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Incentive effects on risk attitude in small probability prospects
Lefebvre, Mathieu; Vieider, Ferdinand M.; Villeval, … - 2009
prospects in a laboratory experiment. Under low stakes, we find the typical risk seeking behavior for small probabilities … section for very small amounts. -- Risk attitude ; incentives ; decision ; experiment …
Persistent link: https://www.econbiz.de/10003910085
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Explaining the favorite-longshot bias : is it risk-love or misperceptions?
Snowberg, Erik; 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/10003958768
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Narrow bracketing and dominated choices
Rabin, Matthew (contributor); Weizsäcker, Georg (contributor) - 2007
An experiment by Tversky and Kahneman (1981) illustrates that people's tendency to evaluate risky decisions separately …. The theory is accompanied by both a real-stakes laboratory experiment and a large-sample survey from the general U ….S. population. Replicating Tversky and Kahneman's original experiment where decisionmakers with prototypical prospect …
Persistent link: https://www.econbiz.de/10003561617
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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/10003831223
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Asset integration, risk taking and loss aversion in the laboratory
Morrison, William G.; Oxoby, Robert J. - 2019
We report on a laboratory experiment testing for the presence of loss aversion, as separate from risk aversion …
Persistent link: https://www.econbiz.de/10011997618
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Ambiguity on audits and cooperation in a public goods game
Dai, Zhixin; Hogarth, Robin M.; Villeval, Marie-Claire - 2014
We investigate the impact of various audit schemes on the future provision of public goods, when contributing less than the average of the group is sanctioned exogenously and the probability of an audit is unknown. We study how individuals update their beliefs about the probability of being...
Persistent link: https://www.econbiz.de/10010239265
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Voluntary contributions to the establishment and operation of public goods : theory and experimental evidence
Arbel, Yuval; Bar-El, Ronen; Schwarz, Mordechai E.; … - 2014
We study the dynamics of the private provision of a public good that requires both capacity buildup and ongoing operating costs. We show that setting a time limit for the collection of contributions dedicated to capacity buildup minimizes the utility loss at the Nash equilibrium. We test the...
Persistent link: https://www.econbiz.de/10010413626
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To what do people contribute? : ongoing operations vs. sustainable supplies
Arbel, Yuval; Bar-El, Ronen; Schwarz, Mordechai E.; … - 2019
Attempts to curb illegal activity through regulation gets complicated when agents can adapt to circumvent enforcement. Economic theory suggests that conducting audits on a predictable schedule, and (counter-intuitively) at high frequency, can undermine the effectiveness of audits. We conduct a...
Persistent link: https://www.econbiz.de/10011985963
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Trust and trustworthiness under the prospect theory : a field experiment in Vietnam
Nguyen, Quang; Villeval, Marie-Claire; Xu, Hui - 2012
We study the influence of risk and time preferences on trust and trustworthiness by conducting a field experiment in … Theory ; Vietnam ; field experiment …
Persistent link: https://www.econbiz.de/10009621801
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Household behavioral preferences and the child labor-education trade-off : framed field experimental evidence from Ethiopia
Basu, Arnab K.; Dimova, Ralitza - 2020
Using data from the Rural Ethiopian Household Survey, which contains a behavioral module, we explore the link between adult risk and time preferences and the incidence and the intensity of child labor. While as expected child labor at both the extensive and the intensive margin is a result of...
Persistent link: https://www.econbiz.de/10012179388