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High stakes behavior with low payoffs: Inducing preferences with Holt–Laury gambles
Dickhaut, John; Houser, Daniel; Aimone, Jason A.; Tila, … - In: Journal of Economic Behavior & Organization 94 (2013) C, pp. 183-189
Kahneman and Tversky (1979) argued that risky decisions in high stakes environments can be informed using questionnaires with hypothetical choices. Yet results by Holt and Laury (2002) suggest that questionnaire responses and decisions in hypothetical and low monetary payoff environments do not...
Persistent link: https://www.econbiz.de/10010719274
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Investment, resolution of risk, and the role of affect
van Winden, Frans; Krawczyk, Michal; Hopfensitz, Astrid - In: Journal of Economic Psychology 32 (2011) 6, pp. 918-939
This experimental study is concerned with the impact of the timing of the resolution of risk on investment behavior, with a special focus on the role of affect. In a between-subjects design, we observe the impact of a substantial delay of risk resolution (2days) on investment choices. Besides...
Persistent link: https://www.econbiz.de/10010870868
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Investment, Resolution of Risk, and the Role of Affect
Hopfensitz, Astrid; Krawczyk, Michal; Winden, Frans … - C.E.P.R. Discussion Papers - 2008
-based questionnaire before the experiment and participants’ preferences for resolution timing, risk, and time were incentive compatibly … measured during the experiment. Main findings are that delayed resolution can affect investment, that the effect depends on the …
Persistent link: https://www.econbiz.de/10005124205
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The disposition effect and loss aversion: Do gender differences matter?
Rau, Holger A. - In: Economics Letters 123 (2014) 1, pp. 33-36
This paper analyzes gender differences in the disposition effect in an experiment based on Weber and Camerer (1998 …
Persistent link: https://www.econbiz.de/10010743733
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Strong Evidence for Gender Differences in Risk Taking
Charness, Gary; Gneezy, Uri - In: Journal of Economic Behavior & Organization 83 (2012) 1, pp. 50-58
Are men more willing to take financial risks than women? The answer to this question has immediate relevance for many economic issues. We assemble the data from 15 sets of experiments with one simple underlying investment game. Most of these experiments were not designed to investigate gender...
Persistent link: https://www.econbiz.de/10010573061
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Reducing within-group overconfidence through group identity and between-group confidence judgments
Brookins, Philip; Lucas, Adriana; Ryvkin, Dmitry - In: Journal of Economic Psychology 44 (2014) C, pp. 1-12
the relative standing of their group among other groups. On average, individuals exhibit overconfidence bias in both types …, the salience of between-group judgments should mitigate within-group overconfidence. Our second hypothesis is that within …-group overconfidence is reduced in the presence of group identity. Using a 2×2 between-subject design, we test, and find strong support for …
Persistent link: https://www.econbiz.de/10011051357
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How unaware are the unskilled? Empirical tests of the “signal extraction” counterexplanation for the Dunning–Kruger effect in self-evaluation of performance
Schlösser, Thomas; Dunning, David; Johnson, Kerri L.; … - In: Journal of Economic Psychology 39 (2013) C, pp. 85-100
Previous work on the Dunning–Kruger effect has shown that poor performers often show little insight into the shortcomings in their performance, presumably because they suffer a double curse. Deficits in their knowledge prevent them from both producing correct responses and recognizing that the...
Persistent link: https://www.econbiz.de/10011051336
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Resolving persistent uncertainty by self-organized consensus to mitigate market bubbles
Sornette, Didier; Andraszewicz, Sandra; Murphy, Ryan O.; … - 2016
We propose a new paradigm to study coordination in complex social systems, such as financial markets, that accounts for fundamental uncertainty. This new context has features from prediction markets that have been shown previously to mitigate price bubbles in classical asset market experiments....
Persistent link: https://www.econbiz.de/10011514493
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Bimodal bidding in experimental all-pay auctions
Ernst, Christiane; Thöni, Christian - In: Games 4 (2013) 4, pp. 608-623
We report results from experimental first-price, sealed-bid, all-pay auctions for a good with a common and known value. We observe bidding strategies in groups of two and three bidders and under two extreme information conditions. As predicted by the Nash equilibrium, subjects use mixed...
Persistent link: https://www.econbiz.de/10010240829
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Patient preferences and treatment thresholds under diagnostic risk : an economic laboratory experiment
Krieger, Miriam; Mayrhofer, Thomas - 2012
We study risk aversion and prudence in medical treatment decisions. In a laboratory experiment, we investigate the … aversion ; prudence ; laboratory experiment …
Persistent link: https://www.econbiz.de/10009579277