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A psychological study of reading comprehension in Chinese using the moving window and eye-monitoring techniques. / Paradigms in comprehensionJanuary 1998 (has links)
Lau Wing Yin, Verena. / Thesis (M.Phil.)--Chinese University of Hong Kong, 1998. / Includes bibliographical references (leaves 74-78). / Abstract also in Chinese. / Acknowledgments --- p.2 / Abstract in English --- p.3 / Abstract in Chinese --- p.4 / Introduction --- p.5 / Major features of the Chinese language and processes in Chinese reading comprehension / Different paradigms in Chinese reading comprehension / Research questions of the present study / Research design of the present study / Experiment1 --- p.24 / Experiment2 --- p.32 / Experiment3 --- p.39 / General Discussion --- p.57 / Conclusion --- p.73 / References --- p.74 / Appendix A --- p.79 / Appendix B --- p.84
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Hope: its attributes and relationship with psychosocial adjustment. / Hope and adjustmentJanuary 2003 (has links)
Hui Chi Wing Josephine. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2003. / Includes bibliographical references (leaves 91-97). / Abstracts in English and Chinese. / Abstract --- p.i / Acknowledgement --- p.iv / List of Tables --- p.vii / List of Figures --- p.ix / Chapter Chapter 1: --- Hope in the Literature --- p.1 / Chapter Chapter 2: --- Hope and Adjustment --- p.19 / Chapter Chapter 3: --- The Proposed Study - Methodology --- p.26 / Chapter Chapter 4: --- Result I - The Construct of Hope --- p.37 / Chapter Chapter 5: --- Result II - Hope and Adjustment in Community Sample --- p.59 / Chapter Chapter 6: --- Result III - Hope and Adjustment in Clinical Sample --- p.74 / Chapter Chapter 7: --- Conclusion --- p.87 / References --- p.91 / Appendices --- p.98 / Appendix A: Interview Form for the Thalassemic Children --- p.98 / Appendix B: Invitation Letters and Consent Forms for the Community Sample --- p.103 / Appendix C: Children Questionnaire for the Community Sample --- p.104 / Appendix D: Parent Questionnaire for the Community Sample --- p.110 / Appendix E: Consent Forms for the Clinical Sample --- p.116 / Appendix F: Children Questionnaire for the Clinical Sample --- p.118 / Appendix G: Parent Questionnaire for the Clinical Sample --- p.127 / Appendix H: Coding Protocol --- p.138
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Benefits for the donor and costs for the recipient: under what conditions will they help others in the future?.January 2007 (has links)
Liao, Yuan. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2007. / Includes bibliographical references (leaves 48-57). / Abstracts in English and Chinese. / ABSTRACT --- p.i / 摘要 --- p.iii / ACKNOWLEDGEMENTS --- p.iv / TABLE OF CONTENTS --- p.v / LIST OF TABLES --- p.vii / LISTS OF FIGURES --- p.viii / Chapter CHAPTER ONE: --- INTRODUCTION --- p.1 / THE DONOR'S PERSPECTIVE --- p.8 / Reciprocation --- p.9 / Positive self-evaluation --- p.11 / Social norms and approval --- p.12 / THE RECIPIENT'S PERSPECTIVE --- p.13 / Benefits of accepting help --- p.13 / Costs of accepting help: The Threat to Self-Esteem --- p.14 / INFLUENCE OF CHINESE CULTURE --- p.15 / OVERVIEW OF THE PRESENT STUDIES --- p.16 / Chapter CHAPTER TWO: --- EMPIRICAL STUDIES --- p.20 / STUDY ONE: HELP-GIVING SITUATION --- p.20 / Method --- p.20 / Results --- p.23 / Discussion --- p.28 / STUDY TWO: HELP-RECEIVING SITUATION --- p.31 / Method --- p.31 / Results --- p.33 / Discussion --- p.38 / Chapter CHAPTER THREE: --- GENERAL DISCUSSION --- p.40 / INTEGRATIVE MODELS IN TWO SITUATIONS --- p.40 / POSSIBLE FUNCTIONS OF CHINESE CULTURE --- p.43 / PRACTICAL IMPLICATIONS --- p.44 / LIMITATION AND FUTURE DIRECTIONS --- p.45 / CONCLUSION --- p.47 / References --- p.48 / Appendices --- p.58 / Appendix 1 --- p.58 / Appendix 2 --- p.61
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Effective uses of quantity limits as a promotional tool: new insights for retailers.January 1999 (has links)
Cheng Oi Yin, Carolina. / Thesis (M.Phil.)--Chinese University of Hong Kong, 1999. / Includes bibliographical references (leaves 61-62). / Abstract and questionnaire also in Chinese.
