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that are extracted from a classroom experiment. We find that more-loss-averse students leave more questions unanswered and … evidence that loss aversion parameters extracted from lottery choices in a controlled experiment have predictive power in a … over time, as the experiment was conducted three months prior to the exam. We also find important differences across …
Persistent link: https://www.econbiz.de/10012064831
It is shown how to test revealed preference data on choices under uncertainty for consistency with first and second order stochastic dominance (FSD or SSD). The axiom derived for SSD is a necessary and sufficient condition for risk aversion. If an investor is risk averse, stochastic dominance...
Persistent link: https://www.econbiz.de/10014175928
laboratory experiment. -- Afriat’s theorem ; deterministic preferences ; decisions under risk ; experimental economcics …
Persistent link: https://www.econbiz.de/10003950963
It is shown how to test revealed preference data on choices under uncertainty for consistency with first and second order stochastic dominance (FSD or SSD). The axiom derived for SSD is a necessary and sufficient condition for risk aversion. If an investor is risk averse, stochastic dominance...
Persistent link: https://www.econbiz.de/10009580236
: Random Utility, Bounded Rationality, and Deliberate Randomization. We conduct an experiment in which subjects face the same …
Persistent link: https://www.econbiz.de/10013017580
We study in an experiment whether humans prefer to depend on decisions of other humans (social uncertainty) or states … other humans. This is the first experiment that studies social uncertainty that does not derive from a strategic situation …
Persistent link: https://www.econbiz.de/10011392605
reduzieren. Die Studie untersucht, wie Risikoaversion, die Einstellung zu Ambiguität und verschiedene Persönlichkeitsmerkmale … individuelle Risikoaversion und die Einstellung zu Ambiguität einen signifikanten Einfluss auf die Informationsnachfrage haben …
Persistent link: https://www.econbiz.de/10010357825
We implement an experiment to elicit subjects’ ambiguity attitudes in the spirit of Ellsberg’s three-color urn. The …
Persistent link: https://www.econbiz.de/10010360878
Auctions often involve goods exhibiting a common knowledge ex-post risk. Precautionary bidding predicts that under expected utility, ex-post risk leads DARA bidders to reduce their bids by more than the appropriate risk premium. Because the degree of riskiness of the good, and bidders risk...
Persistent link: https://www.econbiz.de/10010344662
In an aging society, it becomes more and more important to understand how aging affects decision making. Older adults have to face many situations that require consequential financial decisions. In the present study, we examined the effects of aging on decisions in two domains of uncertainty:...
Persistent link: https://www.econbiz.de/10008757916