Behavioral Financial Engineering : eine Fallstudie zum Rationalen Entscheiden

Glaser, Markus

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URL:	http://ub-madoc.bib.uni-mannheim.de/2815
URN:	urn:nbn:de:bsz:180-madoc-28157
Document Type:	Working paper
Year of publication:	2001
The title of a journal, publication series:	None
Publication language:	German
Institution:	School of Law and Economics > Sonstige - Fakultät für Rechtswissenschaft und Volkswirtschaftslehre
MADOC publication series:	Sonderforschungsbereich 504 > Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung (Laufzeit 1997 - 2008)
Subject:	330 Economics
Subject headings (SWD):	Financial Engineering , Kundenmanagement , Anlageverhalten , Erwarteter Nutzen
Keywords (English):	präskriptive vs. deskriptive Entscheidungstheorie , Erwartungsnutzentheorie , Prospekt-Theorie , Wertfunktion , Wahrscheinlichkeitsgewichtungsfunktion
Abstract:	The design of financial products, such as options or reverse convertibles, is guided by considerations that are all within the standard finance world where investors maximize expected utility and care about cash flows, but are indifferent among frames of cash flows. This case study describes the role of behavioral elements in the design of some financial products. The elements are prospect theory, non-linear probability weighting, framing effects, and mental accounting.
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