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 …

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

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

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 …

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 …

of behavior under risk ; then we look at dynamic theories under risk; and finally look at decision making under ambiguity … (the theory of which is largely static at this point in time). As we proceed through the chapter we will come across a …

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