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Effects of sensory experiences on consumers' preferences and behavior. / 感官體驗对消費者偏好與行為的影响 / CUHK electronic theses & dissertations collection / Gan guan ti yan dui xiao fei zhe pian hao yu xing wei de ying xiangJanuary 2013 (has links)
Huang, Xun. / Thesis (Ph.D.)--Chinese University of Hong Kong, 2013. / Includes bibliographical references (leaves 73-87). / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Abstract also in Chinese.
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Does it matter if I am an actor or a third party?: the relationship between belief in a just world and justice perceptions.January 2007 (has links)
Mao, Yina. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2007. / Includes bibliographical references (leaves 67-73). / Abstracts in English and Chinese. / List of Tables --- p.2 / List of Figures --- p.3 / Abstract --- p.4 / 摘要 --- p.5 / Acknowledgement --- p.6 / Chapter 1. --- Introduction --- p.7 / Chapter 2. --- Theories and hypotheses --- p.10 / Chapter 2.1 --- actors and third parties --- p.10 / Chapter 2.1.1 --- Belief in a just world --- p.10 / Chapter 2.1.2 --- Threat to the belief in a just world --- p.13 / Chapter 2.1.3 --- Maintenance of the belief in a just world --- p.14 / Chapter 2.1.4 --- Current research focus and the research gap --- p.15 / Chapter 2.1.5 --- Actors and third parties --- p.17 / Chapter 2.1.6 --- Hypothesis development --- p.22 / Chapter 2.2. --- Heuristic cues --- p.27 / Chapter 2.3 --- Multiple strategies --- p.29 / Chapter 2.3.1 --- Co-occurrence of strategies --- p.29 / Chapter 3. --- Method --- p.37 / Chapter 3.1 --- Research design --- p.37 / Chapter 3.2 --- Scenarios --- p.38 / Chapter 3.3 --- Pilot study --- p.40 / Chapter 3.3.1 --- Measurements --- p.40 / Chapter 3.3.2 --- Description of the sample --- p.43 / Chapter 3.3.3 --- Analysis --- p.43 / Chapter 3.3.4 --- Adjustments --- p.45 / Chapter 3.4 --- Power analysis --- p.45 / Chapter 3.5 --- Main study --- p.47 / Chapter 3.6 --- results --- p.48 / Chapter 4. --- Conclusions and implications --- p.58 / References --- p.67 / Appendix: Questionnaire used in this study (Chinese version) based on scenario 1 --- p.74
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Can brief mindfulness training reduce ostracism's psychological damage?.January 2012 (has links)
這項研究利用多角度方法,去探索簡短靜觀訓練對因被排斥而導致的心理困擾有否影響;更會將靜觀訓練與自律鬆弛法和控制組作比較。本實驗的參加者包括了161名香港中文大學的本科生和研究生。並用了Cyberball遊戲去模擬社會排斥。所有參加者被隨機分成三組: 1) 靜觀、 2) 自律鬆弛、 3) 控制組。我根據他們的生理反應測量 (如皮膚電導、心率), 混合動機任務,隱含測試(i.e. lexical decision task),和自我評估去度量情緒困擾、互動模式、對自己和他人的態度、和在靜觀能力及態度的改變。 本實驗採用了生理反應測量 (如皮膚電導, 心率), 混合動機任務、隱含測試、和自我報告去評估幾方面的反應:情緒困擾、 與別人互動樣式、對自己和他人的態度、和靜觀能力的改變。結果顯示,靜觀組 的自尊心和存在意義感相比其他兩組高; 然而,靜觀組和自律鬆弛組之間沒有顯著差異。在靜觀的改變上,我們使用兩套問卷: (一)Southampton Mindfulness Questionnaire (SMQ), (二)Self-Other Four Immeasurables (SOFI) 。結果顯示,靜觀組在 SOFI Positive-Self 方面有明顯的提升; 而在SOFI Positive-Other能維持不變,相反其他兩組就有顯著的下降。可是,SMQ 和 SOFI問卷的其餘部分 (例如:SOFI Negative-Self, SOFI-Negative-Other),沒有發現顯著的組間差異。除了採用兩份靜觀問卷外,我也使用了Self-Compassion Scale (SCS) 來測量慈心品性對結果的影響。結果顯示,性格較為靜觀及慈心的人, 沒有那麽容易受排斥而引至有不良影響。有趣的是,不同層次的靜觀性格和自我慈悲能有不同的訓練受益。例如,慈心的人在靜觀後會更為慷慨。然而,對於那些SOFI Negative-Other 低分的人,在靜觀後會減少對別人指責的傾向。可是,其他結果 (例如: 混合動機任務、隱含測試 ) ,卻找不到跨組的差異。在生理反應測量方面,結果便與預期不太一致: 靜觀組和自律鬆弛組的皮膚電導,在post-Cyberball 期間甚至比控制組為高; 而其他時段則找不到跨組間差異。在這篇文章的總結中,我也提到這個實驗之不足之處以及可以改善的方法。總括而言,雖然實驗結果所發現的成效不是太明顯,但我們不能忽視靜觀簡化版本的實用價值。尤其是對那些被邊緣化的人來說,簡化版本能使他們更容易參與訓練並從中受益。在文章的末尾,我會提及更具體的意義和建議,希望能對今後的研究有所影響。 / This study utilized the experimental multimodal approach to explore the effectiveness of brief mindfulness training in reducing the psychological distress induced by ostracism, comparing with brief relaxation training and no intervention control. Participants included 161 undergraduate and graduate students from CUHK. Cyberball game paradigm was used to simulate social exclusion. All participants were randomized into 3 groups: 1) meditation, 2) relaxation, 3) no intervention control. Physiological measures (i.e., skin conductance, heart rate), mixed-motive task, and implicit test (i.e. lexical decision task), and self-reports were used to assess emotional distress, interactions styles, attitudes toward self and others, and change in mindfulness. Results indicated that meditation group expressed higher level of self-esteem and sense of meaningful existence despite of social rejection in comparison with no intervention control. However, there was no significant difference between meditation and relaxation group. In terms of the mindfulness qualities as measured by Southampton Mindfulness Questionnaire (SMQ) and Self-Other Four Immeasurables (SOFI), meditation group reported greater enhancement in SOFI Positive-Self, while other two groups remain statistically unchanged. For SOFI Positive-Other, only meditation group remained as positive as before while other two groups dropped. However, the result from other mindfulness measurement (i.e. SMQ) and dimensions (i.e. SOFI Negative-Self, SOFI Negative-Other) revealed no significant group difference. In addition to the two mindfulness scales, the Self-Compassion Scale (SCS) was also used to capture the baseline self-compassion disposition. Correlational result showed that, being more mindful and self-compassionate was in general associated with feeling less threatened by the exclusion task. Interestingly, people of various levels of mindfulness and self-compassion could benefit from mindfulness training differently. For example, participants who were more self-compassionate would display more generous behavior only if they were in meditation group. However, for those who scored low on baseline SOFI Negative-Other, meditation reduced their tendency to blame others. Contrary to expectation, no statistically significant difference was found across conditions in implicit self-other attitudes and interaction styles. For physiological arousal, no significant cross group difference was identified with the exception of during the post-Cyberball period, in which skin conductance was significantly higher for meditation and relaxation groups relative to no-intervention control. . Limitations in the Cyberball manipulation and intervention implementation were noted, which may impact the study findings. In sum, despite the small effect observed in the mindfulness training condition, the practical value of an abbreviated mindfulness format cannot be ignored, particularly for the socially ostracized population whom may not have the luxury to experience the full-scale mindfulness training. More specific implications and suggestions for future research were discussed. / Detailed summary in vernacular field only. / Chan, Tsz Ying Amy. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2012. / Includes bibliographical references (leaves 73-79). / Abstracts also in Chinese; appendix A includes Chinese. / Abstract --- p.iv / Introduction --- p.1 / Stigmatization and Ostracism --- p.1 / Ways to Combat Stigma --- p.2 / Existing Efforts --- p.2 / Mindfulness Mechanism in Reducing the Negative Impacts of Being Socially Excluded --- p.3 / What is Mindfulness? --- p.3 / Suggested Mechanism on How Mindfulness Deals with Ostracism --- p.7 / Mindfulness Based Approach --- p.9 / Evidence of Mindfulness on Stigma Reduction --- p.10 / Constraint Of Current Mindfulness Intervention --- p.11 / Objectives of This Study --- p.13 / Main Hypothesis --- p.13 / Hypothesis 1 --- p.14 / Hypothesis 2 --- p.15 / Hypothesis 3 --- p.15 / Hypothesis 4 --- p.15 / Hypothesis 5 --- p.16 / Method --- p.17 / Pilot --- p.17 / Participants --- p.17 / Measures --- p.17 / Screening Measure --- p.17 / Baseline Measure --- p.18 / Procedure --- p.22 / Result --- p.28 / Hypothesis 1.1: Meditation Group Has the Lowest Physiological Arousal (i.e. HR, SC) Followed by Relaxation and Control Groups during and after Cyberball Game --- p.29 / Hypothesis 1.2: Meditation Group was Least Threatened by the Social Exclusion Effect of the Cyberball Game, Followed by Relaxation and Control. --- p.31 / Hypothesis 1.3: Meditation Group had the Most Positive Attitude and Least Negative Attitude toward Self and Other, Followed by Relaxation and Control. --- p.32 / Hypothesis 2: Meditation Group was the Most Mindful, Measured by SMQ and SOFI, Followed by Relaxation and Control Groups. --- p.33 / Hypothesis 3 Meditation Group has the Most Positive Communication Style (3.1) and Give the Largest Amount of Points to Opponents (3.2), Followed by Relaxation and Control Groups --- p.36 / Hypothesis 4: Mindfulness Trait’s Interaction with Group Assignment in Affecting Outcomes --- p.36 / Correlational Analysis --- p.36 / Group X Baseline Mindfulness Interaction Effect --- p.39 / Hypothesis 5: Trait Self-Compassion’s Interaction with Group Assignment in Affecting Outcomes --- p.41 / Discussion 43 / Was the Brief Mindfulness Training Successful in Reducing the Negative Effect of Ostracism? --- p.43 / Decrease in Physiological Arousal --- p.43 / Stronger Resilience toward Ostracism? --- p.44 / Does Mindfulness Increase Selfless Behavior? --- p.45 / Implicit Attitudes toward Self and Others --- p.46 / Was Brief Mindfulness Session Successful in Improving Mindfulness? --- p.47 / How Does the Mindfulness and Self-Compassionate Predisposition Affect One’s Receptivity toward Brief Mindfulness Training? --- p.48 / Limitations --- p.50 / Implications and Conclusion --- p.52 / APPENDIX A --- p.57 / Instruction for meditation group --- p.57 / Instruction for relaxation group --- p.60 / APPENDIX B --- p.64 / DASS 21 --- p.64 / APPENDIX C --- p.65 / Self-Compassion Scale (26 Items) --- p.65 / APPENDIX D --- p.66 / Southampton mindfulness questionnaire (SMQ) 16 item --- p.66 / APPENDIX E --- p.67 / Self-Other Four Immeasurable (SOFI) --- p.67 / APPENDIX F --- p.68 / Assessment of manipulations, need satisfaction, and mood following ostracism (31 items) --- p.68 / APPENDIX G --- p.70 / Communication Checklist-Key --- p.70 / REFERENCES --- p.72
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An integrated model of parenting stress among Chinese mothers with children advancing from primary to secondary school. / CUHK electronic theses & dissertations collectionJanuary 2007 (has links)
At Time 2, the mother-adolescent dyads were contacted again at the end of the academic year, of which 304 dyads participated in the survey. The longitudinal model generated results similar to that of Time 1. Path analysis revealed that gender differences emerged in the complexity of the model. For girls, all stressors except emotional autonomy contributed to parenting stress, which in turn negatively influenced parenting style. Maternal control mediated the negative impact of parenting stress on achievement aspirations. However, parenting style did not predict girls' perceived academic competence. For boys, all stressors except emotional autonomy predicted parenting stress, which in turn impaired the quality of parenting style. However, parenting style did not predict any of boys' adjustment outcomes. Instead, emotional autonomy had a direct negative impact on achievement aspirations and perceived academic competence. / Based on results derived at Time 2, the model was revised and gender differences were tested using multi-sample analyses. In the final model, parenting stress had an indirect effect on girls' achievement aspirations through the mediation of parental control, whereas parenting stress had a direct