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Risk aversion as a perceptual bias
Khaw, Mel Win; Li, Ziang; Woodford, Michael - 2017
The theory of expected utility maximization (EUM) proposed by Bernoulli explains risk aversion as a consequence of … laboratory experiment. …
Persistent link: https://www.econbiz.de/10011638247
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Discrete adjustment to a changing environment : experimental evidence
Khaw, Mel Win; Stevens, Luminita; Woodford, Michael - 2016
We conduct a laboratory experiment to shed light on the cognitive limitations that may affect the way decision makers …
Persistent link: https://www.econbiz.de/10011586279
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Risk Aversion as a Perceptual Bias
Khaw, Mel - 2017
The theory of expected utility maximization (EUM) proposed by Bernoulli explains risk aversion as a consequence of … laboratory experiment …
Persistent link: https://www.econbiz.de/10012956867
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Cognitive Imprecision and Stake-Dependent Risk Attitudes
Khaw, Mel Win; Li, Ziang; Woodford, Michael - 2022
In an experiment that elicits subjects’ willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold …
Persistent link: https://www.econbiz.de/10014077011
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Cognitive Imprecision and Stake-Dependent Risk Attitudes
Khaw, Mel Win; Li, Ziang; Woodford, Michael - National Bureau of Economic Research - 2022
In an experiment that elicits subjects' willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold …
Persistent link: https://www.econbiz.de/10013388772
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Cognitive imprecision and stake-dependent risk attitudes
Khaw, Mel Win; Li, Ziang; Woodford, Michael - 2022
In an experiment that elicits subjects' willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold …
Persistent link: https://www.econbiz.de/10013364933
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An Optimizing Neuroeconomic Model of Discrete Choice
Woodford, Michael - National Bureau of Economic Research (NBER) - 2014
A model is proposed in which stochastic choice results from noise in cognitive processing rather than random variation in preferences. The mental process used to make a choice is nonetheless optimal, subject to a constraint on available information-processing capacity that is partially motivated...
Persistent link: https://www.econbiz.de/10010821964
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Discrete Adjustment to a Changing Environment: Experimental Evidence
Khaw, Mel Win; Stevens, Luminita; Woodford, Michael - 2016
We conduct a laboratory experiment to shed light on the cognitive limitations that may affect the way decision makers …
Persistent link: https://www.econbiz.de/10011615828
Cover Image
Risk Aversion as a Perceptual Bias
Khaw, Mel Win; Li, Ziang; Woodford, Michael - 2017
The theory of expected utility maximization (EUM) proposed by Bernoulli explains risk aversion as a consequence of …
Persistent link: https://www.econbiz.de/10011657137
Cover Image
Cognitive Imprecision and Stake-Dependent Risk Attitudes
Khaw, Mel Win; Li, Ziang; Woodford, Michael - 2022
In an experiment that elicits subjects' willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold …
Persistent link: https://www.econbiz.de/10013427709