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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/10012270596
This paper presents the results of an experiment that completely measures the utility function and probability …
Persistent link: https://www.econbiz.de/10003824984
under risk ; large losses ; natural experiment …
Persistent link: https://www.econbiz.de/10009571117
Most large-scale economic experiments use a between-subjects random incentive system-BRIS-which selects a subset of the participants at random and offers real payment only to the selected participants. We evaluate the relative impact of nominal payoffs and the selection probability on the...
Persistent link: https://www.econbiz.de/10011500169
very low costs of cancelling an initiated purchase process. In a field experiment with more than 34,000 consumers, we find …
Persistent link: https://www.econbiz.de/10011962343
We examine the risky choices of pairs of contestants in a popular radio game show in France. At one point during the COVID-19 pandemic the show, held in person, had to switch to an all-remote format. We find that such an exogenous change in social context affected risk-taking behavior. Remotely,...
Persistent link: https://www.econbiz.de/10013440406
We formulate a general theory of preferences over outcome-time-probability triplets and decompose uncertainty into risk and hazard. We define the delay, defer, shift and certainty functions that can be uniquely elicited from behaviour. These individually determine stationarity, the common...
Persistent link: https://www.econbiz.de/10012599133
eighteen years, in an incentivized experiment and relate experimental choices to field behavior. Experimental measures of …
Persistent link: https://www.econbiz.de/10009375050
parameter. We conclude that in the case of lotteries with big prizes a simultaneous estimate of risk aversion and time …
Persistent link: https://www.econbiz.de/10011507761
an incentivized experiment. While intertemporal choices in the control group exhibit significant present bias, choices …
Persistent link: https://www.econbiz.de/10010388672