DecisionSciRN: Discounted Utility Theory (Sub-Topic)最新文献

{"title":"Refining the General Equilibrium Relation That Subsists Between Stock Returns, and Each of Investors Risk Preferences and Information Sets","authors":"Oghenovo A. Obrimah","doi":"10.2139/ssrn.3863362","DOIUrl":"https://doi.org/10.2139/ssrn.3863362","url":null,"abstract":"Typically, models of stock prices or returns assume homogeneity of risk preference parameters. This study shows modeling of IPO prices necessarily is with reference to the distribution of risk preference parameters that already are represented in secondary equity markets. Modeling of stock returns is shown predicated only on changes to investors' information sets, but is required to be robust to each of heterogeneity of risk preference parameters and existence, as an outcome, of representative agents. Non-bindingness of capital constraints facilitates the rational expectation that it is pricing of risk sharing benefits, not raw information, that determines stock prices.","PeriodicalId":205842,"journal":{"name":"DecisionSciRN: Discounted Utility Theory (Sub-Topic)","volume":"1081 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116031825","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Brand Resurrection: A Study on Determinants of Reviving Dead Brands in a Emerging Economy","authors":"Kaushik Handique, Samir Sarkar","doi":"10.34218/ijm.11.12.2020.098","DOIUrl":"https://doi.org/10.34218/ijm.11.12.2020.098","url":null,"abstract":"With the technological advancement, rapid pace of innovation and changing customer taste and preference, the normal life expectancy of many brands have declined unpresidently in the the marker in 21st century. This uncertainity is facing by almost all brands in the world irrespective of their current and past market size. The survivability of the brand or the longevity of the PLC is highly depends on how successfully these brands can touch their customers emotionaly, connects their inner selves and find new ways to reconnect. Mostly those brands vanish which fail to deliver a conctrete value to the customer and are very rigid in their approaches. Customers are more connected with the intangible attributes rather than physical or tangible attributes. Marketers must not forget that if a brand vanish or fail in a market, it must be because of certain specific and a number of other secondary factors. Changing trends or a poor marketing plan can also be a reason prime reason for any failure in the success. So, it could imply that a brand can return back strongly at any time if it gets proper timing, suitable trend and fashion. We have quite a few evidence that a few brands have effectively restored their names and revitalized their brands. Ultimately, a brand seeking to shed its past mistakes and forge ahead needs to examine its brand story to decide what connective elements should be carried forward, and what should be left behind. But there is a little research done in the area related to understanding the consumer desire to participate in brand resurrection and its ever-growing importance (Cattaneo, 2012; Dion, 2016). The study highlights the fact that several dead brands are being revived or are in the process of revival by organizations due to consumerbrand co-creation and resurrection movements. The main objective of the study is to explore factors that drive consumer participation in resurrection. The design of the research can be classified as both descriptive and exploratory; a survey method using a structured questionnaire is being used for data collection. The results of the study indicate that functional and social-adjustive utilities along with perceived brand superiority are not significantly associated with participation in brand resurrection. Further, we find partial support for the moderating effect of nostalgia. The relationship between functional and socialadjustive utilities and participation in brand resurrection is significant when moderated by nostalgia. The relationship between value-expressive utility and participation in brand resurrection is significant. There is a significant interplay between the value-expressive utility and nostalgia which suggests that both intentional and unintentional factors can explain customer motivation to participate in brand resurrection. Finally, the result indicates that nostalgia positively moderates all the factors like functional utility, social-adjustive utility, value- expressive utility, ","PeriodicalId":205842,"journal":{"name":"DecisionSciRN: Discounted Utility Theory (Sub-Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128668379","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Cooperation, Discounting, and the Effects of Delayed Costs and Benefits","authors":"Felix Kölle, T. Lauer","doi":"10.2139/ssrn.3260626","DOIUrl":"https://doi.org/10.2139/ssrn.3260626","url":null,"abstract":"Numerous studies have investigated how people resolve intertemporal trade-offs in individual decision making, but little is known about how the timing of costs and benefits affects behavior in strategic decision situations. Here, we experimentally study how delayed costs and/or benefits affect cooperation in a social dilemma situation. We find that cooperation is substantially reduced (increased) when only the benefits (costs) of cooperation are shifted towards the future. We show that the change in contributions can be explained by (i ) a shift in the beliefs about others' cooperativeness, (ii ) a shift in subjects' willingness to conditionally cooperate, and (iii ) a subject's degree of impatience. We further demonstrate that the amount of economic incentives needed to close the cooperation gap are substantial, indicating discount rates in our strategic context of about 50 percent, much higher than the ones typically observed in individual decision contexts. Finally, when both costs and benefits are delayed to the same extent, contribution levels do not change, indicating that cooperation is time-consistent.","PeriodicalId":205842,"journal":{"name":"DecisionSciRN: Discounted Utility Theory (Sub-Topic)","volume":"101 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131403797","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Simultaneous Estimation of Risk and Time Preferences Among Small‐Scale Cattle Farmers in West Africa","authors":"Sabine Liebenehm, H. Waibel","doi":"10.1093/ajae/aau056","DOIUrl":"https://doi.org/10.1093/ajae/aau056","url":null,"abstract":"This study investigates risk and time preferences of small-holder cattle farmers in West Africa. We apply a discounted utility model and jointly estimate a prospect theory-based utility function and a quasi-hyperbolic discounting function using a maximum likelihood method. Results show that West African farmers are less loss-averse and are more patient than suggested by comparable studies in Asian developing countries. The main factors influencing farmers' risk and time preferences are cattle herd size and net revenue from sales of cattle products.","PeriodicalId":205842,"journal":{"name":"DecisionSciRN: Discounted Utility Theory (Sub-Topic)","volume":"51 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132747571","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}