In a laboratory experiment we test the hypothesis that consumers' valuation of insurance is sensitive to the amount of information available on the probability of a potential loss. In order to test this hypothesis we simulate a market in which we elicit individuals' willingness to pay to insure...

In a series of experiments the interactions among individual attitudes towards risk and uncertainty, the sign of the outcome domain, and the way uncertainty is represented are tested. This is done in a unified framework, eliciting individual values by means of a second price auction. Results...

This paper presents an experiment which investigates whether asset prices are affected in markets where state probabilities are not exactly known and traders have to form subjective probabilities of payoffs. Results show that the presence of vague probabilities leads to higher average prices...

This paper analyzes the behavior of a competitive risk-averse firm that has to choose the optimal level of labor and preventive safety measures. If the firm's injury function includes a random component, then the firm is characterized by a lower demand for labor and by a higher demand for safety...

<i> La valutazione degli stati di salute sulla base delle preferenze individuali: un'analisi delle risposte incoerenti </i> (di Carmela Di Mauro, Maria Daniela Giammanco) - ABSTRACT: When building QALYs (Quality-adjusted Life Years), the crucial element is the valuation of health state utilities. The...