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responsible for somebody else's payoffs increases risk aversion. This is however not attributable to a "cautious shift" as often … thought. Indeed, looking at risk attitudes in the loss domain, we find an increase in risk seeking under responsibility. This … raises issues about the nature of various decision biases under risk, and to what extent changed behavior under …
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met: separability of preferences and completeness of contracts. These conditions are often plausible, but they fail to …
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met: separability of preferences and completeness of contracts. These conditions are often plausible, but they fail to …
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