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Framing decisions in experiments on higher-order risk preferences
Haering, Alexander - 2021
In this study I analyze how lottery framing and lottery display type affect the degree of higher-order risk preferences. I explore differences by comparing reduced and compound lottery framing, and by comparing lotteries in an urn-style and in a spinner-style display format. Overall, my findings...
Persistent link: https://www.econbiz.de/10012596286
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Risk and Choice: A Research Saga
Gollier, Christian; Hammitt, James; Treich, Nicolas - Institut d'Économie Industrielle (IDEI), Toulouse … - 2013
As in any research field, risk theory has its important questions, results, and paradoxes, as well as its seminal papers and key authors. Louis Eeckhoudt has been a key author in the field of risk theory. To celebrate his many contributions and continue the development of theories of decision...
Persistent link: https://www.econbiz.de/10010968958
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Higher-order Risk Preferences in Social Settings - An Experimental Analysis
Heinrich, Timo; Mayrhofer, Thomas - Rheinisch-Westfälisches Institut für … - 2014
We study higher-order risk preferences, i.e. prudence and temperance, next to risk aversion in social settings … decision maker. However, we do not observe an influence of social settings on prudence and temperance. Our results reveal that …
Persistent link: https://www.econbiz.de/10010934833
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Risk and Choice: A Research Saga
Gollier, Christian; Hammitt, James; Treich, Nicolas - Toulouse School of Economics (TSE) - 2013
As in any research field, risk theory has its important questions, results, and paradoxes, as well as its seminal papers and key authors. Louis Eeckhoudt has been a key author in the field of risk theory. To celebrate his many contributions and continue the development of theories of decision...
Persistent link: https://www.econbiz.de/10011004782
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Patient Preferences and Treatment Thresholds under Diagnostic Risk – An Economic Laboratory Experiment
Krieger, Miriam; Mayrhofer, Thomas - Rheinisch-Westfälisches Institut für … - 2012
We study risk aversion and prudence in medical treatment decisions. In a laboratory experiment, we investigate the ….3% prevalence rate). Risk aversion accounts for 3/4 of this effect, prudence for 1/4. The medical decision framing does not affect …
Persistent link: https://www.econbiz.de/10010533921
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Spatial allocation of capital: The role of risk preferences
Broll, Udo; Roldán-Ponce, Antonio; Wahl, Jack E. - Fakultät Wirtschaftswissenschaften, Technische … - 2010
of so-called relative prudence unambiguously decides whether or not the diversi cation of income risk favours the …
Persistent link: https://www.econbiz.de/10009226203
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Higher-Order Risk Preferences – Consequences for Test and Treatment Thresholds and Optimal Cutoffs
Felder, Stefan; Mayrhofer, Thomas - Rheinisch-Westfälisches Institut für … - 2011
Higher-order risk attitudes include risk aversion, prudence, and temperance. This paper analyzes the effects of such …. Prudence is relevant if a comorbidity risk applies in the sick state. It leads to even lower thresholds and a lower optimal …
Persistent link: https://www.econbiz.de/10009385740
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A Note on the Intensity of Downside Risk Aversion
Vazquez, Francisco J.; Watt, Richard - International Centre for Economic Research (ICER) - 2010
In this note we show that the measure of intensity of downside risk aversion proposed recently by Crainich and Eeckhoudt (2007) cannot be guaranteed to exist. We do this by means of an example in which the existence of the measure depends upon the values of the parameters in the problem.
Persistent link: https://www.econbiz.de/10008725782
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Joint measurement of risk aversion, prudence and temperance
Ebert, Sebastian; Wiesen, Daniel - University of Bonn, Germany - 2010
We propose a method to measure the intensity of risk aversion, prudence (downside risk aversion) and temperance (outer … approach is not based on expected utility theory. In our experiment we find evidence for risk aversion, prudence and temperance … for being (second order) risk-loving. This highlights the importance of prudence when considering economic decisions under …
Persistent link: https://www.econbiz.de/10008725919
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Monitoring and prudence
Beltrametti, Luca F.; Cardullo, Gabriele - 2024
"prudence effect" offers some clues for a more nuanced interpretation of the attitudes towards monitoring by firms and workers. …
Persistent link: https://www.econbiz.de/10014534559