) the reference point in a risk-free environment behave risk averse (seeking) in risky environments. In a second experiment …We conduct laboratory experiments to investigate basic predictions of principal-agent theory about the choice of piece … rate contracts in the presence of output risk, and provide novel insights that reference dependent preferences affect the …

punish, which in turn reduces the deterrence effect of high fines. Using a laboratory experiment, we identify these effects … hypotheses derived from the theory. …

In addition to discrimination, market power, and human capital, gender differences in risk preferences might also … in any given period. Subjects were informed of the exogenous risk premium being offered for the risky job. Women were … gap in the experiments. That women were more risk averse than men was also manifest in the Pratt-Arrow Constant Absolute …

stronger distaste for low relative wealth translates into reduced relative risk aversion and, consequently, into riskier … prone to divorce exhibit risk-taking behavior that is more similar to that of single men than married men in environments …

framework. We test the model's predictions in a laboratory experiment. Both in theory and in the experiment diagnostic … uncertainty decreases the rate of efficient service provision and leads to less trade. In theory, insurance also decreases the … net effect on welfare. In the experiment, the net effect of insurance coverage on efficiency turns out to be positive. We …

although risk can be measured, uncertainty cannot be measured. Even though risk can be measured, a simple symmetric measure … attempt at "measuring" risk or (fundamental) uncertainty is flawed. …