between risk and uncertainty is implemented by applying the Gilboa-Schmeidler maxmin with multiple priors framework to lenders …

The paper reports the result of an experimental game on asset integration and risk taking. We find evidence that … winnings in earlier rounds affect risk taking in subsequent rounds, but no evidence that real life wealth outside the … experiment affects risk taking. We find some evidence of imitation of the risk taking behavior of others that is distinct from …

We analyse bidding behaviour in auctions when risk-averse buyers bid for a good whose value is risky. We show that when … risk in the valuations increases, DARA bidders will reduce their bids by more than the appropriate increase in the risk … marginal utility of income increases with risk, so buyers are reluctant to bid so highly. We also show that precautionary …

averse to risk and ambiguity. The evidence is largely correlational, however, leaving open the question of the direction of … causality. In this paper, we present experimental evidence of causation running from reliance on intuition to risk and ambiguity … lowers the probability of being ambiguity averse by 30 percentage points and increases risk tolerance by about 30 percent in …

features with prospect theory, namely, overweighting of small probability events (and corresponding underweighting of high …

Using a large sample of retail investors as well as experimental data we find that risk and ambiguity aversion are … positively correlated. We show the common link is decision style: intuitive thinkers tolerate more risk and ambiguity than … find that risk and ambiguity aversion vary with individual characteristics and wealth. The wealthy are less risk averse but …