I know you are wondering‚ what is a mango?‚ What does a mango taste like?‚ and what is the texture of a mango like? Well I’m not because I know what one is‚ how it tastes and what the texture of one is like. That is why I’m writing you this letter to tell you a little bit about this mysterious fruit. At the end of this letter I am going to give you a few recipes that have mango in them so you can try some mango in styles and see how it can be used in so many different ways. A mango is a tropical
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consistently apply Bayes Rule when updating their expectations‚ and identifies the behavioural attributes that affect asset prices. This thesis extends this literature by examining deviations from the Bayesian model that arise due to i) ambiguity aversion‚ ii) investor sentiment and iii) decision heuristics. Bayesian Updating assumes that investors are able to always estimate a single generating process for expected returns. However‚ in reality investors analyze noisy information
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provide evidence that CEOs’ behavioral traits such as optimism and managerial risk-aversion are related to corporate financial policies. Further‚ we provide new empirical evidence that CEO traits such as risk-aversion and time preference are related to their compensation. & 2013 Elsevier B.V. All rights reserved. JEL classification: G30 G32 G34 Keywords: Managers Attitudes Personality traits Risk-aversion Capital structure Debt Acquisitions Corporate policies Behavioral corporate finance
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CFA Institute The End of Behavioral Finance Author(s): Richard H. Thaler Source: Financial Analysts Journal‚ Vol. 55‚ No. 6‚ Behavioral Finance (Nov. - Dec.‚ 1999)‚ pp. 12-17 Published by: CFA Institute Stable URL: http://www.jstor.org/stable/4480205 Accessed: 17/04/2009 10:10 Your use of the JSTOR archive indicates your acceptance of JSTOR ’s Terms and Conditions of Use‚ available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR ’s Terms and Conditions of Use provides‚ in part
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BOND PRICING CHAPTER 1 Floating Rate bonds * Floating rate bonds make interest payments that are tied to a measure of current market rates Example: Rate may be adjusted annually to the current T bill rate plus 2% * Major risk involved for floaters is due to the changes in the firm’s financial strength * Yield spread is fixed over life of security however if the firm’s strength deteriorates then investors would demand a greater yield premium * This makes the price of bonds
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inconsistent with the basic tenets of utility theory. In particular‚ people underweight outcomes that are merely probable in comparison with outcomes that are obtained with certainty. This tendency‚ called the certainty effect‚ contributes to risk aversion in choices involving sure gains and to risk seeking in choices involving sure losses. In addition‚ people generally discard
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’ALL TASTE IS ACQUIRED TASTE. ’ DISCUSS To say that all taste is acquired taste is to say that in expressing a preference for a particular food‚ style of dress or type of music we are expressing an entirely culturally learned system of values. In Western society ’good taste ’ is seen to be the domain of the upper classes. In other words the symbols appropriated by the economically and socially successful are the ones that are ascribed the most worth. Sahlins(1976) argues that the value
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Agency Theory: An Assessment and Review Author(s): Kathleen M. Eisenhardt Source: The Academy of Management Review‚ Vol. 14‚ No. 1 (Jan.‚ 1989)‚ pp. 57-74 Published by: Academy of Management Stable URL: http://www.jstor.org/stable/258191 Accessed: 14/10/2010 10:43 Your use of the JSTOR archive indicates your acceptance of JSTOR’s Terms and Conditions of Use‚ available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR’s Terms and Conditions of Use provides‚ in part‚ that unless you
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Arrow-Pratt measure for approximating local risk premia‚ and its structure reveals whether the decision maker’s risk preferences are ambiguity-averse as well as risk averse. Two versions of the smooth-ambiguity model are analyzed—the source-dependent risk aversion model and the second-order uncertainty (KMM) model—and it is shown that in both cases the overall premium for local uncertainty can be decomposed as the sum of a risk premium and an ambiguity premium. 1 Introduction The urn experiments devised
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Perception Chapter 15 - Taste Taste Versus Flavour Retronasal Olfaction • The sensation of an odour that is perceived when chewing and swallowing forces an odourant in the mouth‚ up behind the palate into the nose. • Such odour sensations are perceived as originating from the mouth‚ even though the actual contact of odourant and receptor occurs at the olfactory epithelium Flavour • The combination of true taste (sweet‚ salty‚ sour‚ bitter) and retronasal olfaction Taste Versus Flavour Retronasal
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