Khaw, Mel Win; Li, Ziang; Woodford, Michael - National Bureau of Economic Research - 2022
pattern of risk attitudes described by Kahneman and Tversky. In addition, we document a systematic effect of stake sizes on … the magnitude and sign of the relative risk premium, holding fixed both the probability that a lottery pays off and the … in which all departures from risk-neutral bidding are attributed to an optimal adaptation of bidding behavior to the …