illusion of control. By forming their portfolio of tworisky lotteries and one risk-less alternative, subjects are requested to … investment. Also, offering adefault portfolio strongly determines final allocations. …

We study time preferences in a real-effort experiment with a one-month horizon. We report thattwo thirds of choices …

In this paper we relate individual risk attitude as elicited by binary lotteriesand certainty equivalents to market … equivalents are poorly correlated. Only lottery choices are relatedto market behavior: the higher the degree of risk aversion the … lower theobserved market activity. Females are more risk averse than males accordingto binary lotteries, submit fewer offers …

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 …

more in such stocks”. We conducted an experimentin Jena, Germany to test whether subjects show local bias and use … familiar but not local stocks. Our experiment showsno evidence that familiarity is a reason for local bias. …

How do people make investment decisions when they receive outcome feedback? We examinedhow well the standard mean … risk and covariance of the investments into account. The experimental results illustrate thatpeople reacted sensitively to … different correlation structures of the investment alternatives, whichwas best predicted by the extended reinforcement model …

The results of an asset market experiment, in which 64 subjects trade two assets oneight markets in a computerized …

We propose an experimental design allowing a behavioral test of the axiom ofcompleteness of individual preferences. The … preferences are significantly incomplete. We use lotteries as choice alternatives and we find that risk aversion is globally …