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Mutual Sharing or Insurance? An Experimental Study of Decisions at Various Levels of Uncertainty
Ahmed, Ali M.; Skogh, Göran - Centrum för arbetsmarknadspolitisk forkskning (CAFO), … - 2006
information on probabilities is obviously absent. Yet, Skogh and Wu (2005) show that risk averse agents may gain by risk sharing … Restated diversification theorem is tested by an experiment where the players may lose half their endowments in each of five … supports the hypothesis of beneficial risk sharing at genuine uncertainty. Moreover, the result tentatively supports an …
Persistent link: https://www.econbiz.de/10005190614
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Shunning uncertainty: The neglect of learning opportunities
Trautmann, Stefan T.; Zeckhauser, Richard J. - In: Games and Economic Behavior 79 (2013) C, pp. 44-55
Financial, managerial, and medical decisions often involve alternatives whose possible outcomes have uncertain probabilities. In contrast to alternatives whose probabilities are known, these uncertain alternatives offer the benefits of learning. In repeat-choice situations, such learning brings...
Persistent link: https://www.econbiz.de/10011049682
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Experimental evidence on varying uncertainty and skewness in laboratory double-auction markets
Huber, Jürgen; Kirchler, Michael; Stefan, Matthias - In: Journal of Economic Behavior & Organization 107 (2014) PB, pp. 798-809
We investigate the influence of skewness in asset fundamentals on asset prices under different states of uncertainty in double-auction markets. Three different types of assets are considered: risky assets, ambiguous assets and assets where the fundamental value distribution can be learned by...
Persistent link: https://www.econbiz.de/10011116881
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How to reveal people's preferences: Comparing time consistency and predictive power of multiple price list risk elicitation methods
Csermely, Tamás; Rabas, Alexander - Vienna University of Economics and Business, Department … - 2014
The question of how to measure and classify people’s risk preferences is of substantial importance in the field of … Economics. Inspired by the multitude of ways used to elicit risk preferences, we conduct a holistic investigation of the most … risk assessment method can lead to biased results especially if researchers investigate its connection to other phenomena …
Persistent link: https://www.econbiz.de/10010949385
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Decision time and steps of reasoning in a competitive market entry game
Lindner, Florian - In: Economics Letters 122 (2014) 1, pp. 7-11
belief about the own rank in a real effort task, and subjects’ risk preferences. In this paper I am able to replicate these …
Persistent link: https://www.econbiz.de/10010729430
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Decision time and steps of reasoning in a competitive market entry game
Lindner, Florian - Institut für Finanzwissenschaft, Fakultät für … - 2013
belief about the own rank in a real effort task, and subjects' risk preferences. In this paper I am able to replicate these …
Persistent link: https://www.econbiz.de/10010684334
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Black Swan Protection: an Experimental Investigation
Ozdemir, Ozlem; Morone, Andrea - Departament d'Economia, Universitat Jaume I - 2012
This experimental study investigates insurance decisions in low-probability, high-loss risk situations. Results … individuals are risk averse with no specific threshold probability. …
Persistent link: https://www.econbiz.de/10010773019
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Intergenerational attitudes towards strategic uncertainty and competition: A field experiment in a Swiss bank
Madiès, Thierry; Villeval, Marie Claire; Wasmer, Malgorzata - In: European Economic Review 61 (2013) C, pp. 153-168
With a market entry game inspired by Camerer and Lovallo (1999), we study the attitudes of junior and senior employees towards strategic uncertainty and competition. Seniors exhibit higher entry rates compared to juniors, especially when the market capacity is not too low or when earnings from...
Persistent link: https://www.econbiz.de/10010665916
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High stakes behavior with low payoffs: Inducing preferences with Holt–Laury gambles
Dickhaut, John; Houser, Daniel; Aimone, Jason A.; Tila, … - In: Journal of Economic Behavior & Organization 94 (2013) C, pp. 183-189
Kahneman and Tversky (1979) argued that risky decisions in high stakes environments can be informed using questionnaires with hypothetical choices. Yet results by Holt and Laury (2002) suggest that questionnaire responses and decisions in hypothetical and low monetary payoff environments do not...
Persistent link: https://www.econbiz.de/10010719274
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Black swan protection: an experimental investigation
Morone, Andrea; Ozdemir, Ozlem - Volkswirtschaftliche Fakultät, … - 2012
This experimental study investigates insurance decisions in low-probability, high-loss risk situations. Results … individuals are risk averse with no specific threshold probability. …
Persistent link: https://www.econbiz.de/10011110638