Narrow search
Showing 1 - 10 of 209
Cover Image
Myopic Loss Aversion Revisited: The Effect of Probability Distortions in Choice Under Risk
Blavatskyy, Pavlo; Pogrebna, Ganna - Institut für Volkswirtschaftslehre, …
alone cannot explain the observed investment decisions. …
Persistent link: https://www.econbiz.de/10005627807
Cover Image
Preference reversals and probabilistic choice
Blavatskyy, Pavlo R. - Institut für Volkswirtschaftslehre, … - 2008
Preference reversals occur when different (but formally equivalent) elicitation methods reveal conflicting preferences over two alternatives. This paper shows that when people have fuzzy preferences i.e. when they choose in a probabilistic manner, their observed decisions can generate systematic...
Persistent link: https://www.econbiz.de/10005627857
Cover Image
Reverse Common Ratio Effect
Blavatskyy, Pavlo R. - Institut für Volkswirtschaftslehre, … - 2010
The results of a new experimental study reveal highly systematic violations of expected utility theory. The pattern of these violations is exactly the opposite of the classical common ratio effect discovered by Allais (1953). Two recent decision theories— stochastic expected utility theory...
Persistent link: https://www.econbiz.de/10008625739
Cover Image
Evidence for countercyclical risk aversion: an experiment with financial professionals
Cohn, Alain; Engelmann, Jan; Fehr, Ernst; Maréchal, … - Institut für Volkswirtschaftslehre, … - 2013
A key ingredient of many popular asset pricing models is that investors exhibit countercyclical risk aversion, which … helps explain major economic puzzles such as the strong and systematic variation in risk premiums over time and the high … problems by priming financial professionals with either a boom or a bust scenario and by subsequently measuring their risk …
Persistent link: https://www.econbiz.de/10011240398
Cover Image
Generosity across contexts
Weber, Roberto A.; Davis, Alexander L.; Jehli, Nadja R.; … - Institut für Volkswirtschaftslehre, … - 2011
Extensive research in economics explores generosity in monetary allocations. However, generosity often involves the allocation of non-monetary goods or experiences. Existing evidence suggests that generosity may be higher in such contexts, though no direct comparison exists. Here, we compare...
Persistent link: https://www.econbiz.de/10011203012
Cover Image
How do informal agreements and renegotiation shape contractual reference points?
Fehr, Ernst; Hart, Oliver; Zehnder, Christian - Institut für Volkswirtschaftslehre, … - 2011
Previous experimental work provides encouraging support for some of the central assumptions underlying Hart and Moore (2008)’s theory of contractual reference points. However, existing studies ignore realistic aspects of trading relationships such as informal agreements and ex post...
Persistent link: https://www.econbiz.de/10009358972
Cover Image
Pivotality and responsibility attribution in sequential voting
Bartling, Björn; Fischbacher, Urs; Schudy, Simeon - Institut für Volkswirtschaftslehre, … - 2014
This paper analyzes responsibility attributions for outcomes of collective decision making processes. In particular, we ask if decision makers are blamed for being pivotal if they implement an unpopular outcome in a sequential voting process. We conduct an experimental voting game in which...
Persistent link: https://www.econbiz.de/10011272198
Cover Image
Betting on Own Knowledge: Experimental Test of Overconfidence
Blavatskyy, Pavlo R. - Institut für Volkswirtschaftslehre, … - 2008
compatible mechanism is used. Their confidence in own knowledge does not depend on their attitude towards risk/ambiguity. …
Persistent link: https://www.econbiz.de/10005463538
Cover Image
Measuring Social Norms and Preferences using Experimental Games: A Guide for Social Scientists
Camerer, Colin F.; Fehr, Ernst - Institut für Volkswirtschaftslehre, …
Experimental games turned out to be remarkably productive tools for examining the nature of social preferences and social norms. This paper describes the methods and tools of experimental game theory and provides a selection of games that have been useful. We also discuss the role of...
Persistent link: https://www.econbiz.de/10005585655
Cover Image
Lottery pricing under time pressure
Blavatskyy, Pavlo R.; Köhler, Wolfgang R. - Institut für Volkswirtschaftslehre, … - 2009
This paper investigates how subjects determine minimum selling prices for lotteries. We design an experiment where …
Persistent link: https://www.econbiz.de/10004994192