In this paper, we show that the right to determine the sequence of moves in a dynamic team tournament improves the chances of winning the contest. Because studying dynamic team tournaments - like R&D races - with interim feedback is difficult with company data, we examine decisions of highly...

In this paper, we show that the right to determine the sequence of moves in a dynamic team tournament improves the chances of winning the contest. Because studying dynamic team tournaments - like R&D races - with interim feedback is difficult with company data, we examine decisions of highly...

In this paper, we show that the right to determine the sequence of moves in a dynamic team tournament improves the chances of winning the contest. Because studying dynamic team tournaments - like R&D races - with interim feedback is difficult with company data, we examine decisions of highly...

We examine whether shrouding or partitioning of a surcharge raises demand in online shopping. In a field experiment with more than 34,000 consumers, we find that consumers in the online shop of a cinema initiate a purchase process for a 3D movie more often when the 3D surcharge is shrouded, but...

We exploit testing data to gain a better understanding of the influence of framing effects on decision-making and performance when facing risk. In a randomized field experiment we modified the framing of grading instructions of multiple-choice tests. In the business-as-usual framing (BAU...

While economists in the past tended to assume that individual preferences, including risk preferences, are stable over time, a recent literature has developed that indicates that risk preferences respond to shocks. This paper combines survey data and field experiments with three different tools...

A variety of measures have been developed to elicit individual risk preferences. How these measures perform in the field, in particular in developing countries with non-student subjects, is still an open question. We implement an artefactual field experiment in rural China to investigate (i)...

This paper contributes towards the development of an empirical approach applicable to contingent valuation to accommodate non-expected utility risk preferences. Combining elicitation approaches used in field experiments with contingent valuation, we embed an experimental design that...

This paper presents new evidence on the distribution of risk attitudes in the population, using a novel set of survey questions and a representative sample of roughly 22,000 individuals living in Germany. Using a question that asks about willingness to take risks on an 11-point scale, we find...

The risk of losses of income and productive means due to adverse weather associated to climate change can significantly differ between farmers sharing a productive landscape. It is important to learn more about how farmers react to different levels of risk, under measurable and unmeasurable...