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Skill reputation, prospect theory, and regret theory
Harbaugh, Richmond - 2002
When a risky decision involves both skill and chance, success or failure is a signal of the decision maker's skill …. Prospect theory's four-fold pattern of probability weighting predicts that decision makers favor long-shots, avoid near sure … any gamble, even a friendly bet with little or no money at stake, reflects poorly on the decision maker's skill. Finally …
Persistent link: https://www.econbiz.de/10010272010
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Personality, Group Decision-Making and Leadership
Ertac, Seda; Gurdal, Mehmet Y. - 2012
genders might interpret the social norms in group decision-making differently. …
Persistent link: https://www.econbiz.de/10010500224
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What Determines the Shape of the Probability Weighting Function?
Fehr-Duda, Helga; Schürer, Marc; Schubert, Renate - 2006
who do not use a lottery’s expected value as a decision criterion. None of the factors studied impact subjects’ valuations …
Persistent link: https://www.econbiz.de/10011753119
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Variation in risk seeking behavior in a natural experiment on large losses induced by a natural disaster
Page, Lionel; Savage, David A.; Torgler, Benno - 2012
This study explores people's risk attitudes after having suffered large real-world losses following a natural disaster. Using the margins of the 2011 Australian floods (Brisbane) as a natural experimental setting, we find that homeowners who were victims of the floods and face large losses in...
Persistent link: https://www.econbiz.de/10010283589
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Deal or No Deal? Decision-making under Risk in a Large-payoff Game Show
Post, Thierry; Baltussen, Guido; van den Assem, Martijn - 2006
We examine the risky choices of contestants in the popular TV game show “Deal or No Deal” and related classroom experiments. Contrary to the traditional view of expected utility theory, the choices can be explained in large part by previous outcomes experienced during the game. Risk aversion...
Persistent link: https://www.econbiz.de/10010325560
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Probability weighting as evolutionary second-best
Herold, Florian; Netzer, Nick - 2010
decision-making is subject to cognitive or perceptive constraints. We show that distortions in the way probabilities are …
Persistent link: https://www.econbiz.de/10010315583
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Loss aversion
Imai, Taisuke; Schmidt, Klaus M. - 2023
" (Kahneman, 2011, p. 300). It has powerful implications for decision theory and has been fruitfully applied in many subfields of …
Persistent link: https://www.econbiz.de/10014540403
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Loss Aversion
Imai, Taisuke; Schmidt, Klaus - 2023
" (Kahneman, 2011, p. 300). It has powerful implications for decision theory and has been fruitfully applied in many subfields of …
Persistent link: https://www.econbiz.de/10014467841
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Incentive effects on risk attitude in small probability prospects
Lefèbvre, Mathieu; Vieider, Ferdinand M.; Villeval, … - 2009
Most studies on the role of incentives on risk attitude report data obtained from within-subject experimental investigations. This may however raise an issue of sequentiality of effects as later choices may be influenced by earlier ones. This paper reports instead between-subject results on the...
Persistent link: https://www.econbiz.de/10010277023
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Prospect theory and hedging risks
Broll, Udo; Egozcue, Martín; Wong, Wing-Keung; … - 2010
The prospect theory is one of the most popular decision-making theories. It is based on the S-shaped utility function …
Persistent link: https://www.econbiz.de/10010301357