In this paper, the empirical performance of several preference functionals is assessed using individual and group experimental data. We investigate if there is a risky choice theory that fits group decisions better than alternative theories, and if there are significant differences between...

We provide an experimental test of the traveler's dilemma using individual and group data. Our investigation aims to assess whether individual decisions differ significantly from group decisions. Experimental findings reported in this paper show that: (1) groups are always more rational – i.e....

The creation of an innovation niche depends on the interaction of three mechanisms involving: converging expectations, networking among the innovation actors, and learning about the novelty through efficient knowledge creation and diffusion. Such mechanisms define the key characteristics of a...

In this paper we aim - through an 'experimentally-adapted' Contingent Valuation survey - to look into the attributes of Ghanaians' willingness-to-pay for green products. This would help us addressing two main issues: first, from a theoretical point of view, we shall assess whether Ghanaians show...