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In an experiment that elicits subjects’ willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold …
Persistent link: https://www.econbiz.de/10014077011
eighteen years, in an incentivized experiment and relate experimental choices to field behavior. Experimental measures of …
Persistent link: https://www.econbiz.de/10013118350
This paper presents the results of an experiment that completely measures the utility function and probability … individuals are found to be more risk averse, in agreement with common findings. Unlike previous studies that ascribed gender …
Persistent link: https://www.econbiz.de/10010276981
possible outcome reporting bias using gender differences in risk attitudes. There is a strong consensus view in the …, however, does not support the consensus: only a tiny fraction of the replications displays gender differences. This striking … outcome reporting bias in the risk and gender literature. We find no evidence that the likelihood of reporting about gender …
Persistent link: https://www.econbiz.de/10010328757
, we run an experiment to test the model’s main predictions in a context where the researcher knows the true underlying …-median subjects. Similarly, gender differences in risk attitudes are considerably larger when restricting samples to subjects with …
Persistent link: https://www.econbiz.de/10013219070
We generalize the Rubinstein (1982) bargaining model by disentangling payoff delay from bargaining delay. We show that our extension is isomorphic to generalized discounting with dynamic consistency and characterize the unique equilibrium. Using a novel experimental design to control for various...
Persistent link: https://www.econbiz.de/10013314964
The ability to uncover preferences from choices is fundamental for both positive economics and welfare analysis. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm in applied microeconomics. However, as is well known, it...
Persistent link: https://www.econbiz.de/10012892249
We use a novel method to elicit and measure higher order risk preferences (prudence and temperance) in an experiment …
Persistent link: https://www.econbiz.de/10012823553
In a model inspired by neuroscience, we show that constrained optimal perception encodes lottery rewards using an S-shaped encoding function and over-samples low-probability events. The implications of this perception strategy for behavior depend on the decision-maker’s understanding of the...
Persistent link: https://www.econbiz.de/10013306853
interact in such situations. In this paper we provide experimental evidence on this question. In a first experiment givers are … the realized state of the world. In a second experiment, risk affects the earnings of givers but not of beneficiaries. We …
Persistent link: https://www.econbiz.de/10011584886