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Gender Differences in Risk Preferences and Stereotypes: Experimental Evidence from a Matrilineal and a Patrilineal Society

Pondorfer, Andreas; Mahmoud, Toman Omar; Rehdanz, Katrin; … - Institut für Weltwirtschaft (IfW) - 2014

We use a controlled experiment to analyze gender differences in risk preferences and stereotypes about risk preferences …

Persistent link: https://www.econbiz.de/10010905566

Testing Independence Conditions in the Presence of Errors and Splitting Effects

Birnbaum, Michael H.; Schmidt, Ulrich; Schneider, Miriam D. - Institut für Weltwirtschaft (IfW) - 2010

models. We perform a repeated choice experiment and fit an error model that allows us to discriminate between true violations …

Persistent link: https://www.econbiz.de/10008631614

Allais Paradoxes Can be Reversed by Presenting Choices in Canonical Split Form

Birnbaum, Michael H.; Schmidt, Ulrich - Institut für Weltwirtschaft (IfW) - 2010

This paper tests Birnbaum’s (2004) theory that the constant consequence paradoxes of Allais are due to violations of coalescing, the assumption that when two branches lead to the same consequence, they can be combined by adding their probabilities. Rank dependent utility and cumulative...

Persistent link: https://www.econbiz.de/10008631616

Digit Ratio Measurement Guide

Homepage, Levent Neyse; Brañas-Garza, Pablo - Institut für Weltwirtschaft (IfW) - 2014

Literature on Digit Ratio is rapidly growing in Economics. Quite surprisingly we observe that there is no consensus about how to make an accurate measurement in such a delicate task. Along this brief document we offer some concise guidance of how to scan the hands using digital scanners and...

Persistent link: https://www.econbiz.de/10010886933

Siblings, not triplets: social preferences for risk, inequality and time in discounting climate change

Atkinson, Giles D.; Dietz, Simon; Helgeson, Jennifer; … - Institut für Weltwirtschaft (IfW) - 2009

Arguments about the appropriate discount rate often start by assuming a Utilitarian social welfare function with isoelastic utility, in which the consumption discount rate is a function of the (constant) elasticity of marginal utility along with the (much discussed) utility discount rate. In...

Persistent link: https://www.econbiz.de/10005083419

Paradoxes and Mechanisms for Choice under Risk

Cox, James C.; Sadiraj, Vjollca; Schmidt, Ulrich - Institut für Weltwirtschaft (IfW) - 2011

hypothesis or the independence axiom. We report two experiments with 710 subjects. Experiment 1 provides the first simple test of … the isolation hypothesis. Experiment 2 is a crossed design with six payoff mechanisms and five lottery pairs that can … implications of alternative decision theories. Experiment 2 provides tests of the isolation hypothesis and four paradoxes. It also …

Persistent link: https://www.econbiz.de/10009144796

Explaining the harmonic sequence paradox

Schmidt, Ulrich; Zimper, Alexander - Institut für Weltwirtschaft (IfW) - 2011

According to the harmonic sequence paradox (Blavatskyy 2006), an expected utility decision maker's willingness-to-pay for a gamble whose expected payoffs evolve according to the harmonic series is finite if and only if his marginal utility of additional income becomes zero for rather low payoff...

Persistent link: https://www.econbiz.de/10009216280

Insurance Demand and Prospect Theory

Schmidt, Ulrich - Institut für Weltwirtschaft (IfW) - 2012

Empirical evidence has shown that people are unwilling to insure rare losses at subsidized premiums and at the same time take-up insurance for moderate risks at highly loaded premiums. This paper explores whether prospect theory, in particular diminishing sensitivity and loss aversion, can...

Persistent link: https://www.econbiz.de/10009391896

Wechselkursunsicherheit und Außenhandel: Eine Analye der theoretischen Literatur

Fischer, Malte - Institut für Weltwirtschaft (IfW) - 1997

The impact of exchange rate uncertainty on international trade has been discussed controversially in economic policy and theory for a long time. The paper surveys the theoretical investigations on this topic. The early modeis which analyse the influence of exchange rate uncertainty on trade,...

Persistent link: https://www.econbiz.de/10009276144

Pricing risk and ambiguity: The effect of perspective taking

Trautmann, Stefan T.; Schmidt, Ulrich - Institut für Weltwirtschaft (IfW) - 2011

There is a large literature showing that willingness-to-accept (WTA) is usually much higher than willingness-to-pay (WTP) in empirical studies although they should be roughly equal according to traditional economic theory. A second stream of literature shows that people are typically ambiguity...

Persistent link: https://www.econbiz.de/10009276732