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The as-is journal review process: Let authors own their ideas

Author

Listed:
  • Benno Torgler,
  • Sascha L. Schmidt
  • Bruno S. Frey

Abstract

In this paper we present a two period model, where the agent's preferences are described by prospect theory as proposed by Kahneman and Tversky. We solve for the agent's portfolio decision. Our findings are that the changes in portfolio weights depend crucially on the reference point and the ratio between the reference point and the current wealth, and thus only indirectly on the performance of the risky asset. Our model explains why investor keep on holding, or even buy, loosing investments.

Suggested Citation

  • Benno Torgler, & Sascha L. Schmidt & Bruno S. Frey, 2006. "The as-is journal review process: Let authors own their ideas," IEW - Working Papers 282, Institute for Empirical Research in Economics - University of Zurich.
    • Handle: RePEc:zur:iewwpx:282
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    File URL: https://www.zora.uzh.ch/id/eprint/52239/1/iewwp282.pdf
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    Cited by:

    1. Alfred Kieser, 2007. "Entwicklung von Organisationstheorien als Zeitgeistphänomen," Schmalenbach Journal of Business Research, Springer, vol. 59(6), pages 678-705, September.
    2. Jens Prüfer & David Zetland, 2010. "An auction market for journal articles," Public Choice, Springer, vol. 145(3), pages 379-403, December.
    3. Oswald, Andrew J., 2008. "Can We Test for Bias in Scientific Peer-Review?," IZA Discussion Papers 3665, Institute of Labor Economics (IZA).

    More about this item

    Keywords

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    JEL classification:

    • D00 - Microeconomics - - General - - - General
    • D60 - Microeconomics - - Welfare Economics - - - General
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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