, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that …This paper focuses on information acquisition and individual decision making in ambiguous situations and presents a … choice between risky and ambiguous Ellsberg urns, we let them choose between a safe option and a risky lottery, whose risk is …

, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that …This paper focuses on information acquisition and individual decision making in ambiguous situations and presents a … choice between risky and ambiguous Ellsberg urns, we let them choose between a safe option and a risky lottery, whose risk is …

Quantum decision theory (QDT) is a recently developed theory of decision making based on the mathematics of Hilbert … decision making. QDT describes a decision maker's choice as a stochastic event occurring with a probability that is the sum of … subjectivity on decision makers, the quarter law. We examine individual and aggregated (group) data, and find that the results are …

to be better educated and trained in how to approach decision making under uncertainty. If these quantitatively trained … become part of the basic education of anyone interested in finance or gambling.' …

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

disclosed the payoff structure; (2) the choice treatment in the context of SDM under risk, where the decision makers are … distribution lead to robust deviations from maximisation. The results of the choice treatment show that the risk-averse decision …We everyday engage in the 'Small Decision Making (SDM).' This paper presents an experiment on SDM that consists of the …

This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the … interdependence of individual risk attitudes and social preferences in form of inequality aversion as two decisive behavioral … determinants in such contexts. Our model and the data demonstrate that individual risk aversion is attenuated when lagging behind …

risk of extreme climate conditions. However, being confronted with inaccurate forecast systems may undermine individuals …

This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the … interdependence of individual risk attitudes and social preferences in the form of inequality aversion as two decisive behavioral … determinants in such contexts. Our model and the data demonstrate that individual risk aversion is attenuated when lagging behind …

This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the … interdependence of individual risk attitudes and social preferences in form of inequality aversion as two decisive behavioral … determinants in such contexts. Our model and the data demonstrate that individual risk aversion is attenuated when lagging behind …