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A theoretical and experimental appraisal of five risk elicitation methods
Crosetto, Paolo; Filippin, Antonio - 2013
We perform a comparative analysis of five incentivized tasks used to elicit risk preferences. Theoretically, we compare the elicitation methods in terms of completeness of the range of the estimates as well as their precision, the likelihood of triggering loss aversion, and problems arising when...
Persistent link: https://www.econbiz.de/10009706179
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A theoretical and experimental appraisal of five risk elicitation methods
Crosetto, Paolo; Filippin, Antonio - 2013
We perform a comparative analysis of five incentivized tasks used to elicit risk preferences. Theoretically, we compare the elicitation methods in terms of completeness of the range of the estimates as well as their precision, the likelihood of triggering loss aversion, and problems arising when...
Persistent link: https://www.econbiz.de/10009738261
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Aging, probability weighting, and reference point adoption : an experimental study
Suzuki, Ayako (contributor); Kume, Koichi (contributor) - 2008
incentives. We estimate the parameterized models in the framework of cumulative prospect theory and examine the risk aversion … elderly group’s behavior departs more from the traditional expected utility theory than does the young group’s behavior …. -- age ; cumulative prospect theory ; risk aversion ; probability weights ; reference point …
Persistent link: https://www.econbiz.de/10003757815
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Social anchor effects in decision-making under ambiguity
Lahno, Amrei M. - 2014
I experimentally examine whether feedback about others' choices provides an anchor for decision-making under ambiguity. In a between-subjects design I vary whether subjects learn choices made individually by a "peer" in a first part when facing the same task a second time, and whether prospects...
Persistent link: https://www.econbiz.de/10010364762
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The appeal of information transactions
Cabrales, Antonio; Gossner, Olivier; Serrano, Roberto - 2012
An information transaction entails the purchase of information. Formally, it consists of an information structure together with a price. We develop an index of the appeal of information transactions, which is derived as a dual to the agent's preferences for information. The index of information...
Persistent link: https://www.econbiz.de/10009633817
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Possibilistic optimization in planning decision of construction industry
Vasant, Pandian M.; Barsoum, Nader N.; Bhattacharya, Arijit - In: International journal of production economics 111 (2008) 2, pp. 664-675
Persistent link: https://www.econbiz.de/10003727844
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Essays in behavioral and experimental economics
Alevy, Jonathan E. - 2006
Persistent link: https://www.econbiz.de/10003908084
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No good deals - no bad models
Boyarchenko, Nina; Cerrato, Mario; Crosby, John; … - 2012
some numerical examples. -- asset pricing theory ; good-deal bounds ; Knightian uncertainty ; model uncertainty …
Persistent link: https://www.econbiz.de/10009679505
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Preference for randomization : empirical and experimental evidence
Dwenger, Nadja; Kübler, Dorothea; Weizsäcker, Georg - 2013
We investigate violations of consequentialism in the form of the stochastic dominance property. The property is shared by many theories of choice and implies that the decision-maker prefers receiving the best outcome for sure over all lotteries that involve multiple outcomes. We run experiments...
Persistent link: https://www.econbiz.de/10009681824