different concepts to analyse human behaviour: Economists use economic preference parameters rooted in utility theory, while …

-choice tasks for elicitation of risk attitudes. First, I compare the investment task of Gneezy and Potters (1997) with the standard …

theory. These models have successfully explained many so-called, “anomalies” in field data, but often imply that agents have … over uncertainty resolution in the domain of objective uncertainty, i.e., risk. By definition, uncertainty includes both … respect to subjective uncertainty, i.e., ambiguity, in addition to risk. We find that subjects most frequently exhibit a …

This paper explores three aspects of strategic uncertainty: its relation to risk, predictability of behavior and … games and one lottery. Behavior in coordination games is related to risk aversion, experience seeking, and age. From the … to the global-game solution. Comparing choices in coordination games with revealed risk aversion, we estimate subjective …

We investigate whether violations of canonical axioms of choice under risk are mistakes or a manifestation of true …

utility all predict unequivocally that risk-averse decision makers (DMs) will avoid the 50 - 50 urn that exhibits the highest … risk conceivable, while risk-seeking DMs do the opposite. However, we observe a substantial number of violations in the … notions of second- order risk. This finding is robust even when there is only partial ambiguity, and is applicable to all …

specification includes two parameters: one for ambiguity attitudes and another for risk attitudes. We also estimate a three …