illusion of control. By forming their portfolio of tworisky lotteries and one risk-less alternative, subjects are requested to … investment. Also, offering adefault portfolio strongly determines final allocations. …

knowledge ahead faced under risk and uncertainty, namely models under the umbrella of SKAT, the Stages of Knowledge Ahead Theory …

In this paper we experimentally test skewness preferences at the individual level. Several prospects that can be … ordered with respect to the third-degree stochastic dominance (3SD) criterion are ranked by the participants of the experiment …

In this paper we experimentally test skewness seeking at the individual level. Several prospects that can be ordered … with respect to the third-degree stochastic dominance (3SD) criterion are ranked by the participants of the experiment. We …

invest? Although investment does not converge as predicted, portfolios of informed agents reflect the probabilities of states …

This paper demonstrates gender differences in risk aversion and ambiguity aversion. It also contributes to a growing … of cognition. Women are more risk averse than men. Over an initial range, women require no further compensation for the … as men. Psychological variables account for some of the interpersonal variation in risk aversion. They explain none of …

verdict. In this experiment we examine the relationship between evidence of which the strength is known, subjective …

In this paper, we directly test the Modigliani-Miller theorem in the lab. Applying a general equilibrium approach and … any assumptions about individuals' risk attitudes and initial wealth positions. We find that, consistent with the … Modigliani-Miller theorem, experimental subjects well recognized the increased systematic risk of equity with increasing leverage …

The impact of uncertainty on firms' investment outlays is subject to an ongoing debate. Theory identifies several … channels. Irreversibility, financing constraints and risk aversion make a negative relationship between uncertainty and … investment likely. On the other hand, the ability of firms to adapt after uncertainty is resolved can make a risky strategy more …