Similar Search Results

Enke, Benjamin; Shubatt, Cassidy - 2023

We develop interpretable, quantitative indices of the objective and subjective complexity of lottery choice problems that can be computed for any standard dataset. These indices capture the predicted error rate in identifying the lottery with the highest expected value, where the predictions are...

Persistent link: https://www.econbiz.de/10014340230

Measuring ambiguity aversion : a systematic experimental approach

Krahnen, Jan Pieter; Ockenfels, Peter; Wilde, Christian - 2014

This paper provides a systematic analysis of individual attitudes towards ambiguity, based on laboratory experiments …. The design of the analysis allows to capture individual behavior across various levels of ambiguity, ranging from low to … high. Attitudes towards risk and attitudes towards ambiguity are disentangled, providing pure measures of ambiguity …

Persistent link: https://www.econbiz.de/10010365123

Attention and selection effects

Ambuehl, Sandro; Ockenfels, Axel; Stewart, Colin - 2018

. We conduct a behavioral experiment that confirms these predictions, both for experimental variation in the costs of …

Persistent link: https://www.econbiz.de/10011863553

Optimal cognitive processes for lotteries

Alarie, Yves (contributor); Dionne, Georges (contributor) - 2001 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001661233

Social preferences under risk : minimizing collective risk vs. reducing ex-post inequality

Gaudeul, Alexia - 2016

We refine the understanding of individual preferences across social lotteries, whereby the payoffs of a pair of subjects are exposed to random shocks. We find that aggregate behavior is ex-post and ex-ante inequality averse, but also that there is a wide variety of individual preferences and...

Persistent link: https://www.econbiz.de/10011476573

The binary lottery procedure does not induce risk neutrality in the Holt-Laury and Eckel-Grossman tasks

Oechssler, Joerg; Sofianos, Andis - 2019

We test whether the binary lottery procedure makes subjects behave as if they are risk neutral in the Holt-Laury and Eckel-Grossman tasks. Depending on the task we find that at most a third of subjects behave as if risk neutral. In fact, when we compare the distribution of choices we find no...

Persistent link: https://www.econbiz.de/10012007430

Identifying the reasons for coordination failure in a laboratory experiment

Külpmann, Philipp; Khantadze, Davit - 2016

experiment. Using cognitive types, we can explain coordination failure in pure coordination games while differentiating between … coordination failure due to first- and higher-order beliefs. In our experiment, around 76% of the subjects have chosen the payoff …

Persistent link: https://www.econbiz.de/10011537616

Incentives in experiments with objective lotteries

Azrieli, Yaron; Chambers, Christopher P.; Healy, Paul J. - 2014

Persistent link: https://www.econbiz.de/10011563400

Resolving persistent uncertainty by self-organized consensus to mitigate market bubbles

Sornette, Didier; Andraszewicz, Sandra; Murphy, Ryan O.; … - 2016

We propose a new paradigm to study coordination in complex social systems, such as financial markets, that accounts for fundamental uncertainty. This new context has features from prediction markets that have been shown previously to mitigate price bubbles in classical asset market experiments....

Persistent link: https://www.econbiz.de/10011514493

On the role of monetary incentives in risk preference elicitation experiments

Hackethal, Andreas; Kirchler, Michael; Laudenbach, Christine - 2020

Incentivized experiments in which individuals receive monetary rewards according to the outcomes of their decisions are regarded as the gold standard for preference elicitation in experimental economics. These task-related real payments are considered necessary to reveal subjects' "true...

Persistent link: https://www.econbiz.de/10012262354

1
2
3
4
5
6
7
8
9
10
Next
Last