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Valuing A Risky Prospect Less Than Its Worst Outcome: Uncertainty Effect or Task Ambiguity?

Ortmann, Andreas; Prokosheva, Alexandra; Rydval, Ondřej; … - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007

Gneezy, List and Wu [Q. J. Econ. 121 (2006) 1283-1309] document that lotteries are often valued less than the lotteries’ worst outcomes. We show how to undo this result.

Persistent link: https://www.econbiz.de/10005866586

Valuing Protection against Low Probability,High Loss Risks: Experimental Evidence

Morone, Andrea; Ozdemir, Ozlem - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006

than to the variation in loss amountswhen they decide whether to buy the protective measure or not: choice decision. Yet …, theopposite is true when they decide the amount of willingness to pay for buying the protectivemeasure: payment decision. In …

Persistent link: https://www.econbiz.de/10005866644

Individual and Couple Decision Behavior under Risk:The Power of Ultimate Control

de Palma, André; Picard, Nathalie; Ziegelmeyer, Anthony - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008

decision process that takes place when couples make risky decisions. We find that in mostcouples men have more decision …-making power than women and that women’s decision-makingpower increases when they ultimately implement the joint decisions. …

Persistent link: https://www.econbiz.de/10005866693

Satisficing or Optimizing?An Experimental Study

Fellner, Gerlinde; Güth, Werner; Martin, Ev - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006

theoretical approach, namelysatisficing or optimality, applicable. Then, they are guided throughthe decision making process where … measured by the adjustments of personal parametersuntil accepting the investment decision suggested by theory.Additionally, a …

Persistent link: https://www.econbiz.de/10005866712

Illusion of control as a source of poor diversification: Anexperimental approach

Fellner, Gerlinde - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004

This paper investigates factors influencing individual portfolio allocations withparticular focus on the role of illusion of control. By forming their portfolio of tworisky lotteries and one risk-less alternative, subjects are requested to reach a targetinvestment profit, whereby equal...

Persistent link: https://www.econbiz.de/10005866777

Does Cascade Behavior Reflect Bayesian Updating? - An Experimental Study

Oberhammer, Clemens; Stiehler, Andreas - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003

decision errors. Focusing on stated price limits corresponding to urn predictions in line with both, standard and error BHW …

Persistent link: https://www.econbiz.de/10005866982

Overconfidence in Investment Decisions:An Experimental Approach

Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2001

We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute their own for alternative investment choices.Overall, 149 subjects participated in two experiments, one with just one risky asset, the other with two risky assets. Overconfidence...

Persistent link: https://www.econbiz.de/10005867326