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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
. Using an experiment with online workers, we find that subjects choose the risky lottery rather than a sure payment …
Persistent link: https://www.econbiz.de/10011994857
Social lotteries are lotteries that are played along with someone else. The experimental literature indicates that risk attitudes depend on how one’s situation in the safe alternative compares to that of a peer. Evaluation of the risky alternative also depends on whether the lottery gives...
Persistent link: https://www.econbiz.de/10011295782
We refine the understanding of individual preferences across social lotteries, whereby the payoffs of a pair of subjects are exposed to random shocks. We find that aggregate behavior is ex-post and ex-ante inequality averse, but also that there is a wide variety of individual preferences and...
Persistent link: https://www.econbiz.de/10011476573
We replicate three pricing tasks of Gneezy, List and Wu (2006) for which they document the so-called uncertainty effect, namely, that people value a binary lottery over non-monetary outcomes less than other people value the lottery's worse outcome. While the authors implemented a verbal lottery...
Persistent link: https://www.econbiz.de/10013157185
a motivation, we show in an incentivized experiment that most subjects exhibit the opposite behavior, i.e., they are …
Persistent link: https://www.econbiz.de/10012937078
a motivation, we show in an incentivized experiment that most subjects exhibit the opposite behavior, i.e., they are …
Persistent link: https://www.econbiz.de/10012937079
Persistent link: https://www.econbiz.de/10010191024
This paper investigates how subjects determine minimum selling prices for lotteries. We design an experiment where …
Persistent link: https://www.econbiz.de/10014206381
information sources. Exploratory analysis, however, revealed interesting effects related to self-reported gambling frequency …-reported gambling frequency was stronger for females. Decision modeling found a decreased weight placed on new evidence (over base rate … frequency of gambling to worse performance in the critical probability assessment skills that should benefit gambling success (i …
Persistent link: https://www.econbiz.de/10014311967