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Understanding the Two Components of Risk Attitudes: AnExperimental Analysis

Qiu, Jianying; Steiger, Eva-Maria - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009

Economics and management science share the tradition of ordering risk aversionby fitting the best expected utility (EU …) model with a certain utility function to in-dividual data, and then using the utility curvature for each individual as the … introduced the weighting of probabilities as anadditional component to capture risk attitude. However, if utility curvature and …

Persistent link: https://www.econbiz.de/10009022172

Bargaining Outside the Lab –A Newspaper Experiment of a Three-Person Ultimatum Game

Güth, Werner; Schmidt, Carsten; Sutter, Matthias - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2005

In a large scale newspaper experiment 5,132 readers of the German weekly, Die Zeit, participated in a three-person bargaining game. In our data analysis we focus on (1) the influence of age, gender, profession and the medium chosen for participation on bargaining behavior and on (2) the external...

Persistent link: https://www.econbiz.de/10005867078