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Our aim is to find how asset allocation decisions might vary with investor's attitude about loss aversion. Based on the loss aversion theory, we modified the returns of the risky assets of the Mean-variance model, and set up an investor's objective function. By the empirical research, we show that the investor's feeling of loss aversion can have a potent effect on investment choice. Compared with...
Large infrastructure projects are, as several international studies show (e.g. Wachs 1990, Flyvbjerg et al. 2005), often miscalculated. The same has been shown in a country like Norway (e.g. Odeck 2004, Strand 2004, Osland et al 2007), which has a long tradition for transport planning as well as key role of macro-economics in the planning system. The wrong estimates often imply underestimations of...
The art of computer-based game production is an aspiring goal and a challenging task. It involves many different activities, expertise and skills into many different areas such as: game theory, programming skills, multimedia, 2D/3D graphics and animation, sound engineering, story writing, project design and management, physics, logic design, interface programming, artificial intelligence (AI) and...
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