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Individuals exhibit a randomization preference if they prefer random mixtures of two bets to each of the involved bets. Such preferences provide the foundation of various models of uncertainty aversion. However, it has to our knowledge not been empirically investigated whether uncertainty-averse...
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emotions. This conjecture is tested in an experiment with real lottery tickets. We show that our theoretical considerations may …
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. Empirical evidence, however, is sparse. Using data from an experiment with 359 law and business administration students, we …
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