This chapter analyzes reference-dependent consumption plans in a context of imperfect financial markets. Applications of prospect theory suggest that utility depends not only on consumption itself but also on gains and losses relative to prior consumption plans. By loss aversion, consumers prefer not to consume below planned levels, and by diminishing sensitivity, they prefer to take a sure los...

Studies on human monetary prediction and decision making emphasize the role of the striatum in encoding prediction errors for financial reward. However, less is known about how the brain encodes financial loss. Using Pavlovian conditioning of visual cues to outcomes that simultaneously incorporate the chance of financial reward and loss, we show that striatal activation reflects positively sign...

Indicators of the financial condition of the multifamily housing stock can potentially inform several policy issues, such as the loss of affordable rental units, multifamily developers’ access to capital, and the emerging secondary mortgage market for multifamily properties. Several rules of thumb exist for assessing financial condition. This article uses the Residential Finance Survey to inves...

We study the influence of the financial market on the decisions of firms in the real market. To that end, we present a model in which the shareholders portfolio selection of assets and the decisions of the publicly-traded firms are integrated through the market process. Financial access alters the objective function of the firms, and the market interaction of shareholders substantially influenc...

— China is being in the important time of economical reforming, which was still imperfect. As a result of the immature capital system, listed companies often had the loss situation .For the comparison between different loss frequency listed companies in redemption ability, operational capacity ,profit ability as well as development potential differences, this article will have 2003 to 2010 betw...

Background: A negative effect on public health of the Greek population as a result of the financial crisis is reported. The aim of this study was to examine the effect of the financial crisis on sleep and health outcomes of employees of the National Railway Organisation who had to face mandatory job transfers, significant reductions in salaries and anticipation of job loss. Methods: Data were a...