effect on boys' achievement aspirations. However, only maternal academic distress predicted adolescent perceived academic competence in both genders. / The present dissertation broadened current literature in the area by proposing an integrated model of parenting stress. Findings suggested intervention to target at mother's parenting self-efficacy, and parenting alliance to ameliorate the stresses and burden of child caring. However, the validity of the findings may be impeded by limitations in relation to methodology. Implications for future research on parenting stress were discussed in detail. / There is no doubt that parenting is one of the most taxing roles. The issue of parenting stress is a complex phenomenon that requires research to be guided by theory and models (Abidin, 1990), without which advancement in the area would not be possible. The present dissertation was an attempt to propose an integrated model of parenting stress among Chinese mothers with children advancing from primary to secondary school. The integrated model was a modification of Abidin's (1992) model in that variables appropriate to the child's developmental stage and the Chinese culture were incorporated. The model postulated that parenting-relevant stressors/resources were predictive of parenting stress. Parenting stress then had a negative impact on adolescent outcomes through the mediation of parenting style. Negative outcomes would further accentuate parenting stress, thus creating a vicious cycle of maladaptiveness. The validity of the model in predicting adolescent achievement aspirations and perceived academic competence was tested at two time points over a 6-month interval. At Time 1, the cross-sectional model was tested in 510 mother-adolescent dyads. Results of path analysis revealed substantial gender differences. For girls, adolescent emotional autonomy, maternal academic distress, parenting alliance and parenting self-efficacy contributed to parenting stress. Parenting stress had a direct effect on parenting style and indirect effect on girls' achievement aspirations and perceived academic competence through the mediation of parental control. For boys, all the stressors except emotional autonomy contributed to parenting stress. Parenting stress had a direct effect on parenting style. However, parenting style did not mediate the effect of parenting stress as both parental control and parental responsiveness failed to explain boys' outcomes. Instead, boys' emotional autonomy contributed directly to lower levels of achievement aspirations and perceived academic competence. / Lai, Pui Yee. / "June 2007." / Adviser: Catherine S. K. Tang. / Source: Dissertation Abstracts International, Volume: 69-01, Section: B, page: 0717. / Thesis (Ph.D.)--Chinese University of Hong Kong, 2007. / Includes bibliographical references (p. 136-165). / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Electronic reproduction. [Ann Arbor, MI] : ProQuest Information and Learning, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Abstracts in English and Chinese. / School code: 1307.
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Behavioral portfolio models and their implications in Investors' behaviors.January 2013 (has links)
