Choi, Syngjoo; Fisman, Raymond; Gale, Douglas; Kariv, … - In: American Economic Review 97 (2007) 5, pp. 1921-1938
By using graphical representations of simple portfolio choice problems, we generate a very rich dataset to study behavior under uncertainty at the level of the individual subject. We test the data for consistency with the maximization hypothesis, and we estimate preferences using a two-parameter...