In this paper we analyse the empirical performance of several preference functionals using individual and group data. Our investigation aims to address two fundamental questions that have, until now, not been addressed in literature. Specifically, we intend to assess if there exists a risky...

This paper provides an experimental test of the traveller’s dilemma using individual and group data. Our investigation aims to address three fundamental research questions, which can be summarised as follows: (i) claims are affected by the size of the penalty/reward; (ii) individual decisions...

A theory is said to be fully absorbable whenever its own acceptance by all of the individuals belonging to a certain population does not question its predictive validity. This accounts for strategic equilibria and can be related to the logic underlying convergence of behaviour and intentional...

This experimental study investigates insurance decisions in low-probability, high-loss risk situations. Results indicate that subjects consider the probability of loss (loss size) when they make buying decisions (paying decisions). Most individuals are risk averse with no specific threshold...

The aim of this paper is to analyse the trade-off between parking space availability and cost, in terms of time saving. This information is pivotal when designing parking policies in terms of fares, investments and regulation. A relevant body of literature has focused on parking behaviour (e.g....

This note focuses on the role of the planning horizon in monetary policy games. We analyze the case of an uncertain horizon of the monetary policy game that has not been considered, yet. In addition to that we will - different from the basic Barro-Gordon-model - assume a quadratic loss function...