作为一个新的研宄范式,行为金融(behavioral finance)最本质的特征是应用心理学的发现去诊察人们的决策制定过程。然而,这些相关应用在投资决策领域,尤其是动态投资组合优化领域,仍然处于初级阶段。期望效用理论框架下的经典投资组合优化模型在数学上对应的是一个容易处理的凸优化_题,而建立在Kahneman and Tversky 前景理论(Prospect Theory, P T ) 基础上的行为投资组合优化模型则常常变成一个非凸的(non-convex)或者时间不一致的(time inconsistent)优化問题。因此,如何恰当地把行为金融领域的新发现应用到实际的资产组合选择中去仍然是个难题。本论文的目标正是想推动这一理论在实践中的应用:我们首先把投资者的心理特征建模到一个标准动态投资组合模型中,然后在由模型推导出来的最优投资策略中找出这些新特征的影响。 / 为了达到这一目标,本论文由探讨投资者行为与投资组合优化的三个独立研宄组成。在第一个研宄中,基于前景理论的S-型价值函数(S-shaped value function),我们建立了一个多期动态资产组合优化的一般模型。不同于期望效用理论下的经典模型,行为金融理论下的投资组合模型在数学上往往是提法不当的(ill-posed),常常会得出无穷最优解。He and Zhou [2011]在他们的单期模型中已经非常明确地指出了这一点。因此,我们首先在多期模型框架下找出能限制无穷最优解出现的条件,然后在这些条件之下我们推导出半显式的最优投资策略。特别地,我们发现在两类特殊情形下最优投资策略具有简单的(分片)线性反馈形式。这两类情形分别是:一类是服从任意分布的单个风险资产模型,另一类是服从椭圆分布的多个风险资产模型。也就是说,在这两种情形下分片幂函数型效用函数(S-型价值函数)对应于最优投资策略中的分片线性反馈机制。作为副产品,我们还发现引导出的每一期损失规避测度(induced loss aversion measure)具有时间单调性:它们会随着时间的推移而增大。这种单调性表明一个损失规避型投资者(loss-averse investor)的风险态度在他的整个投资周期里是随着时间变化而变化的。这也进一步为文献中关于投资期限效应(horizon effect)-长期投资者的投资策略是否应该与短期投资者的投资策略不同-这一长期争论的解决提供了线索。 / 在第二个研宄中,我们考察了动态参考水平(dynamic reference p o i n t ) 对于理解、刻画投资者在动态环境下的行为,以及他们的投资模式的作用。基于Arkes et al [2008, 2010]提出的人们看待损失和赢利的不同方式,我们在前景理论的框架下建立了一个参考水平的动态理论模型,并求出了对应的多期投资组合优化模型的半显示解。利用模型推导出来的最优持股股数的U-型属性,我们可以进一步说明人们在对待过去的损失和赢利时表现出来的非对称的自我调整方式与人们在股票交易中表现出来的非对称的交易行为-处置效应(disposition effect)-是有关联的。换句话说,动态参考水平的非对称调整方式在最优策略中表现为非对称的交易行为。我们的实验结果也进一步支持我们提出的理论模型。 / 除了时间维度的变化,我们有理由相信参考水平在空间维度也是不断变换的。作为社会性动物,我们的选择、决策不可避免地会受到身边亲朋好友的影响。我们的第三个研宄正是致力于考察这种社会互动过程。我们考察了PT型投资者与其它市场参与者(比如CRRA型投资者或者其它PT型投资者)的相互影响,以及他们的长期财富水平的收敛性_题。在一个PT型投资者与CRRA型投资者的互动模型中,PT型投资者明确知道CRRA型投资者的最优期末财富水平,并以此作为他的参考水平。如果PT型投资者的初始财富高于CRRA型投资者,那么他只要模仿CRRA型投资者的投资策略就可以保持优势,可以一直做得比CRRA型投资者好。另一方面,如果PT型投资者的初始财富低于CRRA型投资者,那么他只要采取一种“冒险投资策略就可以依然做得比CRRA型投资者好。当交易双方都是PT型投资者时,参考水平的选取可以有两种不同的方式:一种是,两个PT型投资者都以他们的平均财富作为参考水平;另一种是,两个PT型投资者以彼此的财富水平作为自己的参考水平。我们给出了在这两种方式下他们的长期财富得以收敛的充分条件。最后,我们讨论了在给定初始财富水平的情况下,交易双方如何选择最优参考水平的_题。我们从一个简单的博弈模型出发,得到了一个不是很令人满意的结果:在某些情况下均衡不存在。因而,将来我们需要寻找更好的模型去进一步探讨投资者间的这种社会互动与社会影响。 / The most fundamental aspect of the new paradigm of behavioral finance is the relevance of psychological insights in examining decision-making. However, this relevance is still in its early stage in the context of investment decision, especially in the context of dynamic portfolio selection. While the standard preference structure in Expected Utility Theory (EUT) leads to a tractable concave maximization formulation, the new psychological features of Kahneman and Tversky's Prospect Theory (PT), which is frequently applied in behavioral finance, often make related dynamic investment models non-convex and time inconsistent in the sense of optimization, thus intractable in general. Consequently, it is still not easy for us to properly apply insights from behavioral finance in the area of portfolio selection. The goal of this thesis is to translate some remarkable psychological insights associated with P T into investment details by including them in standard dynamic portfolio selection models and then reflecting them in the derived optimal policy. / To achieve this goal, this thesis is composed of three studies on investor behaviors and portfolio models. In the first study, we formulate and investigate a general multi period behavioral portfolio selection model under PT, featuring an S-shaped value function. Unlike the classical expected utility maximization model, a behavioral portfolio model could be easily ill-posed (i.e., infinitely leveraging an asset is optimal for the investor), as He and Zhou [2011] already noticed in their single-period model. Hence, we first discuss the ill-posedness issue and identify the conditions for the well-posedness under a multi-period framework. To be more specific, we show that the well-posedness of a multi-period portfolio selection problem can be characterized in terms of an induced loss aversion measure. Under these well-posedness conditions, we then derive the semi-analytical optimal policy. In particular, for a market of one risky asset or a market of multiple risky assets which follow the elliptical distributions, the optimal behavioral portfolio policy takes a (piecewise) linear feedback form. In other words, the piecewise power utility function (S-shaped value function) is reflected in the derived optimal policy in the form of a piecewise linear feedback policy. As a byproduct, we also find that the induced loss aversion measures for