We analyze one of the explanations why people participate in lotteries. Our hypothesis stipulates that part of the … value that a unit of money buys in lotteries is consumed before the actual resolution in the form of emotions such as hope … emotions. This conjecture is tested in an experiment with real lottery tickets. We show that our theoretical considerations may …

and British versions of the show are used to test the predictions of ten decision theories: risk neutrality, expected …

Social lotteries are lotteries that are played along with someone else. The experimental literature indicates that risk … explicitly draws attention to risk at the level of the pair and may thus moderate dislike for negatively correlated lotteries, as … those are less risky at the level of the group. We find that a significant minority of subjects keeps on disliking lotteries …

We study preferences over lotteries that pay a specific prize at uncertain future dates: time lotteries. The standard … a motivation, we show in an incentivized experiment that most subjects exhibit the opposite behavior, i.e., they are … risk averse over time lotteries (RATL). We then make two theoretical contributions. First, we show that RATL can be …

We study preferences over lotteries that pay a speci fic prize at uncertain future dates: time lotteries. The standard … a motivation, we show in an incentivized experiment that most subjects exhibit the opposite behavior, i.e., they are … risk averse over time lotteries (RATL). We then make two theoretical contributions. First, we show that RATL can be …

We present a pre-registered experiment testing the effects of three, high-payoff (up to $50,000) vaccine regret … lotteries in Philadelphia. In each drawing, residents of a randomly selected “treatment” zip code received half of the 12 … estimates of the benefits of these lotteries for Philadelphia’s overall vaccination rate. Our experimental results, however …

We study the effect of embedding pairwise choices between lotteries within a choice list on measured risk attitude …. Using an experiment with online workers, we find that subjects choose the risky lottery rather than a sure payment …

axioms including reduction of compound lotteries, time neutrality, and stage-1 betweenness (independence), which sheds light …