experiments, we compare people's initial risk-taking plans to their subsequent decisions. Across settings, people accept risk as … part of a "loss-exit" strategy--planning to continue taking risk after gains and stopping after losses. Actual behavior … deviates from initial strategies by cutting gains early and chasing losses. More people accept risk when offered a commitment …

-range probability than is proposed by the expected utility model and risk-seeking behavior over "long-shot" odds is common …

this phenomenon focus on rational gamblers who overbet longshots due to risk-love. The competing behavioral explanations …

We examine the relationship between the price of giving and the decision to contribute in a framed field experiment (n …

We conduct a stated-choice experiment where respondents are asked to rate various insurance products aimed to protect … the low observed take-up of long-term care insurance in Canada despite substantial residual out-of-pocket financial risk … risk, lack of bequest motive and home ownership which may act as a substitute …

, and predictability of stock returns. The key to our results is that the agent's risk-aversion changes over time as a …

We present a new model of asset prices in which investors evaluate risk according to prospect theory and examine its …