violations of coalescing (i.e., configural weight theory) instead of violations of compound independence (i.e., rank …-dependent utility or cumulative prospect theory). …

We compare seven established risk elicitation methods and investigate how they explain an extensive set of risky … of behavior. Using an average of seven risk elicitation methods reduces measurement noise and yields more predictive … power. A reduced set of risk items yields the same external validity as the average of all seven methods. Hence, our …

ability”, such as poor education, unemployment, and little financial sophistication. Based on prospective reference theory, we … is linked to risk-related characteristics, such as risk tolerance and optimism. This indicates a potential problem as …