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Overconfidence in investment decisions : an experimental approach
Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - 2001
We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute their own for alternative investment choices. Overall, 149 subjects participated in two experiments, one with just one risky asset, the other with two risky assets. Overconfidence...
Persistent link: https://www.econbiz.de/10011408444
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Calibration of quantum decision theory, aversion to large losses and predictability of probabilistic choices
Vincent, Sabine; Jukalov, Vjačeslav I.; Kovalenko, Tatyana - 2016
experiment and for predictions (second iteration). The QDT effect associated with the attraction factor is mostly appreciable for … prospects with big losses. Our quantitative analysis of the experiment results supports the existence of an intrinsic limit of …
Persistent link: https://www.econbiz.de/10011516615
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Manipulating reliance on intuition reduces risk and ambiguity aversion
Butler, Jeffrey; Guiso, Luigi; Jappelli, Tullio - 2013
Prior research suggests that those who rely on intuition rather than effortful reasoning when making decisions are less averse to risk and ambiguity. The evidence is largely correlational, however, leaving open the question of the direction of causality. In this paper, we present experimental...
Persistent link: https://www.econbiz.de/10010200793
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Stochastic choice and preference reversals
Alós-Ferrer, Carlos; Buckenmaier, Johannes; Garagnani, … - 2020 - This version: December 7th, 2020
The preference reversal phenomenon is one of the most important, long-standing, and widespread anomalies contradicting economic models of decisions under risk. It describes the robust observation of frequent "standard reversals" where long-shot gambles are valued above moderate ones but then the...
Persistent link: https://www.econbiz.de/10012390055
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Deal or no deal? : decision-making under risk in a large-payoff game show
Post, Thierry; Baltussen, Guido; Assem, Martijn J. van den - 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/10011348343
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Top-down or bottom-up? : disentangling channels of attention in risky choice
Engelmann, Jan; Hirmas, Alejandro; Weele, Joël J. van der - 2021
-specific and decisionspecific variation in attention and verify our framework in an eye-tracking experiment on risky choice. We …
Persistent link: https://www.econbiz.de/10012510861
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Am I my peer‘s keeper? : social responsibility in financial decision making
Füllbrunn, Sascha; Luhan, Wolfgang J. - 2015
solchen Fällen sagt die eine Klasse theoretischer Modelle geringere Risikoaversion voraus, eine andere Klasse aber höhere … Risikoaversion im Vergleich zur Situation, bei der der Betroffene selbst die Entscheidung trifft. Die bisherigen empirischen … oder für andere Personen. Wir verwenden ein „within-subjects“ für unser Experiment, bei dem Vermögensverwalter in …
Persistent link: https://www.econbiz.de/10010519127
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Decision-making traits and states as determinants of risky choices
Gärtner, Manja; Tinghög, Gustav; Västfjäll, Daniel - 2019
experiment with a large representative sample (N = 1,832), we vary whether risky choices are induced to be based on either …
Persistent link: https://www.econbiz.de/10012118611
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Social anchor effects in decision-making under ambiguity
Lahno, Amrei M. - 2014
I experimentally examine whether feedback about others' choices provides an anchor for decision-making under ambiguity. In a between-subjects design I vary whether subjects learn choices made individually by a "peer" in a first part when facing the same task a second time, and whether prospects...
Persistent link: https://www.econbiz.de/10010364762
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Endowments and Risky Choice
Crockett, Erin - 2019
We report evidence of an endowment effect for risk, extending previous results to the popular paired-choice lottery setting. Specifically, we observe a distribution of revealed preferences consistent with risk aversion that diminishes in endowed variance, although the effect is considerably...
Persistent link: https://www.econbiz.de/10012890580