unknown value. A winner’s curse phenomenon arises when subjects bid too high and make losses. Learning direction theory can … account for this. However, other influences on behaviour can also be identified. We introduce impulse balance theory to make … quantitative predictions on the basis of learning direction theory. We also look at monotonic ladder processes. It is shown that …

We propose an experimental method to test individuals for prudence (i.e. downside risk aversion) outside the expected …

approach is not based on expected utility theory. In our experiment we find evidence for risk aversion, prudence and temperance …We propose a method to measure the intensity of risk aversion, prudence (downside risk aversion) and temperance (outer … risk aversion) in experiments. Higher-order risk compensations are defined within the proper risk apportionment model of …

This study test whether social reference points impact individual risk taking. In a laboratory experiment, decision … across two treatments. We find a significant treatment effect on risk taking: decision makers vary their risk taking in order … of private reference points on risk taking. …

This study test whether social reference points impact individual risk taking. In a laboratory experiment, decision … across two treatments. We find a signicant treatment effect on risk taking: decision makers vary their risk taking in order … of private reference points on risk taking. …

We propose an experimental method to test individuals for prudence (i.e. downside risk aversion) outside the expected …

unknown value. A winner’s curse phenomenon arises when subjects bid too high and make losses. Learning direction theory can … account for this. However, other influences on behaviour can also be identified. We introduce impulse balance theory to make … quantitative predictions on the basis of learning direction theory. We also look at monotonic ladder processes. It is shown that …

approach is not based on expected utility theory. In our experiment we find evidence for risk aversion, prudence and temperance …We propose a method to measure the intensity of risk aversion, prudence (downside risk aversion) and temperance (outer … risk aversion) in experiments. Higher-order risk compensations are defined within the proper risk apportionment model of …