Risk preference refers to an individual's attitude towards financial risk, which affects their willingness to invest in assets with uncertain outcomes. It is a key factor that influences investment ...

Past psychology research suggests that some people are more prone than others to take risks in uncertain situations, such as investing money in risky business ventures, consuming addictive substances ...

To survive in complex and unpredictable environments, humans and other animals need to learn to predict the consequences of their actions, so that they can reduce risks and maximize their gains. In ...

Stochastic dominance has long been a fundamental tool in financial decision‐making, providing a robust non-parametric framework to compare different probability distributions of asset returns. By ...