In this paper we experimentally test skewness preferences at the individual level. Several prospects that can be …. We find that the skewness of a distribution has a significant impact on the decisions. Yet, while skewness has an impact …, its direction differs substantially across subjects: 39% of our subjects act in accordance with skewness seeking and 10 …

In this paper we experimentally test skewness seeking at the individual level. Several prospects that can be ordered … ¯nd that the skewness of a distribution has a signi¯cant impact on the decisions. Yet, while skewness has an impact, its … direction di®ers substantially across subjects: 39% of our subjects act in accordance with skewness seeking and 10% seem to …

attitudes toward risk are heterogeneous across the population, but that heterogeneity of attitudes toward ambiguity has … between risk aversion and ambiguity aversion that might explain the "value effect" in historical data. …This paper studies the impact of ambiguity and ambiguity aversion on equilibrium asset prices and portfolio holdings in …

We relax assumptions on individual risk preference, and set two theoretical rules for portfolio choices: either … minimize or maximize risk, for any return. Risk is modeled by four alternative formulas. We empirically test these rules by … uniquely consider 'money'; or they experience a 'subjective' perception of money. We find a large dominance of risk …

useful for out-of-sample prediction. Nor do we find practical applications of Bernoulli functions in major risk …

Most textbook finance literature assumes risk to be the standard deviation of returns (volatility), which is not only … is consistent with investors’ actual perception of risk. Our method is presenting investors return distributions with … different risk characteristics for which they have to state their perceived risk and make investment decisions. Our results hint …

useful for out-of-sample prediction. Nor do we find practical applications of Bernoulli functions in major risk … potentially observable opportunities rather than on unobservable Bernoulli functions. -- expected utility ; risk aversion ; St …

choices being observed, compared to anonymity of choices, on risk taking in a laboratory experiment. I relate participants …' investments in a risky asset directly to social norms for risk taking that are elicited in an incentivized procedure. I find that … risk taking is not affected by the choice being observed by a matched participant. Nor do investments follow elicited norms …

language may influence risk perception and investment behavior, no study has explored the causal effects of linguistic … asked to answer an extensive questionnaire covering risk perception and individual characteristics such as Big 5 personality … and financial literacy. Empirically, we observe a significant positive impact of linguistic uncertainty on risk perception …