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A test of the rational expectations hypothesis using data from a natural experiment

Conte, Anna; Moffatt, Peter G.; Botti, Fabrizio; Di … - 2009

Data on contestants' choices in Italian Game Show Affari Tuoi are analysed in a way that separates the effect of risk attitude (preferences) from that of beliefs concerning the amount of money that will be offered to contestants in future rounds. The most important issue addressed in the paper...

Persistent link: https://www.econbiz.de/10010272013

Uncertainty effect revisited using physical lottery format

Rydval, Ondřej; Ortmann, Andreas; Prokosheva, Sasha; … - 2009

We replicate three pricing tasks of Gneezy, List and Wu (2006) for which they document the so called uncertainty effect, namely that people value a binary lottery over non-monetary outcomes less than other people value the lottery's worse outcome. Unlike the authors who implement a verbal...

Persistent link: https://www.econbiz.de/10010276455

Empirical Tests of Intransitivity Predicted by Models of Risky Choice

Birnbaum, Michael H.; Schmidt, Ulrich - 2006

Recently proposed models of risky choice imply systematic violations of transitivity of preference. Five studies explored whether people show patterns of intransitivity predicted by four descriptive models. To distinguish ?true? violations from those produced by ?error,? a model was fit in which...

Persistent link: https://www.econbiz.de/10010296263

Unternehmensleitung und Innovationserfolg

Czarnitzki, Dirk; Kraft, Kornelius - 2001

In dieser Arbeit werden die verschiedenen Anreize für Manager im Vergleich zu Unternehmenseignern untersucht, Innovationen durchzuführen. Bei den Anreizen treten gegenläufige Effekte der Innovationsanstrengungen auf. Unsere Untersuchung über die Determinanten des Innovationserfolges liefert...

Persistent link: https://www.econbiz.de/10010297807

A behavioral portfolio analysis of retirement portfolios

Singer, Nico - 2011

To most individuals saving for retirement is the number one financial goal. However, it reveals a complex task and induces serious behavioral problems which cannot be explained by traditional economic theory. This paper investigates the role of behavioral asset selection on retirement portfolios...

Persistent link: https://www.econbiz.de/10010319295

Social Comparison and Risky Choices

Linde, Jona; Sonnemans, Joep - 2009

This study attempts to combine two traditional fields in microeconomics: individual decision making under risk and … decision making in an interpersonal context. The influence of social comparison on risky choices is explored in an experiment … lower than all possible payoffs of the decision maker. In the neutral context social referent and decision maker will always …

Persistent link: https://www.econbiz.de/10010325900

Social Preferences in Private Decisions

Linde, Jona; Sonnemans, Joep - 2012

situation where participants face a risky decision that affects only their own earnings. In the social (individual) treatment …

Persistent link: https://www.econbiz.de/10010326434

Gambling in Contests

Seel, Christian; Strack, Philipp - 2012

This paper presents a strategic model of risk-taking behavior in contests. Formally, we analyze an n-player winner-take-all contest in which each player decides when to stop a privately observed Brownian Motion with drift. A player whose process reaches zero has to stop. The player with the...

Persistent link: https://www.econbiz.de/10010333764

Continuois Time Contests

Seel, Christian; Strack, Philipp - 2012

This paper introduces a contest model in which each player decides when to stop a privately observed Brownian motion with drift and incurs costs depending on his stopping time. The player who stops his process at the highest value wins a prize. Applications of the model include procurement...

Persistent link: https://www.econbiz.de/10010334144

Painful regret and elation at the track

Schnytzer, Adi; Luppi, Barbara - 2008

We present an empirical study of loss aversion in the Hong Kong horse betting market. We provide evidence of the presence of loss aversion in a context of complete absence of the favourite-longshot bias. This would suggest that, since loss aversion is a psychological bias, the favourite-longshot...

Persistent link: https://www.econbiz.de/10010335968