We obtain rich measurements of risk preferences for 2939 subjects across 30 countries, and use the data to paint a … picture of the distribution of risk preferences across the globe using structural equation models. Reference‐dependence and … those in Western countries, with poorer countries substantially more risk tolerant than rich countries on average. We …

We study the correlation of choice under risk in Holt-Laury lotteries for gains and losses with gender, the use of … the digit ratio (2D:4D) in more than 200 subjects. In males, salivary testosterone is negatively correlated with risk … aversion for gains only. In females, salivary cortisol is positively correlated with risk aversion for gains only. No other …

Prospect theory (PT) is the dominant descriptive theory of decision making under risk today. For the modeling of … choices, PT relies on a psychologically founded separation of risk attitudes into attitudes towards outcomes, captured in a … in stakes on risk attitudes. We find that the stake increase is not reflected in the value function, but rather in the …