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Risk preference elicitation without the confounding effect of probability weighting

Drichoutis, Andreas; Lusk, Jayson - Volkswirtschaftliche Fakultät, … - 2012

confound while preserving the simplicity of the method which has made it so popular. Data from a laboratory experiment shows …

Persistent link: https://www.econbiz.de/10011107621

Judging statistical models of individual decision making under risk using in- and out-of-sample criteria

Drichoutis, Andreas; Lusk, Jayson - Volkswirtschaftliche Fakultät, … - 2012

Despite the fact that conceptual models of individual decision making under risk are deterministic, attempts to econometrically estimate risk preferences require some assumption about the stochastic nature of choice. Unfortunately, the consequences of making different assumptions are, at...

Persistent link: https://www.econbiz.de/10011108341

Experimental Evidence on Valuation and Learning with Multiple Priors

Qiu, Jianying; Weitzel, Utz - Volkswirtschaftliche Fakultät, … - 2013

Abstract Popular models for decision making under ambiguity assume that people use not one but multiple priors. This paper is a first attempt to experimentally elicit multiple priors. In an ambiguous scenario with two underlying states we measure a subject’s single prior, her other potential...

Persistent link: https://www.econbiz.de/10011258993

A reconciliation of time preference elicitation methods

Drichoutis, Andreas; Nayga, Rodolfo - Volkswirtschaftliche Fakultät, … - 2013

We reconcile �findings from the Multiple Price List method (Andersen et al., 2008) and the Convex Time Budget method (Andreoni and Sprenger, 2012a) that seem to have generated a heated debate in the time preference literature. Specifi�cally, we discuss the claims of Andreoni and Sprenger...

Persistent link: https://www.econbiz.de/10011260062

Individuals’ behaviour with respect to parking alternatives: a laboratory experiment

Bergantino, Angela Stefania; De Carlo, Angela; Morone, … - Volkswirtschaftliche Fakultät, … - 2015

The aim of this paper is to analyse the trade-off between parking space availability and cost, in terms of time saving. This information is pivotal when designing parking policies in terms of fares, investments and regulation. A relevant body of literature has focused on parking behaviour (e.g....

Persistent link: https://www.econbiz.de/10011266116

The hot stove effect in repeated-play decision making under ambiguity

Fujikawa, Takemi - Volkswirtschaftliche Fakultät, … - 2009

-play decision making under ambiguity. The current experiment involves an ambiguity treatment in which (1) the participants perform …

Persistent link: https://www.econbiz.de/10008459812

Just luck: an experimental study of risk taking and fairness

Cappelen, Alexander W; Konow, James; Sorensen, Erik O; … - Volkswirtschaftliche Fakultät, … - 2010

results of the first experiment, to our knowledge, to study fairness views about risk-taking, specifically whether such views …

Persistent link: https://www.econbiz.de/10008560053

Stochastically more risk averse: A contextual theory of stochastic discrete choice under risk

Wilcox, Nathaniel - Volkswirtschaftliche Fakultät, … - 2007

Microeconometric treatments of discrete choice under risk are typically homoscedastic latent variable models. Specifically, choice probabilities are given by preference functional differences (given by expected utility, rank-dependent utility, etc.) embedded in cumulative distribution functions....

Persistent link: https://www.econbiz.de/10005836390

Can Groups Solve the Problem of Over-Bidding in Contests?

Sheremeta, Roman; Zhang, Jingjing - Volkswirtschaftliche Fakultät, … - 2009

This study reports an experiment that examines whether groups can better comply with theoretical predictions than … individuals in contests. Our experiment replicates previous findings that individual players significantly overbid relative to … individual players. The new findings of our experiment are that groups make 25% lower bids, their bids have lower variance, and …

Persistent link: https://www.econbiz.de/10011113095