We explore different contexts and mechanisms that might promote or alleviate the gender effect in risk aversion. Our main result is that we do not find gender differences in risk aversion when the choice is framed as a willingness-to-accept (WTA) task. When the choice is framed as a...

F. J. Anscombe and R. J. Aumann (1963) showed that, if one accepts the existence of a physical randomizing device such as a roulette wheel, then L. J. Savage's derivation of subjective expected utility can be considerably simplified. They, however, invoked compound gambles to define their...

Ellsberg and others suggested that decision under ambiguity is a rich empirical domain with many phenomena to be investigated beyond the Ellsberg urns. We provide a systematic empirical investigation of this richness by varying both the uncertain events, the outcomes, and combinations of these....