This paper considers the applicability of the standard separability axiom for both risk and other-regarding preferences …, and advances arguments why separability might fail. An alternative axiom, which is immune to these arguments, leads to a … the resulting representation coincides with the Fehr-Schmidt model. For risk preferences the reference variable is initial …

uncertainty. J. Risk and Uncertainty 5 297--323.) and Prelec (Prelec, Dra\v{z}en. 1995. The probability weighting function …

risk. Econometrica 47(2) 263-292) break-even hypothesis and suggests that when investors incur a large loss, it might be …

(i) judgments of probability, which are assumed to satisfy support theory; and (ii) decisions under risk, which are … assumed to satisfy prospect theory. In two experiments, subjects evaluated uncertain prospects and assessed the probability of …

theoretical framework for decision under risk. Our experimental method, based on certainty equivalents, allows to infer …. First, risk attitude for couples is compatible with PT and incorporates deviations from expected utility similar to those … found in individual decision making. Second, couples’ attitudes towards risk are found to be consistent with a mix of …

Author's abstract. This paper study decision-making under risk and decision-making over time made by couples. We … performed a joint experimental elicitation of risk and time preferences both for couples and for their individual members. We … used general behavioral models of decision under risk and over time and measured utility, probability weighting, and …

that risk taking by some businesses differs from that indicated by the Prospect Theory. Enterprises headed by entrepreneurs … are more risk-taking/risk-neutral in the area of gains, and successful large corporations are more risk-averse overall …

contexts: risk (where probabilities are given) and ambiguity (where the probability distribution is unknown). An experimental … S-shaped probability weighting and loss aversion for risk. Probability weighting is even more pronounced in ambiguity …

The paper reports the result of an experimental game on asset integration and risk taking. We find evidence that … winnings in earlier rounds affect risk taking in subsequent rounds, but no evidence that real life wealth outside the … experiment affects risk taking. We find some evidence of imitation of the risk taking behavior of others that is distinct from …