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choices being observed, compared to anonymity of choices, on risk taking in a laboratory experiment. I relate participants …' investments in a risky asset directly to social norms for risk taking that are elicited in an incentivized procedure. I find that … risk taking is not affected by the choice being observed by a matched participant. Nor do investments follow elicited norms …
Persistent link: https://www.econbiz.de/10011930435
useful for out-of-sample prediction. Nor do we find practical applications of Bernoulli functions in major risk … potentially observable opportunities rather than on unobservable Bernoulli functions. -- expected utility ; risk aversion ; St …
Persistent link: https://www.econbiz.de/10009151813
information, and control for risk attitude. We find that the strength-weight bias affects expectations, but that its magnitude is … incentive compatibility and controls for risk attitude considerably affect inferences on errors in expectations. …
Persistent link: https://www.econbiz.de/10011347344
. The latter involves decisions under ambiguity, decisions under risk, decisions after gaining experience and decisions …We assess the ability of different risk profiling measures to predict risk taking along a multi-stage decision process … after receiving outcome information on previous decisions. We find that in all decisions risk taking can be predicted by …
Persistent link: https://www.econbiz.de/10011874728
We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to …) and are less likely to save money. Experimental measures for risk and ambiguity attitudes are only weak predictors of …
Persistent link: https://www.econbiz.de/10008821664
they know more about, even when their beliefs are held constant. (They are averse to "ambiguity", or uncertainty about … probability.) We review evidence, recent theoretical explanations, and applications of research on ambiguity and SEU. …
Persistent link: https://www.econbiz.de/10011737764
context of ambiguity. These effects are also highly gender-specific with only males being susceptible. To probe the emotional … emotions and risk taking. …
Persistent link: https://www.econbiz.de/10013415883
Under risk, Arrow-Debreu equilibria can be implemented as Radner equilibria by continuous trading of few long … only possible if all discounted net trades of the equilibrium allocation are mean ambiguity-free. …
Persistent link: https://www.econbiz.de/10010411561
Risk-assessment and risk-taking in various forms are among the most important tasks financial professionals face in … domain) on risk-taking, predominantly among students. In a series of experiments set in different contextual frameworks, we … effect in risk-taking than the general population. Interestingly, for domain-specific risk-taking in a finance context, we …
Persistent link: https://www.econbiz.de/10012019643
Investor behavior was shown to be considerably different when the risk-return tradeoff is presented by experience … investors are faced with multiple decisions over time and are consequently able to adjust the risk level they initially chose … new form of risk simulation in which wealth paths over time are presented rather than just final outcomes. After investors …
Persistent link: https://www.econbiz.de/10011870656