This paper investigates the behavior of contestants in the game show “Quiz Taxi” when faced with the decision whether to bet the winnings they have acquired on a fi nal “double or nothing” question. The decision is made by groups of two or three persons. This set-up enables the decision...

This paper develops a weighted additive model for certainty equivalents of binary gambles with a segregation form, in the sense that they are decomposition into sure gains and risky gambles. The effect of adding a sure gain to the preference for a risky gamble is considered to be evaluated by...

We examine whether the experience of shocks influences individual risk attitude. We measure risk attitude via a simple survey item, compiled among more than 4,000 households in Thailand and Vietnam. The experience of adverse shocks, which is typical for poor and vulnerable households, is related...

This paper contributes to the debate on the adequate elicitation of individual risk attitudes in general socio-economic surveys. A multi-item question on the willingness to take risk, a very short form of the DOSPERT scale (Weber et al., 2002) and a series of lottery tasks are compared with...

We compare seven established risk elicitation methods and investigate how they explain an extensive set of risky behavior from a large household survey. We find overall positive correlation between items and low explanatory power in terms of behavior. Using an average of seven risk elicitation...

In the real life groups, rather than individuals, take the most part of decisions. So that it is useful to study how groups take a decision in different strategic environments. This paper provides an overview of previous research about groups’ preferences over risk. I compare different...

We explore the attitude towards risky career choices of young people in highly competitive environments. We empirically test which factors influence young elite athletes’ tendency towards choosing a high-risk career option over a lower risk one; looking at the attitudes, of close to 1000 soccer...

We explore the attitude towards risky career choices of young people in highly competitive environments. We empirically test which factors influence young elite athletes' tendency towards choosing a high-risk career option over a lower risk one; looking at the attitudes, of close to 1000 soccer...

We let subjects take risky decisions that affect themselves and a passive recipient. Adding a requirement to justify their choices significantly reduces loss aversion. This indicates that such an accountability mechanism may be effective at debiasing loss aversion in agency relations.

We conduct experiments on two different risk tasks with subjects from two neighboring ethnic groups, the matrilineal Mosuo and the patriarchal Yi in China. Women are more risk averse than men at both tasks within both ethnic groups. However, the gender gap is smaller in the Mosuo. Regressions...