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Higher order risk preferences: New experimental measures, determinants and field behavior
Schneider, Sebastian O.; Sutter, Matthias - 2020
We use a novel method to elicit and measure higher order risk preferences (prudence and temperance) in an experiment … prudence - are strongly related to adolescents' field behavior, including their financial decision making, eco …-friendly behavior, and health status, including addictive behavior. Most importantly, we show that dropping prudence and temperance from …
Persistent link: https://www.econbiz.de/10012306410
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Higher Order Risk Preferences: New Experimental Measures, Determinants and Field Behavior
Schneider, Sebastian O.; Sutter, Matthias - 2020
We use a novel method to elicit and measure higher order risk preferences (prudence and temperance) in an experiment … prudence are strongly related to adolescents' field behavior, including their financial decision making, eco-friendly behavior …, and health status, including addictive behavior. Most importantly, we show that dropping prudence and temperance from the …
Persistent link: https://www.econbiz.de/10012314831
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Higher Order Risk Preferences: New Experimental Measures, Determinants and Field Behavior
Schneider, Sebastian; Sutter, Matthias - 2020
We use a novel method to elicit and measure higher order risk preferences (prudence and temperance) in an experiment … prudence - are strongly related to adolescents' field behavior, including their financial decision making, eco …-friendly behavior, and health status, including addictive behavior. Most importantly, we show that dropping prudence and temperance from …
Persistent link: https://www.econbiz.de/10012322445
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Higher order risk preferences: New experimental measures, determinants and field behavior
Schneider, Sebastian O.; Sutter, Matthias - 2020
We use a novel method to elicit and measure higher order risk preferences (prudence and temperance) in an experiment … prudence - are strongly related to adolescents' field behavior, including their financial decision making, eco …-friendly behavior, and health status, including addictive behavior. Most importantly, we show that dropping prudence and temperance from …
Persistent link: https://www.econbiz.de/10012434963
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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/10012599184
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The Commons Problem under Uncertainty and Precaution
Bos, Björn; Drupp, Moritz; Meya, Jasper; Quaas, Martin - 2021
We study a commons problem under uncertainty, where individual actions affect the risk of a future damage event. We show that for risk-averse agents, an extra risk on the amount of the damage induces more precautionary actions in Nash equilibrium. Similarly, for prudent agents an extra risk in...
Persistent link: https://www.econbiz.de/10012623217
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The development of risk aversion and prudence in Chinese children and adolescents
Heinrich, Timo; Shachat, Jason - In: Journal of Risk and Uncertainty 61 (2021) 3, pp. 263-287
environment. We use a simple binary choice task that tests risk aversion, as well as prudence. This is the first test for prudence …
Persistent link: https://www.econbiz.de/10014501959
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Parametric characterizations of risk aversion and prudence
Nielsen, Lars Tyge; Lajeri, Fatma - In: Economic Theory 15 (2000) 2, pp. 469-476
normal distributions, this utility function is concave if and only if the agent has decreasing prudence. …
Persistent link: https://www.econbiz.de/10005753429
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More on parametric characterizations of risk aversion and prudence
Eichner, Thomas; Wagener, Andreas - In: Economic Theory 21 (2003) 4, pp. 895-900
This note provides an alternative proof for the equivalence of decreasing absolute prudence (DAP) in the expected …
Persistent link: https://www.econbiz.de/10005753470
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Risk Aversion, Wealth and Background Risk
Guiso, Luigi; Paiella, Monica - C.E.P.R. Discussion Papers - 2001
We use household survey data to construct a direct measure of absolute risk aversion based on the maximum price a consumer is willing to pay to enter a lottery. We relate this measure to consumers' endowment and attributes and to measures of background risk. We find that risk aversion is a...
Persistent link: https://www.econbiz.de/10005791378