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overconfidence.pdf

... risk, which can be shown to require that AV − 1 ≥ φ(σV φU − 1). Proposition 5: Suppose that ... δL0 = δL − ε and 0 , δ 0 } = {δ , δ } if δ > 0, or a contract with δ 0 = 0, δ 0 = δ − ε and δ 0 = δ − ε δH if δ = 0. {δM L M L ...

Haverford.pdf

... A G A Z I N E O F H AV E R F O R D T H E T ... College since 1983 FALL 2008 F A L L 2 0 0 8 33 Michael Kiefer Contributing Writers Vice President for Institutional ...