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Responsibility effects in decision making under risk
Pahlke, Julius; Strasser, Sebastian; Vieider, Ferdinand M. - 2012
We explore situations in which a decision-maker bears responsibility for somebody else's outcomes as well as for her … in the loss domain we find increased risk seeking. In a second experiment we replicate the finding of increased risk … conditions of responsibility. This discredits hypotheses of a "cautious shift" under responsibility, and indicates an …
Persistent link: https://www.econbiz.de/10009724885
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Responsibility effects in decision making under risk
Pahlke, Julius; Strasser, Sebastian; Vieider, Ferdinand M. - In: Journal of risk and uncertainty : JRU 51 (2015) 2, pp. 125-146
Persistent link: https://www.econbiz.de/10011477891
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Separating attitudes towards money from attitudes towards probabilities : stake effects and ambiguity as a test for prospect theory
Vieider, Ferdinand M.; Cingl, Lubomír; Martinsson, Peter; … - 2013
experiments. In the first experiment, we elicit the value and probability weighting functions both under known and unknown … probability transformations rather than utility transformations. In the second experiment, we examine the effects of an increase …
Persistent link: https://www.econbiz.de/10009792472
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Cognitive imprecision and stake-dependent risk attitudes
Khaw, Mel Win; Li, Ziang; Woodford, Michael - 2022
In an experiment that elicits subjects' willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold …
Persistent link: https://www.econbiz.de/10013364933
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Narrow bracketing and dominated choices
Rabin, Matthew; Weizsäcker, Georg - In: The American economic review 99 (2009) 4, pp. 1508-1543
Persistent link: https://www.econbiz.de/10003896776
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Human behavior toward risky decision making : a review of experimental studies on risk preferences
Meier, Harald - 2021
Since business activities are generally subject to uncertainties, dealing with risk is essential. Principals are generally assumed to maximize their expected value and therefore act in a risk-neutral manner by diversifying their portfolio. Agents, however, often deviate from maximizing their...
Persistent link: https://www.econbiz.de/10013217449
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Skewness preferences : evidence from online poker
Dertwinkel-Kalt, Markus; Kasinger, Johannes; Schneider, … - 2022
We investigate what statistical properties drive risk-taking in a large set of observational panel data on online poker games (n=4,450,585). Each observation refers to a choice between a safe "insurance" option and a binary lottery of winning or losing the game. Our setting offers a real-world...
Persistent link: https://www.econbiz.de/10013263307
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An inquiry into the nature and causes of the description - experience gap
Cubitt, Robin P.; Kopsacheilis, Orestis; Starmer, Chris - 2020
, the nature, causes and implications of the phenomenon for economic theory remain unclear. We present a new experiment …
Persistent link: https://www.econbiz.de/10012242996
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Framing decisions in experiments on higher-order risk preferences
Haering, Alexander - 2021
In this study I analyze how lottery framing and lottery display type affect the degree of higher-order risk preferences. I explore differences by comparing reduced and compound lottery framing, and by comparing lotteries in an urn-style and in a spinner-style display format. Overall, my findings...
Persistent link: https://www.econbiz.de/10012596286
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Asset integration, risk taking and loss aversion in the laboratory
Morrison, William G.; Oxoby, Robert J. - 2019
We report on a laboratory experiment testing for the presence of loss aversion, as separate from risk aversion …
Persistent link: https://www.econbiz.de/10011997618