We consider the external validity of laboratory measures of risk attitude. Based on a large-scale experiment using a representative panel of the Dutch population, we test if these measures can explain two different types of behavior: (i) behavior in laboratory risky financial decisions, and (ii)...

We consider the external validity of laboratory measures of risk attitude. Based on a large-scale experiment using a representative panel of the Dutch population, we test if these measures can explain two different types of behavior: (i) behavior in laboratory risky financial decisions, and (ii)...

We consider the external validity of laboratory measures of risk attitude. Based on a large-scale experiment using a representative panel of the Dutch population, we test if these measures can explain two different types of behavior: (i) behavior in laboratory risky financial decisions, and (ii)...

We study the following basic intuition: when faced with a decision how to split their investment between a risky lottery and an asset with a fixed return, people increase the proportion invested in the risky option the more they like the lottery. We find counter-examples to this, and in fact we...

Are men more willing to take financial risks than women? The answer to this important question is not clear from the existing literature. We propose a novel approach to this issue, in which we both assemble the data from many experiments with thousands of participants in a simple investment...

We consider the external validity of laboratory measures of risk attitude. Based on a large-scale experiment using a representative panel of the Dutch population, we test if these measures can explain two different types of behavior: (i) behavior in laboratory risky financial decisions, and (ii)...

Economists and psychologists have developed a variety of experimental methodologies to elicit and assess individual risk attitudes. Choosing which to utilize, however, is largely dependent on the question one wants to answer, as well as the characteristics of the sample population. The goal of...

This paper presents evidence that the willingness to punish an unfair action is sensitive to whether this action was preceded by a deceptive message. One player first sends a message indicating an intended play, which is either favorable or unfavorable to the other player in the game. After the...

In this paper, we report the results of experiments designed to test whether individuals and groups abide by the axioms of monotonicity, with respect to first-order stochastic dominance and Bayesian updating, when making decisions in the face of risk. The results indicate a significant number of...

The Winner's Curse (WC) is one of the most robust and persistent deviations from theoretical predictions that has been established in experimental economics and claimed to exist in many field environments. There have been many attempts to explain the winner's curse, such as ignoring the...