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Citations since 2016
3 Research Items
I work at the Brazilian Agency for Research and Innovation (Finep). I am also an independent researcher and a lecturer at IAG Business School. My interest lies in the intersection of finance/economics, psychology, and decision-making. This field is often called Behavioral Finance/Economics. Personal webpage: www.arnaldonascimento.com
In 1999, Richard Gonzalez and George Wu proposed an axiomatization for the widely used Goldstein–Einhorn probability weighting functions. Our present study analyzes the preference conditions in the axioms, leading to the discovery of a larger family of weighting functions. Furthermore, we present a new preference condition which is necessary and su...
Using prospect theory, we analyzed the narrow framing bias in investment decisions in certain emerging countries: Brazil, China, Russia, Mexico and South Africa. In all cases, we empirically identified the predictive power of prospect theory for stock returns. We also found that the probability weighting function is the most important factor in thi...