options approach and the classical investment theory can predict farmers’ investment behaviors. We also examine differences in … classical investment theory. The presence of a price floor and learning from personal experience during the experiment do not …In this study, we experimentally analyze the investment behavior of smallholder farmers in Uganda. We consider a …

We propose the Virtual Bingo Blower (VBB) as a way to generate credible risk and ambiguity in computerized experiments …

Current decision-making models assume that an individual's attitude towards risk does not vary across different sources … result suggests that individuals are subject to knowledge illusion in decisions under risk, constituting source …-dependent risk attitudes. We document that knowledge illusion stems from the wrongly assigned importance of perceived expertise in …

previous studies that found a negative relation between cognitive ability and risk aversion into perspective and in particular … show that cognitive ability is related to noisy behavior rather than risk preferences. We also find age and education to be … and more robustly correlated to risk preferences …

This study examines risk premia in a laboratory market featuring a long-lived asset. The research is enabled by …, statistically significant risk premia are reported, in support of standard asset pricing models. Potential determinants of the risk … premia are investigated. These risk premia are not sensitive to expected variance, but do vary positively with the magnitude …

long horizons. We present an experiment comparing decision making under certainty, risk, and ambiguity, over a shorter … lifecycle. Results show that behavior in the ambiguity treatment is markedly different than in the risk condition and it is …

probabilities, and (3) are ambiguity non-neutral. By decomposing ambiguity into risk and model uncertainty, and jointly eliciting …

investigating known-risk gambles and ambiguous gambles have systematically used the urn context. Little systematic research has …

choice between risky and ambiguous Ellsberg urns, we let them choose between a safe option and a risky lottery, whose risk is …, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that … request more information. Moreover, we investigate whether the relation between attitudes towards risk and ambiguity is linked …