individual time periods tend to increase as the terminal time approaches. This monotonicity property, which implies a changing risk attitude of a loss-averse investor during his investment periods, may shed light on the debate of horizon effect: whether or not a long horizon investor should allocate his wealth differently from a short horizon investor. / In the second study, we investigate the role of dynamic reference point to understand investors' behavior and describe their investment patterns in dynamic situations. In the framework of P T preference, we formulate the dynamics of the reference point by relating it to the way people perceive prior gains and losses, as suggested by Arkes et al [2008, 2010], and then derive a semi-analytical solution for a reference point adapted multi-period portfolio selection model, featuring a piecewise linear utility. Based on an optimal U-shape stock holding property predicted by our model, we further build a linkage between the asymmetric updating rule in reference point adaptation and the asymmetric trading behavior, i.e., the disposition effect. In other words, the asymmetric adaptation of the reference point is reflected in the derived optimal policy in the form of an asymmetric trading pattern. Our experiment also supports the proposed theoretical model. / Besides variation in the time dimension, there are good reasons to believe that the reference point should also change in the spatial dimension. As social animals, our choices and decisions are Inevitably Influenced by our friends and neighbors. In the third study, we address the social interaction process in which PT preferences are influenced by other market participants, e.g., the regular CRRA (Constant Relative Risk Averse) investors or other PT investors, and then study the long run wealth convergence of the two trading parties: one PT agent vs. one CRRA agent or both agents are of PT types. In the one PT agent vs. one CRRA agent model, the PT agent knows the CRRA agent's optimal terminal wealth and takes it as his reference point. If the PT agent also starts with a higher initial wealth level than that of the CRRA agent, he will always do better than the CRRA agent by imitating the CRRA agent's policy. On the other hand, if the PT agent starts with a lower wealth level than that of the CRRA agent, he can still do better than the CRRA agent by adopting a “gambling policy. When both trading parties are PT type investors, we consider two types of reference points: either both PT agents take their average wealth as their reference point or they are mutual reference dependent. Under both situations, we give sufficient conditions on the long run wealth convergence. Finally, we discuss the question: what is the best reference point for both PT agents when their initial wealth levels are given? We start with a simple gamble model and conclude with an unsatisfactory result: no equilibrium pair exists in some situations. Thus, more research efforts are needed in this direction in the future. / Detailed summary in vernacular field only. / Detailed summary in vernacular field only. / Detailed summary in vernacular field only. / Detailed summary in vernacular field only. / Shi, Yun. / Thesis (Ph.D.)--Chinese University of Hong Kong, 2013. / Includes bibliographical references (leaves i-vi). / Abstracts also in Chinese. / Abstract --- p.i / Abstract in Chinese --- p.iv / Acknowledgements --- p.vii / Contents --- p.viii / Notations --- p.xii / List of Tables --- p.xvi / List of Figures --- p.xvii / Chapter 1. --- Introduction --- p.1 / Chapter 2. --- Discrete-time Behavioral Portfolio Selection under Prospect Theory --- p.7 / Chapter 2.1. --- Introduction --- p.7 / Chapter 2.2. --- Model Setting --- p.10 / Chapter 2.3. --- Markets with a Single Risky Asset --- p.15 / Chapter 