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. …

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 …

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 …

?Although investment does not converge as predicted, portfolios of informedagents reect the probabilities of states, and even uninformed …

This paper reports results of an experiment designed to analyze the link between riskydecisions made by couples and … risky decisions made separately by each spouse. We estimateboth the spouses and the couples’ degrees of risk aversion and we … assess how the risk preferencesof the two spouses aggregate when they make risky decisions. This enables us to investigatethe …

In the framework of expected utility theory, risk attitudes are entirely capturedby the curvature of the utility … thismodication, one question arises naturally: since both utility and probability weight-ing determine the attitude towards risk …, what is the relation between them? Weran a controlled laboratory experiment to answer this question. Our ndings suggestthat …