In this paper we examine how risk attitudes change with age. We present participants from age 5 to 64 with choices … probability of the non-zero payoff. Surprisingly, we find that many participants are risk seeking when faced with high …-probability prospects over gains and risk averse when faced with small-probability prospects. Over losses we find the exact opposite …

intelligence. This oversight bears particular importance in a world of global trade, where the ability to gather useful information …

the dependent variable indicate that risk (benefit) perceptions increased (decreased) the discrepancy between WTA and WTP … estimates. The role of risk perceptions in explaining this discrepancy is congruent with consumers'’ propensity toward loss …

Prospect theory is a descriptive model of individual decision-making under risk (Kahneman and Tversky 1979). The … central tenet of prospect theory posits that the risk orientation of decision-makers is affected by the gains vs. losses … domains in which they are situated. Individuals are predicted to be risk-averse in the domain of gains and risk seeking in the …

discussing how concepts of rational decisions can be applied in situations of risk and uncertainty in the game, hypotheses on …).- Improving play by learning in a dynamic environment, from first steps to faster reaction times and general adjustments in risk … Finanzmärkten vergleichbar ist. Im Anschluss an die Erörterung, wie Konzepte rationalen Entscheidens auf Spielsituationen bei Risiko …

aversion, risk seeking over losses, and nonlinear and asymmetric probability weighting (in the spirit of Jullien and Salanié …, 2000). Loss aversion induces those speculators to trade more cautiously, while risk seeking induces them to trade more …

hold different portfolios. Our model is able to generate a time-varying risk premium of about 5.5% while maintaining a low … risk free rate, thus suggesting a plausible explanation for the equity premium puzzle reported by Mehra and Prescott (1985). …

decisions from description (decisions under risk), one shot decisions from experience, and repeated decisions from experience …