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Incentive effects on risk attitude in small probability prospects
Lefèbvre, Mathieu; Vieider, Ferdinand M.; Villeval, … - 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/10010277023
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Motivational goal bracketing
Koch, Alexander K.; Nafziger, Julia - 2009
It is a puzzle why people often evaluate consequences of choices separately (narrow bracketing) rather than jointly (broad bracketing). We study the hypothesis that a present-biased individual, who faces two tasks, may bracket his goals narrowly for motivational reasons. Goals motivate because...
Persistent link: https://www.econbiz.de/10010271317
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A parametric analysis of prospect theory's functionals for the general population
Booij, Adam S.; van Praag, Bernard M. S.; van de … - 2009
This paper presents the results of an experiment that completely measures the utility function and probability …
Persistent link: https://www.econbiz.de/10010277017
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Self-regulation through goal setting
Koch, Alexander K.; Nafziger, Julia - 2008
Goals are an important source of motivation. But little is known about why and how people set them. We address these questions in a model based on two stylized facts from psychology and behavioral economics: i) Goals serve as reference points for performance. ii) Present-biased preferences...
Persistent link: https://www.econbiz.de/10010268967
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Narrow bracketing and dominated choices
Rabin, Matthew; Weizsäcker, Georg - 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/10010268303
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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/10010269869
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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 …
Persistent link: https://www.econbiz.de/10010289986
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Preferences and COVID-19 Vaccination Intentions
Blondel, Serge; Langot, François; Mueller, Judith E.; … - 2021
This paper shows that prospect theory, extended to account for differences across individuals in their patience and their valuation of the vaccination as a common good can explain why more than 40% of the population has intent to reject the Covid-19 vaccination, as well as the differences in...
Persistent link: https://www.econbiz.de/10012882399
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Are income and consumption taxes ever really equivalent? evidence from a real-effort experiment with real goods
Blumkin, Tomer; Ruffle, Bradley J.; Ganun, Yosef - 2010
The public finance literature demonstrates the equivalence between consumption and laborincome (wage) taxes. We introduce an experimental paradigm in which individuals make real labor-leisure choices and spend their earned income on real goods. We use this paradigm to test whether a labor-income...
Persistent link: https://www.econbiz.de/10010274549
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The ratio bias phenomenon: fact or artifact?
Lefèbvre, Mathieu; Vieider, Ferdinand M.; Villeval, … - 2009
The ratio bias - according to which individuals prefer to bet on probabilities expressed as a ratio of large numbers to normatively equivalent or superior probabilities expressed as a ratio of small numbers - has recently gained momentum, with researchers especially in health economics...
Persistent link: https://www.econbiz.de/10010277022