This article presents a characterization of higher-order risk preferences such as prudence or temperance in terms of statistical moments. Our results, which are generalizations of Roger (Theory Decis, 70(1):27–44, <CitationRef CitationID="CR4">2011</CitationRef>) and Ekern (Econ Lett, 6(4), 329–333, <CitationRef CitationID="CR8">1980</CitationRef>), give a better understanding...</citationref></citationref>

In a controlled laboratory experiment we use one sample of college students and one of mature executives to investigate how positive skew influences risky choices. In reduced-form regressions we find that both students and executives make riskier choices when lotteries display positive skew. We...

This paper reports an experiment designed to test whether prior consultation within a group affects subsequent individual decision-making in tasks where demonstrability of correct solutions is low. In our experiment, subjects considered two paintings created by two different artists and were...

In this article, we elicit both individuals’ and couples’ preferences assuming prospect theory (PT) as a general theoretical framework for decision under risk. Our experimental method, based on certainty equivalents, allows to infer measurements of utility and probability weighting at the...

The Group Calibration Index (GCI) provides a means of assessing the quality of forecasters’ predictions in situations that lack external feedback or outcome data. The GCI replaces the missing outcome data with aggregated ratings of a well-defined reference group. A simulation study and two...