The purpose of this paper is to reexamine the seminal belief elicitation experiment by Nyarko and Schotter (2002) under …

laboratory experiment. Laboratory evidence on compliance behaviour of firms when faced with enforcement conditions predicted by …

conditional independence. The paper gives a taxonomy of issues of confounding, a parameterization by risk or safety, and develops …

In this paper we show that the wildly popular Holt and Laury (2002) risk preference elicitation method confounds … estimates of the curvature of the utility function, the traditional notion of risk preference, with an estimate of the extent to … confound while preserving the simplicity of the method which has made it so popular. Data from a laboratory experiment shows …

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 … inferences about structural risk preferences across the competing specifications. Overall, a mixture model combining the two …

This experimental study investigates insurance decisions in low-probability, high-loss risk situations. Results … individuals are risk averse with no specific threshold probability. …