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Scenario-based satisficing in saving: a theoretical and experimental analysis

Güth, Werner; Levati, Maria Vittoria; Ploner, Matteo - 2007

Contrary to the models of deterministic life cycle saving, we take it for granted that uncertainty of one's future is the essential problem of saving decisions. However, unlike the stochastic life cycle models, we capture this crucial uncertainty by a non-Bayesian scenario-based satisficing...

Persistent link: https://www.econbiz.de/10010275031

Yesterday's expectation of tomorrow determines what you do today: the role of reference-dependent utility from expectations

Matthey, Astrid - 2008

The paper introduces the concept of adjustment utility, that is, referencedependent utility from expectations. It offers an explanation for observed preferences that cannot be explained with existing models, and yields new predictions for individual decision making. The model gives a simple...

Persistent link: https://www.econbiz.de/10010263858

Social preferences under risk: Ex-post fairness vs. efficiency

Gaudeul, Alexia - 2015

Social lotteries are lotteries that are played along with someone else. The experimental literature indicates that risk … explicitly draws attention to risk at the level of the pair and may thus moderate dislike for negatively correlated lotteries, as … those are less risky at the level of the group. We find that a significant minority of subjects keeps on disliking lotteries …

Persistent link: https://www.econbiz.de/10011348199

Uncertainty effect revisited using physical lottery format

Rydval, Ondřej; Ortmann, Andreas; Prokosheva, Sasha; … - 2009

We replicate three pricing tasks of Gneezy, List and Wu (2006) for which they document the so called uncertainty effect, namely that people value a binary lottery over non-monetary outcomes less than other people value the lottery's worse outcome. Unlike the authors who implement a verbal...

Persistent link: https://www.econbiz.de/10010276455

A test of the rational expectations hypothesis using data from a natural experiment

Conte, Anna; Moffatt, Peter G.; Botti, Fabrizio; Di … - 2009

Data on contestants' choices in Italian Game Show Affari Tuoi are analysed in a way that separates the effect of risk attitude (preferences) from that of beliefs concerning the amount of money that will be offered to contestants in future rounds. The most important issue addressed in the paper...

Persistent link: https://www.econbiz.de/10010272013

The effect of financial incentives and task-specific cognitive abilities on task performance

Rydval, Ondérej - 2011

We extend evidence on the interaction between financial incentives and cognitive abilities by focusing on the effect of task-specific abilities. In a memory-intensive task situated in an accounting context, the effect of accounting education on performance is stronger under financial incentives...

Persistent link: https://www.econbiz.de/10010286455

Valuation of self-insurance and self-protection under ambiguity: experimental evidence

Ozdemir, Ozlem - 2007

This experimental study, first, compares the individual valuations of two risk reduction mechanisms: self-insurance and self-protection. Second, it investigates these valuations when the loss amount is ambiguous, and compare these values with valuations when loss amounts are known. results...

Persistent link: https://www.econbiz.de/10010263799

Social peferences under risk: experimental analysis

Bradler, Christiane - 2009

whether this type of behavior persists when risk comes into play. I devise an experiment which sheds light on the …

Persistent link: https://www.econbiz.de/10010266645

The Bomb risk elicitation task

Crosetto, Paolo; Filippin, Antonio - 2012

loss aversion or by violations of the Reduction Axiom. We validate the task and test its robustness in a large …-scale experiment. Choices react significantly to the stakes and to the size of the choice set. Our experiment rationalizes the gender …

Persistent link: https://www.econbiz.de/10010291835

Testing the framework of other-regarding preferences

Levati, M. Vittoria; Nicholas, Aaron; Rai, Birendra - 2011

We assess the empirical validity of the overall theoretical framework of other-regarding preferences by focusing on those preference axioms that are common to all the prominent theories of outcome-based other-regarding preferences. This common set of preference axioms leads to a testable...

Persistent link: https://www.econbiz.de/10010286467

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