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The present thesis examines if and to what extent microeconomic theory can explain the observable behavior of …Die vorliegende Arbeit untersucht, ob bzw. inwiefern die mikroökonomische Theorie geeignet ist, das beobachtbare …
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In this paper we relate individual risk attitude as elicited by binary lotteries and certainty equivalents to market behavior. By analyzing 26 independent markets with a total of 280 participants we show that binary lottery choices and certainty equivalents are poorly correlated. Only lottery...
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