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Skewness preferences : evidence from online poker
Dertwinkel-Kalt, Markus; Kasinger, Johannes; Schneider, … - 2024
We test for skewness preferences in a large set of observational panel data on online poker games (n=4,450,585). Each observation refers to a choice between a safe option and a binary risk of winning or losing the game. Our setting offers a real-world choice situation with substantial incentives...
Persistent link: https://www.econbiz.de/10014486803
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Lattices and lotteries in apportioning risk
Schlesinger, Harris - 2014
Eeckhoudt and Schlesinger (2006), based upon simple lottery preference. This article show how the mathematics of lattice theory …
Persistent link: https://www.econbiz.de/10010431278
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Quantifying lottery choice complexity
Enke, Benjamin; Shubatt, Cassidy - 2023
We develop interpretable, quantitative indices of the objective and subjective complexity of lottery choice problems that can be computed for any standard dataset. These indices capture the predicted error rate in identifying the lottery with the highest expected value, where the predictions are...
Persistent link: https://www.econbiz.de/10014340230
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Risk-taking-neutral background risk
Franke, Günter; Schlesinger, Harris; Stapleton, Richard C. - 2013
We define a class of risk-taking-neutral (RTN) background risks. These background risks have the property that they will not alter decisions made with respect to another risk, for individuals with HARA utility. If we wish to compare a decision made with and without some exogenous background...
Persistent link: https://www.econbiz.de/10009690709
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Peer effects in risk taking
Lahno, Amrei M.; Serra-Garcia, Marta - 2012 - This version: Dec 20, 2012, First version: July 13, 2012
This paper examines the effect of peers on individual risk taking. In the absence of informational motives, we investigate why social utility concerns may drive peer effects. We test for two main channels: utility from payoff differences and from conforming to the peer. We show experimentally...
Persistent link: https://www.econbiz.de/10009691154
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Cognitive imprecision and stake-dependent risk attitudes
Khaw, Mel Win; Li, Ziang; Woodford, Michael - 2022
In an experiment that elicits subjects' willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold pattern of risk attitudes described by Kahneman and Tversky. In addition, we document a systematic effect of stake sizes on the magnitude and sign of the relative risk premium,...
Persistent link: https://www.econbiz.de/10013364933
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Eliciting preferences for risk and altruism : experimental evidence
Gauriot, Romain; Heger, Stephanie A.; Slonim, Robert - 2022
We apply the basic lessons and insights learned in the elicitation and estimation of risk and time preferences literature to the literature on social preferences. Following Andersen et al. (2008), we design a laboratory experiment to jointly elicit risk preferences and preferences for altruism....
Persistent link: https://www.econbiz.de/10013390940
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Explaining the favorite-longshot bias : is it risk-love or misperceptions?
Snowberg, Eric; Wolfers, Justin - 2010
The favorite-longshot bias describes the longstanding empirical regularity that betting odds provide biased estimates of the probability of a horse winning - longshots are overbet, while favorites are underbet. Neoclassical explanations of this phenomenon focus on rational gamblers who overbet...
Persistent link: https://www.econbiz.de/10003965888
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Looming large or seeming small? : attitudes towards losses in a representative sample
Chapman, Jonathan; Snowberg, Erik; Wang, Stephanie; … - 2022
prevalent in people with high cognitive ability. Loss-tolerant individuals are more likely to report recent gambling and to have …
Persistent link: https://www.econbiz.de/10013284901
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Using spatial distribution of outlets to estimate gambling incidence
Dahan, Momi - 2017
The paper proposes a simple and innovative methodology for measuring the incidence of gambling expenditure in countries … merging data on the geographical location of gambling outlets, together with residents' socio-economic and demographic … results and yields a measure of -0.42, which implies that the implicit tax associated with gambling is highly regressive. …
Persistent link: https://www.econbiz.de/10011700247