Showing 1 - 10 of 47
In this paper the authors assess the importance of sample type in the estimation of risk preferences. The authors … elicit and compare risk preferences from student subjects and subjects drawn from the general population, using the multiple … price list method devised by Holt and Laury (Risk aversion and incentive effects, 2002). The authors find evidence …
Persistent link: https://www.econbiz.de/10010956059
In an intensively discussed paper, Andreoni and Sprenger (2012) , henceforth A&S, present an experiment where subjects … can allocate money between two different points of time under the condition of risk. A&S claim that their results refute …
Persistent link: https://www.econbiz.de/10010886922
. The analysis on ultimatum game experiment reveals an evidence for utility threshold and thus supports Bernoulli's utility … description of commodity choice and the power law for risk choice. The further mathematical demonstration indicates the …
Persistent link: https://www.econbiz.de/10009370689
The study tests the cardinal utility maximization hypothesis by an experimental procedure in a framework of utility scaling approach following the psychophysical-econometric paradigm, conceived in He (Psychophysical Interpretation for Utility Measures, 2011). It reveals (i) the utility...
Persistent link: https://www.econbiz.de/10010956086
focuses on context-specific empirical studies. We use a public good game experiment with endogenous groups to investigate how …
Persistent link: https://www.econbiz.de/10010886860
Seminal models of herd behaviour and informational cascades point out existence of negative information externalities, and propose to ?destroy? information in order to achieve social improvements. Although in the last years many features of herd behaviour and informational cascades have been...
Persistent link: https://www.econbiz.de/10005083407
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
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
individuals’ attitudes toward risk. It challenges the conventional view that the random lottery incentive mechanism introduces no … biases in inducing risk preferences …
Persistent link: https://www.econbiz.de/10010886962
This paper is concerned with the axiomatic foundation of the revealed preference theory. Many well-known results in literature rest upon the ability to choose over budget sets that contains only 2 or 3 elements, the situations which are not observable in real life. In order to give a more...
Persistent link: https://www.econbiz.de/10010956032