We suggest that one individual holds multiple degrees of belief about an outcome, given the evidence. We then investigate the implications of such noisy probabilities for a buyer and a seller of binary options and find the odds agreed upon to ensure zero-expectation betting, differ from those...

The term Big Data is being used widely by companies and researchers who consider your relevant functionalities or applications to create value and business innovation. However some questions arise about what is this phenomenon and, more precisely, how it occurs and under what conditions it can...

This paper conducts a systematic comparison of behavioral economics's challenges to the standard accounts of economic behaviors within three dimensions: under risk, over time and regarding other people. A new perspective on two underlying methodological issues, i.e., interdisciplinarity and the...

This paper conducts a systematic comparison of behavioral economics’s challenges to the standard accounts of economic behaviors within three dimensions: under risk, over time and regarding other people. A new perspective on two underlying methodological issues, i.e., interdisciplinarity and...

This paper presents the functional relationship between two areas of interest in contemporary behavioral economics: one concerning choices under conditions of risk, the other concerning choices in time. The paper first presents the general formula of the relationship between decision utility,...

When the discount rate is uncertain, individuals whose preferences are consistent with discounted expected utility, exhibit diminishing impatience. This paper introduces and characterizes a variation of discounted expected utility in which the discount rate depends on the state of the nature...

Halevy (2008) establishes a relation between non-standard behaviors in the domains of risk and time. A decision maker who believes that only present consumption is certain while any future consumption is uncertain exhibits diminishing impatience if and only if her preferences on the risk domain...

Prenatal androgens have organizational effects on brain and endocrine system development, which may have a partial impact on economic decisions. Numerous studies have investigated the relationship between prenatal testosterone and financial risk taking, yet results remain inconclusive. We...

In an experiment that elicits subjects' willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold pattern of risk attitudes described by Kahneman and Tversky. In addition, we document a systematic effect of stake sizes on the magnitude and sign of the relative risk premium,...

Many important decisions are made under stress and they often involve risky alternatives. There has been ample evidence that stress influences decision making in cognitive as well as in affective domains, but still very little is known about whether individual attitudes to risk change with...