Incentivized experiments in which individuals receive monetary rewards according to the outcomes of their decisions are regarded as the gold standard for preference elicitation in experimental economics. These task-related real payments are considered necessary to reveal subjects' "true...

Large, macroeconomic shocks in the past have been shown to influence economic decisions in the present. We study in an experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In line with a reinforcement learning model, we...

Time preferences drive decisions in many economic situations, such as investment contexts or salary negotiations. These situations are characterized by a very short time frame for decision making. Preferences are potentially susceptible to the confounding effects of time pressure, as proposed by...

We investigate if decision makers exploit moral wiggle room in green market settings. We therefore implement a laboratory experiment in which subjects purchase products associated with externalities. In six between-subjects treatments, we alter the availability of information on the...

We investigate if people exploit moral wiggle room in green markets when revelation is stochastic and the revealed information is potentially erroneous. In our laboratory experiment, subjects purchase products associated with co-benefits represented as a contribution to carbon offsets purchased...

Financial literacy and economic preferences are considered to be important drivers of health, income, and general well-being. We bridge the gap between studies on financial literacy and research on economic preferences by investigating how they interplay with each other and with the field...

We present the results of a randomized intervention in schools to study how teaching financial literacy affects risk and time preferences of adolescents. Following ore than 600 adolescents, aged 16 years on average, over about half a year, we provide causal evidence that teaching financial...

Risk is one of the key aspects in financial decision-making and therefore an integral part of the behavioral economics and finance literature. Focusing on the conceptualization of the term "risk", which researchers have addressed from numerous angles, this comment aims to offer a critical...

We systematically examine which characteristics of a business opportunity - such as the likelihoods of potential gains and losses - affect managers' perception of risk and attractiveness. In an online experiment with a sample of 4,287 managers from smalland medium-sized enterprises in Denmark,...

Status and reputation concerns are conjectured to be important especially in markets with information asymmetries between buyers and sellers, such as in credence goods markets. To investigate the effects of status and reputation on reciprocal behavior of sales personnel in a financial credence...