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The ratio bias phenomenon: fact or artifact?
Lefèbvre, Mathieu; Vieider, Ferdinand M.; Villeval, … - 2009
valuation tasks. Also, adding context to the decision problem does not change this outcome. No ratio bias could be found in …
Persistent link: https://www.econbiz.de/10010277022
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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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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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Framing effects and impatience: Evidence from a large scale experiment
van der Heijden, Eline; Klein, Tobias J.; Müller, Wieland - 2012
broadly rather than narrowly. We find that the framing effect is significantly larger for impatient than for patient …
Persistent link: https://www.econbiz.de/10010291450
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A Parametric Analysis of Prospect Theory's Functionals for the General Population
Booij, Adam S.; Praag, Bernard M. S. van; van de … - Institute for the Study of Labor (IZA) - 2009
This paper presents the results of an experiment that completely measures the utility function and probability …
Persistent link: https://www.econbiz.de/10005822425
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Life Satisfaction, Income and Personality
Proto, Eugenio; Rustichini, Aldo - Institute for the Study of Labor (IZA) - 2015
We use personality traits to better understand the relationship between income and life satisfaction. Personality traits mediate the effect of income on life satisfaction. The effect of neuroticism, which measures sensitivity to threat and punishment, is strong in both the British Household...
Persistent link: https://www.econbiz.de/10011168446
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Prospect Theory and Tax Evasion: A Reconsideration of the Yitzhaki Puzzle
Piolatto, Amedeo; Rablen, Matthew D. - Institute for the Study of Labor (IZA) - 2013
The standard expected utility model of tax evasion predicts that evasion is decreasing in the marginal tax rate (the Yitzhaki puzzle). The existing literature disagrees on whether prospect theory overturns the puzzle. We disentangle four distinct elements of prospect theory and find loss...
Persistent link: https://www.econbiz.de/10010884369
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Household Portfolio Choice, Reference Dependence, and the Marriage Market
Li, Wenchao; Song, Changcheng; Xu, Shu; Yi, Junjian - 2017
This paper bridges the financial market and the marriage market using a reference-dependent mechanism. Male-biased sex ratios induce families with sons to hold more risky assets, since competitive marital payment in a tight market raises the reference level of marriage expenditure for such...
Persistent link: https://www.econbiz.de/10011653256
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Loss aversion and labor supply
Goette, Lorenz; Huffman, David; Fehr, Ernst - 2003
In many occupations workers? labor supply choices are constrained by institutional rules regulating labor time and effort provision. This renders explicit tests of the neoclassical theory of labor supply difficult. Here we present evidence from studies examining labor supply responses in...
Persistent link: https://www.econbiz.de/10010261634
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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