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A Note on Skewness Seeking:An Experimental Analysis

Brünner, Tobias; Levinsky, Rene; Qiu, Jianying - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007

In this paper we experimentally test skewness seeking at the individuallevel. Several prospects that can be ordered …

Persistent link: https://www.econbiz.de/10005866533

Do investors optimize, follow heuristics, or listen toexperts?

Gehring, Thomas; Güth, Werner; Levinsky, Rene; Popova, Vera - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008

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

Persistent link: https://www.econbiz.de/10005866439

Valuing Protection against Low Probability,High Loss Risks: Experimental Evidence

Morone, Andrea; Ozdemir, Ozlem - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006

measure,(3)calculates relative risk aversion. The results of the experiment indicate that as theprobability of loss and loss …The study investigates protective responses in low probability and high loss risk situations.Particularly, it (1 … women) are found to be risk aversefor low probabilities. …

Persistent link: https://www.econbiz.de/10005866644

Voluntary contributions with imperfect information:An experimental study

Fiore, Annamaria; Levati, M. Vittoria; Morone, Andrea - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006

examine the effect of imperfect information on contributions levels. To assess prior risk attitudes, individual valuations of … clear evidence of risk aversion, and of a negative relationship between the latter and willingness to cooperate. …

Persistent link: https://www.econbiz.de/10005866650

Costly bargaining and renegotiation

Anderlini, Luca; Felli, Leonardo - London School of Economics (LSE) - 1998

We identify the inefficiencies that arise when negotiation between two parties takes place in the presence of transaction costs. First, for some values of these costs it is efficient to reach an agreement but the unique equilibrium outcome is one in which agreement is never reached. Secondly,...

Persistent link: https://www.econbiz.de/10010928645

Transaction costs and the robustness of the Coase Theorem

Anderlini, Luca; Felli, Leonardo - London School of Economics (LSE) - 2000

This paper explores the extent to which the presence of ex-ante transaction costs may lead to failures of the Coase Theorem. In particular we identify and investigate the basic ‘hold-up problem’ which arises whenever the parties to a Coasian negotiation have to pay some ex-ante costs for the...

Persistent link: https://www.econbiz.de/10010745037

Costly coasian contracts

Anderlini, Luca; Felli, Leonardo - London School of Economics (LSE) - 1998

We identify and investigate the basic ‘hold-up problem’ which arises whenever each party to a contract has to pay some ex-ante cost for the contract to become feasible. We then proceed to show that, under plausible circumstances, a ‘contractual solution’ to this hold-up problem is not...

Persistent link: https://www.econbiz.de/10010745370

On the Absorbability of the Guessing Game Theory -A Theoretical and Experimental Analysis

Morone, Andrea; Sandri, Serena; Uske, Tobias - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006

absorptionand experimentally test the effects of informing none, some, or all playersabout how to derive equilibrium predictions. …

Persistent link: https://www.econbiz.de/10005866646

I want to know:Willingness to pay for unconditional veto power

Gehrig, Thomas; Güth, Werner; Levinsky, Rene; Uske, Tobias - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006

In the Yes/No game, like in the ultimatum game, proposer and respondercan share a monetary reward. In both games the proposer suggests a rewarddistribution which the responder can accept or reject (yielding 0-payoffs). Thegames only differ in that the responder does (not) learn the suggested...

Persistent link: https://www.econbiz.de/10005866695

Preference reversals and the analysis of income distributions

Amiel, Yoram; Cowell, Frank; Davidovitz, Leima; … - London School of Economics (LSE) - 2003

It is known from the literature on uncertainty that in cases where individuals express a preference for a high win-probability bet over a bet with high winnings they nevertheless will bid more to obtain the bet with high winnings. We investigate whether a similar phenomenon applies in the...

Persistent link: https://www.econbiz.de/10010928778