منابع مشابه
Intrinsic Information Preferences and Skewness∗
We present experimental results from a broad investigation of intrinsic preferences for information. We examine whether people prefer negatively skewed or positively skewed information structures when they are equally informative, whether people prefer more or less informative information structures, and how individual preferences over the skewness and the degree of information relate to one an...
متن کاملInstitutional Skewness Preferences and the Idiosyncratic Skewness Premium∗
This study examines whether idiosyncratic skewness preferences of institutional investors influence stock returns. On aggregate, institutions exhibit an aversion for idiosyncratic skewness but prefer systematic skewness, and in the cross-section, larger (smaller) and more (less) diversified institutions exhibit stronger (weaker) aversion for idiosyncratic skewness. The aggregate institutional p...
متن کاملSkewness and market investors risk preferences
Risk preferences are generally measured with utility functions, which are subjective and usually restrict market agents to be risk averse. The current study investigates investors' preferences toward risk from the index price movement perspective. In a risk neutral market, future prices will increase or decrease with the same probability. However, if the market representative-agents are risk av...
متن کاملPreferences for Non-Instrumental Information and Skewness∗
We present experimental results from a broad investigation of intrinsic preferences for information. We examine whether people prefer negatively skewed or positively skewed information structures when they are equally informative, whether people prefer Blackwell more informative information structures, and how individual preferences over the skewness and the degree of information relate to one ...
متن کاملAre Preferences for Skewness fixed or Fungible
Are individual preferences for skewness fixed or fungible? Using preference reversals as a case study, we find evidence that preferences remained stable as reversals disappear due to arbitrage across both market-like and non-market contexts. Todd L. Cherry, Sara Gunnarsson, & Jason F. Shogren (2003) "Are Preferences for Skewness fixed or Fungible" Economic Letters Volume 80 Issue 1 pp.113-121 [...
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ژورنال
عنوان ژورنال: Journal of the European Economic Association
سال: 2019
ISSN: 1542-4766,1542-4774
DOI: 10.1093/jeea/jvz035