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Are decision errors explaining hyperbolic discounting and nonlinear probability weighting?
Holden, Stein Terje; Tione, Sarah; Tilahun, Mesfin; … - 2024
weighting functions for the risky prospects placed 6 and 12 months into the future. The experiment is used to test whether … decision errors can explain or be highly correlated with hyperbolic discounting and non-linear (inverse-S-shaped) probability … weighting. We find evidence that decision errors are strongly correlated with hyperbolic discounting but do not find that …
Persistent link: https://www.econbiz.de/10014581476
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Comparing Behavior Under Risk and Under Ambiguity in a Lifecycle Experiment
Carbone, Enrica - 2015
long horizons. We present an experiment comparing decision making under certainty, risk, and ambiguity, over a shorter …
Persistent link: https://www.econbiz.de/10013033292
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Endowments and Risky Choice
Crockett, Erin - 2019
We report evidence of an endowment effect for risk, extending previous results to the popular paired-choice lottery setting. Specifically, we observe a distribution of revealed preferences consistent with risk aversion that diminishes in endowed variance, although the effect is considerably...
Persistent link: https://www.econbiz.de/10012890580
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Decision Making Under Risk on Independence Axiom : Lab Study of Traditional Merchant in Yogyakarta, Indonesia
Permana, Yudistira Hendra; Sahadewo, Gumilang Aryo - 2013
This study presents basic analysis of individual preferences by experiment set and provides evidence that encounters … expected utility theory (EUT). The main focus of this study is the independence axiom on decision making under risk which is …
Persistent link: https://www.econbiz.de/10014038536
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Classifying Behaviors in Risky Choices
Kontek, Krzysztof - 2010
their dissimilarity from the perfectly rational decision making? How to rank subjects by risk attitudes? How to cluster …
Persistent link: https://www.econbiz.de/10013141177
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Decision Making Under Uncertainty : The Relation between Economic Preferences and Psychological Personality Traits
Schröder, David - 2020
Both economists and psychologists are interested in understanding decision making under uncertainty. Yet, they rely on …
Persistent link: https://www.econbiz.de/10012851581
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Social preferences under risk : minimizing collective risk vs. reducing ex-post inequality
Gaudeul, Alexia - 2016
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
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Peer effects in risky choices among adolescents
Lucks, Konstantin E.; Lührmann, Melanie; Winter, Joachim - 2017
This paper examines the distributional impact of increases to out-of-work transfers, increases to work-contingent transfers, and increases in higher rates of income tax over the whole of life. We find that, in contrast to what is implied by standard snapshot analyses, increases to...
Persistent link: https://www.econbiz.de/10011718891
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Insurance or Signals? An Experimental Analysis of Behaviour Under Risk
Mudambi, Ram - 2014
The actions that individuals take to minimize the impact of risk generally involve cost. Thus, the actions that provide insurance often provide signals with regard to the individuals' underlying quality characteristics. Since the same action affects risk exposure and signals quality, individual...
Persistent link: https://www.econbiz.de/10014068774
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Investigating Risky Choices Over Losses Using Experimental Data
Mason, Charles F.; Shogren, Jason F.; Settle, Chad; … - 2008
We conduct a battery of experiments in which agents make choices from several pairs of all-loss-lotteries. Using these choices, we estimate a representation of individual preferences over lotteries. We find statistically and economically significant departures from expected utility maximization...
Persistent link: https://www.econbiz.de/10014026742