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Explaining the Favorite-Longshot Bias : Is it Risk-Love or Misperceptions?
Snowberg, Erik C. - 2011
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/10013133624
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Time Will Tell : Recovering Preferences When Choices are Noisy
Alós-Ferrer, Carlos - 2018
The ability to uncover preferences from choices is fundamental for both positive economics and welfare analysis. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm in applied microeconomics. However, as is well known, it...
Persistent link: https://www.econbiz.de/10012907827
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Inequality Aversion and Risk Attitudes
Ferrer-i-Carbonell, Ada - 2010
Using self reported measures of life satisfaction and risk attitudes, we empirically test whether there is a relationship between individuals inequality and risk aversion. The empirical analysis uses the German SOEP household panel for the years 1997 to 2007 to conclude that the negative effect...
Persistent link: https://www.econbiz.de/10013148355
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Risk Preferences are Not Time Preferences : Comment
Cheung, Stephen L. - 2012
Andreoni and Sprenger (in press) report evidence that distinct utility functions govern choices under certainty and risk. I investigate the robustness of their result to the experimental design. I find that the effect disappears completely when a multiple price list is used instead of a convex...
Persistent link: https://www.econbiz.de/10013099803
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Incentive Effects on Risk Attitude in Small Probability Prospects
Lefèbvre, Mathieu - 2009
prospects in a laboratory experiment. Under low stakes, we find the typical risk seeking behavior for small probabilities …
Persistent link: https://www.econbiz.de/10013154976
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Gender Differences in Risk Aversion : Do Single-Sex Environments Affect Their Development?
Booth, Alison L. - 2011
economically important ways. To test this, we designed a controlled experiment using first year college students who made choices …
Persistent link: https://www.econbiz.de/10013118042
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Trust and Trustworthiness Under the Prospect Theory : A Field Experiment in Vietnam
Nguyen, Quang - 2012
We study the influence of risk and time preferences on trust and trustworthiness by conducting a field experiment in …
Persistent link: https://www.econbiz.de/10013099719
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Risk-Taking Behavior in the Wake of Natural Disasters
Cameron, Lisa A. - 2012
We study whether natural disasters affect risk-taking behavior exploiting geographic variation in exposure to natural disasters. We conduct standard risk games (using real money) with randomly selected individuals in Indonesia and find that individuals who recently suffered a flood or earthquake...
Persistent link: https://www.econbiz.de/10013099808
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The Relationship between Economic Preferences and Psychological Personality Measures
Becker, Anke - 2012
Although both economists and psychologists seek to identify determinants of heterogeneity in behavior, they use different concepts to capture them. In this review we first analyze the extent to which economic preferences and psychological concepts of personality – such as the Big Five and...
Persistent link: https://www.econbiz.de/10013107699
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The Impact of Risk Perception and Risk Attitudes on Corrupt Behavior : Evidence from a Petty Corruption Experiment
Mir Djawadi, Behnud - 2013
abstract from confounding effects of reciprocal behavior, we design an experiment where a public official decides upon … early periods. Risk attitudes measured with a subsequent lottery-choice experiment do not correlate with the behavior … observed in the corruption experiment. We explain our findings by a systematic underestimation of the overall probability of …
Persistent link: https://www.econbiz.de/10013081828