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 final double or nothing question. The decision is made by groups of two or three persons. This set-up enables the decision making...

The, often observed, positive correlation between incentive intensity and risk has been explained in two ways: the presence of transaction costs as determinants of contracts and the sorting of risk-tolerant individuals into firms using high-intensity incentive contracts. The empirical importance...

This paper investigates whether risk aversion and impatience are correlated with cognitive ability. We conduct incentive compatible choice experiments measuring risk aversion, and impatience over an annual time horizon, for a representative sample of roughly 1,000 German adults. A measure of...

This paper studies gender heterogeneity in preferences. We used experimental methods to elicit the subjective discount rate and attitude toward risk in Indian villages. Results show that women made more patient choices than men and that their discount rate is related to number of children. No...

This paper presents the results of an experiment that completely measures the utility function and probability weighting function for different positive and negative monetary outcomes, using a representative sample of N = 1935 from the general public. The results confirm earlier findings in the...

This study validates a survey-based measure of general risk attitude by an incentive compatible experiment among more than 900 participants in rural Thailand. The survey measure of self-assessed risk attitude provides a useful approximation of the experimentally derived risk attitude. This holds...

This study explores people's risk attitudes after having suffered large real-world losses following a natural disaster. Using the margins of the 2011 Australian floods (Brisbane) as a natural experimental setting, we find that homeowners who were victims of the floods and face large losses in...

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 final "double or nothing" question. The decision is made by groups of two or three persons. This set-up enables the decision making...

We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to eighteen years, in an incentivized experiment and relate experimental choices to field behavior. Experimental measures of impatience are found to be significant predictors of...

A common premise in both the theoretical and policy literatures on development is that people remain poor because they are too impatient to save and too risk averse to take the sort of chances needed to accumulate wealth. The empirical literature, however, suggests that this assumption is far...