replacement and a different color wins in each draw. The 50-50 risky urn turns out to have the highest risk conceivable among all … of SEU share the same predictions in our design, for any first-order risk attitude. Yet, we observe that substantial …

four orders of ASD are used in the prospects comparison, risk-averse investors prefer the one with positive gain, smaller … variance, positive skewness, and smaller kurtosis. This information, in turn, enables decision makers to determine the ASD …

, investors prefer the one with positive gain, smaller variance and positive skewness. This information, in turn, enables decision …

discuss the claims of Andreoni and Sprenger (2012b) that "risk preferences are not time preferences" and assert that this may …

Microeconometric treatments of discrete choice under risk are typically homoscedastic latent variable models … parameters meant to represent agents’ degree of risk aversion in the sense of Pratt (1964) do not imply a suggested … “stochastically more risk averse” relation within such models. A new heteroscedastic model called “contextual utility” remedies this …

Using a laboratory experiment we investigate how skew in uences choices under risk. We find that subjects make …

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 … that our new method yields significantly different levels of implied risk aversion than the Holt and Laury task even after …

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. …

We investigate the influence of overconfidence and risk aversion on individual financial decision making in the … was followed by post hoc risk aversion measurement. Our results revealed that in the suggested setting, performance and … decreased sample differences in individual outcomes were overconfidence and not risk aversion driven. …