Showing 1 - 10 of 351
experiments. In the first experiment, we elicit the value and probability weighting functions both under known and unknown …
Persistent link: https://www.econbiz.de/10009792472
The present paper introduces a theoretical framework through which the degree of risk aversion with respect uncertain prices can be measured through the context of the indirect utility function (IUF) using a lab experiment. First, the paper introduces the main elements of the duality theory (DT)...
Persistent link: https://www.econbiz.de/10013368182
Measuring risk aversion is sensitive to assumptions about the wealth in subjects' utility functions. Data from the same subjects in low- and high-stake lottery decisions allow estimating the wealth in a pre-specified one-parameter utility function simultaneously with risk aversion. This paper...
Persistent link: https://www.econbiz.de/10010374868
experiments and survey questions. We find a high degree of aggregate consistency across elicitation methods, but large … laboratory experiments is unfeasible. …
Persistent link: https://www.econbiz.de/10010490651
Recent experimental studies suggest that risk aversion is negatively related to cognitive ability. In this paper we report evidence that this relation might be spurious. We recruit a large subject pool drawn from the general Danish population for our experiment. By presenting subjects with...
Persistent link: https://www.econbiz.de/10013083213
Recent experimental studies suggest that risk aversion is negatively related to cognitive ability. In this paper we report evidence that this relation might be spurious.We recruit a large subject pool drawn from the general Danish population for our experiment. By presenting subjects with choice...
Persistent link: https://www.econbiz.de/10013073663
individual ambiguity preferences, the experimental economics literature advocates using incentivized laboratory experiments. Yet …, laboratory experiments are costly, time-consuming and require substantial administrative effort. This study develops an … laboratory experiments is impractical. This toolkit may have wide applications, including end-of-session lab questionnaires …
Persistent link: https://www.econbiz.de/10012903999
The paper investigates the relation between the risk preferences of traders and the information aggregation properties of an experimental call market. We find evidence inconsistent with the prediction that market-clearing prices are closer to the full revelation of the state when traders are...
Persistent link: https://www.econbiz.de/10012889352
Persistent link: https://www.econbiz.de/10012867028
studies and 363 treatments, and from two new experiments that vary the outcome probabilities and examine lying for personal …
Persistent link: https://www.econbiz.de/10012978152