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Compensating differentials in experimental labor markets

Carpenter, Jeffrey P.; Matthews, Peter Hans; Robbett, Andrea - 2015

The theory of compensating differentials has proven difficult to test with observational data: the consequences of …. Instead, we construct experimental, real-effort labor markets and offer an evaluation of the theory in a controlled setting … differentials are affected by worker mobility and therefore selection. Consistent with the theory, we find that riskier firms must …

Persistent link: https://www.econbiz.de/10010477537

On the role of monetary incentives in risk preference elicitation experiments

Hackethal, Andreas; Kirchler, Michael; Laudenbach, Christine - 2020

Incentivized experiments in which individuals receive monetary rewards according to the outcomes of their decisions are regarded as the gold standard for preference elicitation in experimental economics. These task-related real payments are considered necessary to reveal subjects' "true...

Persistent link: https://www.econbiz.de/10012262354

Measuring price risk aversion through indirect utility functions : a laboratory experiment

Zeytoon-Nejad, Ali - In: Games 13 (2022) 4, pp. 1-43

introduces the main elements of the duality theory (DT) in economics. Next, it proposes the context of IUFs as a suitable … under the expected utility theory (EUT) are somewhat subject to context. Other findings imply that the risk premium (RP), as …

Persistent link: https://www.econbiz.de/10013368182

On the role of monetary incentives in risk preference elicitation experiments

Hackethal, Andreas; Kirchler, Michael; Laudenbach, Christine - 2022

Persistent link: https://www.econbiz.de/10013545997

Estimating Individual Ambiguity Aversion : A Simple Approach

Gneezy, Uri; Imas, Alex; List, John A. - 2021

We introduce a simple, easy to implement instrument for jointly eliciting risk and ambiguity attitudes. Using this instrument, we structurally estimate a two-parameter model of preferences. Our findings indicate that ambiguity aversion is significantly overstated when risk neutrality is assumed....

Persistent link: https://www.econbiz.de/10013315553

Still in search of the sunk cost bias

Negrini, Marcello; Riedl, Arno; Wibral, Matthias - 2020

Evidence from hypothetical scenarios strongly suggests the existence of a sunk cost bias, the tendency to ‘throw good money after bad money.’ However, the few studies using incentives are inconclusive. In addition, evidence on potential psychological channels underlying such a bias is...

Persistent link: https://www.econbiz.de/10012299784

Relative deprivation as a cause of risky behaviors

Stark, Oded - 2019

Combining a standard measure of concern about low relative wealth and a standard measure of relative risk aversion leads to a novel explanation of variation in risk-taking behavior identified and documented by social psychologists and economists. We obtain two results: (1) Holding individual...

Persistent link: https://www.econbiz.de/10012136176