2.4. --- Markets with Multiple Risky Assets following Elliptical Distribution --- p.24 / Chapter 2.5. --- Numerical Study --- p.33 / Chapter 2.6. --- Conclusion --- p.42 / Chapter 2.7. --- Appendices --- p.43 / Chapter 2.7.1. --- Proof of Proposition 2.1 --- p.43 / Chapter 2.7.2. --- Lemmas Used in the Proof of Proposition 2.4 --- p.44 / Chapter 2.7.3. --- Proof of Proposition 2.4 --- p.46 / Chapter 2.7.4. --- Proof of Theorem 2.3 --- p.49 / Chapter 2.7.5. --- Lemma Used in the Proof of Theorem 2.4 --- p.50 / Chapter 2.7.6. --- Proof of Theorem 2.4 --- p.51 / Chapter 3. --- Asymmetric Reference Point Adaptation and its Implication in Deriving the Disposition Effect --- p.56 / Chapter 3.1. --- Introduction --- p.56 / Chapter 3.2. --- Behavioral Portfolio Selection Model with Reference Point Adaptation --- p.61 / Chapter 3.2.1. --- Market Setting --- p.61 / Chapter 3.2.2. --- Self-justification and Positive Reinforcement Reference Point Adaptation --- p.62 / Chapter 3.2.3. --- Multi-period Utility Maximization with Reference Point Adaptation --- p.66 / Chapter 3.2.4. --- Solution to Problem (P) and U-shape Property --- p.68 / Chapter 3.2.5. --- Application: Asymmetric Reference Point Adaptation Drives an Asymmetric Trading Behavior --- p.73 / Chapter 3.3. --- Discussion: Why Asymmetric Adaptation Rule Matters? --- p.80 / Chapter 3.4. --- Experimental Study --- p.83 / Chapter 3.4.1. --- Experiment Method --- p.83 / Chapter 3.4.2. --- Participants --- p.84 / Chapter 3.4.3. --- Design and Procedure --- p.84 / Chapter 3.4.4. --- Hypotheses --- p.86 / Chapter 3.4.5. --- Summary Results --- p.87 / Chapter 3.4.6. --- Test of a Simple Version g(·) --- p.91 / Chapter 3.5. --- Alternative Formulation of Asymmetric Reference Point Adaptation --- p.92 / Chapter 3.5.1. --- Alternative Formulation --- p.92 / Chapter 3.5.2. --- Multi-period Portfolio Selection Model and its Solution --- p.94 / Chapter 3.6. --- Conclusion --- p.99 / Chapter 3.7. --- Appendices --- p.100 / Chapter 3.7.1. --- Proof of Theorem 3.1 --- p.100 / Chapter 3.7.2. --- Proof of Theorem 3.2 --- p.103 / Chapter 3.7.3. --- Instructions to Participants --- p.105 / Chapter 4. --- Interactive Formation of the Reference Point in a Game Model --- p.108 / Chapter 4.1. --- Introduction and Literature --- p.108 / Chapter 4.2. --- CRRA Agent vs. PT Agent --- p.112 / Chapter 4.2.1. --- Theoretical Model --- p.112 / Chapter 4.2.2. --- Toy Example-1: One-step Success? --- p.114 / Chapter 4.3. --- PT-1 Agent vs. PT-2 Agent --- p.118 / Chapter 4.3.1. --- Average Wealth as Reference Point --- p.118 / Chapter 4.3.2. --- Toy Example-2: Converge or Diverge? --- p.120 / Chapter 4.3.3. --- Mutual Reference Dependence --- p.122 / Chapter 4.3.4. --- Toy Example-3: Converge or Diverge? --- p.123 / Chapter 4.4. --- Optimal Reference Point Selection --- p.125 / Chapter 4.4.1. --- Situation 1: Both PTs with Aggressive Targets --- p.127 / Chapter 4.4.2. --- Situation 2: PT-1 Agent with Conservative Target, PT-2 Agent with Aggressive Target --- p.130 / Chapter 4.5. --- Conclusion and Future Work --- p.133 / Chapter 4.6. --- Appendices --- p.136 / Chapter 4.6.1. --- Proof of Theorem 4.5 --- p.136 / Chapter 4.6.2. --- Proof of Theorem 4.6 --- p.137 / Chapter 4.6.3. --- Proof of Theorem 4.7 --- p.138 / Chapter 4.6.4. --- Proof of Theorem 4.8 --- p.141 / Chapter 5. --- Conclusion --- p.144 / Bibliography --- p.i
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The house and its bonding channels : a study of the spiritual capacity of house elements.Bowen, Judith Louise Hundley January 1976 (has links)
Thesis. 1976. M.Arch.--Massachusetts Institute of Technology. Dept. of Architecture. / Microfiche copy available in Archives and Rotch. / Bibliography: leaves 279-285. / M.Arch.
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