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Overconfidence in investment decisions : an experimental approach
Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - 2001
We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute their own for alternative investment choices. Overall, 149 subjects participated in two experiments, one with just one risky asset, the other with two risky assets. Overconfidence...
Persistent link: https://www.econbiz.de/10011408444
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Determinants of trust : the role of personal experiences
Schwerter, Frederik; Zimmermann, Florian - 2019
Social interactions pervade daily life and thereby create an abundance of social experiences. Such personal experiences likely shape what we believe and who we are. In this paper, we ask if and how personal experiences from social interactions determine individuals' inclination to trust others?...
Persistent link: https://www.econbiz.de/10011987073
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Axiom preferences and choice mistakes under risk
Herweg, Fabian; Hippel, Svenja; Müller, Daniel; … - 2024
We investigate whether violations of canonical axioms of choice under risk are mistakes or a manifestation of true preferences. First, we elicit axiom and gamble preferences and then allow subjects to revise their potentially conflicting preferences. Among the behavioral patterns that allow for...
Persistent link: https://www.econbiz.de/10014556632
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Revealed incomplete preferences under uncertainty
Cettolin, Elena; Riedl, Arno - 2015
The completeness axiom of choice has been questioned for long, and in response, theoretical models of decision making allowing for incomplete preferences have been developed. So far the theoretical accomplishments have however not been paired with empirical evidence on the actual existence of...
Persistent link: https://www.econbiz.de/10010519933
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Giving in the face of risk
Cettolin, Elena; Riedl, Arno; Tran, Giang - 2016
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/10011565561
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Too lucky to be true : fairness views under the shadow of cheating
Bortolotti, Stefania; Soraperra, Ivan; Sutter, Matthias; … - 2017
experiment, we let third parties redistribute resources between two stakeholders who could earn money either by choosing a safe …
Persistent link: https://www.econbiz.de/10011674398
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A parametric analysis of prospect theory's functionals for the general population
Booij, Adam S.; Praag, Bernard M. S. van; Kuilen, Gijs … - 2009
This paper presents the results of an experiment that completely measures the utility function and probability …
Persistent link: https://www.econbiz.de/10003824984
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Investment, resolution of risk, and the role of affect
Winden, Frans A. A. M. van; Krawczyk, Michal; … - 2010
-based questionnaire before the experiment and participants' preferences for resolution timing, risk, and time were incentive compatibly … measured during the experiment. Main findings are that delayed resolution can affect investment, that the effect depends on the … not captured by existing models. -- investment decision ; delayed resolution of risk ; emotions ; experiment …
Persistent link: https://www.econbiz.de/10003942107
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An experimental investigation of risk sharing and adverse selection
Tausch, Franziska; Potters, Jan; Riedl, Arno - 2013
Does adverse selection hamper the effectiveness of voluntary risk sharing? How do differences in risk profiles affect adverse selection? We experimentally investigate individuals ́willingness to share risks with others. Across treatments we vary how risk profiles differ between individuals. We...
Persistent link: https://www.econbiz.de/10009730552
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Measuring individual risk attitudes in the lab : task or ask? ; an empirical comparison
Lönnqvist, Jan-Erik; Verkasalo, Markku; Walkowitz, Gari; … - 2014
This paper compares two prominent empirical measures of individual risk attitudes - the Holt and Laury (2002) lottery-choice task and the multi-item questionnaire advocated by Dohmen, Falk, Huffman, Schupp, Sunde and Wagner (2011) - with respect to (a) their within-subject stability over time...
Persistent link: https://www.econbiz.de/10010250131