experiments than in real life. We modify standard risky choice protocols by making participants earn their money at risk by … completing manual tasks such as peeling potatoes. This leads to less risk-taking and to choices more consistent with those online … survey respondents anticipate making with their own money. When realistic levels of risk aversion are important, experiments …

' delegation decision as a trade-off between asset return uncertainty and delegation uncertainty. Our theory explains several …

Willingness to take risk depends on whether the risk affects others as well as oneself and on how the risk affects oneś … apparent whether the unfair safe social outcome benefits them or the other. Subjects are also more risk averse when facing … tendency to avoid social lotteries that impose a risk on the other. An attempt to reconcile those findings with standard models …

.7 with a standard deviation of 2.2, re ecting strong heterogeneity of risk preferences. We fi nd signi cant correlations … impute a risk aversion measure to every respondent and use this to estimate the correlation with observed risky behaviour …. Under the additional assumption of CRRA preferences, the sample average for the coefficient of relative risk aversion is 3 …

This paper examines how cooperation in an insurance game depends on risk preferences and the riskiness of income. It … consumption when perfect risk sharing is not achieved. -- informal insurance ; limited commitment ; risk preferences ; riskiness … of the discount factor above which perfect risk sharing is self-enforcing. When agents face no aggregate risk, there is …

We test 494 households participating in the German Socio Economic Panel SOEP to examine risk taking by one household … model, we calculate individual risk aversion, sensitivity toward a bad outcome for the other household member, and the … member that affects a second household member. Choices cannot be explained by (short term) strategic behavior. Respect for …

This paper investigates whether contest schemes induce excessive risk-taking by implementing in the laboratory a novel … payoff incentives (within-subject). We find evidence for excessive risk-taking in all our treatment conditions, with the non … intrinsic motivation for taking-risk in the stopping task. This intrinsic motive and the strategic motive for excessive risk …