Showing 1 - 10 of 351
In this paper we experimentally test skewness seeking at the individual level. Several prospects that can be ordered … ¯nd that the skewness of a distribution has a signi¯cant impact on the decisions. Yet, while skewness has an impact, its … direction di®ers substantially across subjects: 39% of our subjects act in accordance with skewness seeking and 10% seem to …
Persistent link: https://www.econbiz.de/10010275666
In this paper we experimentally test skewness seeking at the individual level. Several prospects that can be ordered … ï¬nd that the skewness of a distribution has a signiï¬cant impact on the decisions. Yet, while skewness has an impact …, its direction differs substantially across subjects: 39% of our subjects act in accordance with skewness seeking and 10 …
Persistent link: https://www.econbiz.de/10005090514
The recent spate of theoretical models of behaviour under ambiguity can be partitioned into two sets: those involving …
Persistent link: https://www.econbiz.de/10009652054
We study in an experiment whether humans prefer to depend on decisions of other humans (social uncertainty) or states of nature (environmental uncertainty). In the social uncertainty treatments subjects depend only on past decisions of other humans. This is the first experiment that studies...
Persistent link: https://www.econbiz.de/10011419479
This experimental study, first, compares the individual valuations of two risk reduction mechanisms: self-insurance and … valuations when loss amounts are known. results confirm that there exists no "framing effect" due to the two risk reduction … mechanisms. Ambiguity in the loss amount has a weak impact on the valuation, and using different representations of ambiguity …
Persistent link: https://www.econbiz.de/10010263799
whether this type of behavior persists when risk comes into play. I devise an experiment which sheds light on the … interrelation of risk and social preferences by measuring (1) individual risk preferences, (2) interpersonal risk preferences, and … (3) social preferences under certainty. The results reveal that a large share of subjects choose to accept more risk or …
Persistent link: https://www.econbiz.de/10010266645
Experimental studies of the WTP-WTA gap avoid social trading by implementing an incentive compatible mechanism for each individual trader. We compare a traditional random price mechanism and a novel elicitation mechanism preserving social trading, without sacrificing mutual incentive...
Persistent link: https://www.econbiz.de/10010369312
This experimental study, first, compares the individual valuations of two risk reduction mechanisms: self-insurance and … valuations when loss amounts are known. results confirm that there exists no "framing effect" due to the two risk reduction … mechanisms. Ambiguity in the loss amount has a weak impact on the valuation, and using different representations of ambiguity …
Persistent link: https://www.econbiz.de/10005090463
whether this type of behavior persists when risk comes into play. I devise an experiment which sheds light on the … interrelation of risk and social preferences by measuring (1) individual risk preferences, (2) interpersonal risk preferences, and … (3) social preferences under certainty. The results reveal that a large share of subjects choose to accept more risk or …
Persistent link: https://www.econbiz.de/10005051035
Experimental studies of the WTP-WTA gap avoid social trading by implementing an incentive compatible mechanism for each individual trader. We compare a traditional random price mechanism and a novel elicitation mechanism preserving social trading, without sacrificing mutual incentive...
Persistent link: https://www.econbiz.de/10010706056