theory components (i.e., utility, loss aversion, and weighting functions) in two decision contexts: situations where alternatives are described as probability distributions and situations where the decision maker must experience unknown probability distributions through sampling before choice. For description-based decisions, our results are fully consistent with prospect theory's empirical findings under risk. Furthermore, no significant differences are detected across contexts as regards utility and loss aversion. Whereas decision weights exhibit similar qualitative properties across contexts typically found under prospect theory, our data suggest that, for gains at least, the subjective treatment of uncertainty in experience-based and description-based decisions is significantly different. More specifically, we observe a less pronounced overweighting of small probabilities and a more pronounced underweighting of moderate and high probabilities for experience-based decisions. On the contrary, for losses, no significant differences were observed in the evaluation of prospects across contexts. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/10/1879.abstract [article] Experienced vs. described uncertainty : Do we need two prospect theory specifications? [texte imprimé] / Mohammed Abdellaoui, Auteur ; Olivier L'Haridon, Auteur ; Corina Paraschiv, Auteur . - 2012 . - pp. 1879-1895. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 10 (Octobre 2011) . - pp. 1879-1895 Mots-clés : Experience-based  decisions  Description-based  decisions  Rare  events  Risk  Uncertainty  Prospect  theory  Utility  Loss  aversion  Decision  weights  Probability  weighting  Source  of  uncertainty  Ambiguity Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper reports on the results of an experimental elicitation at the individual level of all prospect theory components (i.e., utility, loss aversion, and weighting functions) in two decision contexts: situations where alternatives are described as probability distributions and situations where the decision maker must experience unknown probability distributions through sampling before choice. For description-based decisions, our results are fully consistent with prospect theory's empirical findings under risk. Furthermore, no significant differences are detected across contexts as regards utility and loss aversion. Whereas decision weights exhibit similar qualitative properties across contexts typically found under prospect theory, our data suggest that, for gains at least, the subjective treatment of uncertainty in experience-based and description-based decisions is significantly different. More specifically, we observe a less pronounced overweighting of small probabilities and a more pronounced underweighting of moderate and high probabilities for experience-based decisions. On the contrary, for losses, no significant differences were observed in the evaluation of prospects across contexts. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/10/1879.abstract

Risk preferences at different time periods / Mohammed Abdellaoui in Management science, Vol. 57 N° 5 (Mai 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 5 (Mai 2011) . - pp. 975-987 Titre : Risk preferences at different time periods : An experimental investigation Type de document : texte imprimé Auteurs : Mohammed Abdellaoui, Auteur ; Enrico Diecidue, Auteur ; Ayse Öncüler, Auteur Année de publication : 2011 Article en page(s) : pp. 975-987 Note générale : Management Langues : Anglais (eng) Mots-clés : Time  preferences  Risk  preferences  Delayed  lotteries  Attitude  toward  risk  Utility  Decision  weights  Optimism  Sensitivity  to  probabilities Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Intertemporal decision making under risk involves two dimensions: time preferences and risk preferences. This paper focuses on the impact of time on risk preferences, independent of the intertemporal trade-off of outcomes, i.e., time preferences. It reports the results of an experimental study that examines how delayed resolution and payment of risky options influence individual choice. We used a simple experimental design based on the comparison of two-outcome monetary lotteries with the same delay. Raw data clearly reveal that subjects become more risk tolerant for delayed lotteries. Assuming a prospect theory–like model under risk, we analyze the impact of time on utility and decision weights, independent of time preferences. We show that the subjective treatment of outcomes (i.e., utility) is not significantly affected by time. In fact, the impact of time is completely absorbed by the probability weighting function. The effect of time on risk preferences was found to generate probabilistic optimism resulting in a higher risk tolerance for delayed lotteries. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/57/5/975 [article] Risk preferences at different time periods : An experimental investigation [texte imprimé] / Mohammed Abdellaoui, Auteur ; Enrico Diecidue, Auteur ; Ayse Öncüler, Auteur . - 2011 . - pp. 975-987. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 5 (Mai 2011) . - pp. 975-987 Mots-clés : Time  preferences  Risk  preferences  Delayed  lotteries  Attitude  toward  risk  Utility  Decision  weights  Optimism  Sensitivity  to  probabilities Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Intertemporal decision making under risk involves two dimensions: time preferences and risk preferences. This paper focuses on the impact of time on risk preferences, independent of the intertemporal trade-off of outcomes, i.e., time preferences. It reports the results of an experimental study that examines how delayed resolution and payment of risky options influence individual choice. We used a simple experimental design based on the comparison of two-outcome monetary lotteries with the same delay. Raw data clearly reveal that subjects become more risk tolerant for delayed lotteries. Assuming a prospect theory–like model under risk, we analyze the impact of time on utility and decision weights, independent of time preferences. We show that the subjective treatment of outcomes (i.e., utility) is not significantly affected by time. In fact, the impact of time is completely absorbed by the probability weighting function. The effect of time on risk preferences was found to generate probabilistic optimism resulting in a higher risk tolerance for delayed lotteries. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/57/5/975