of perceived wage risks as potential influences on the sorting decision. To this end, we study a sorting decision between … individual piece rates and team piece rates. Using experimental data, we find evidence for both risk diversification … considerations and free-riding concerns (i.e., risk of teaming-up with low-productive teammates) as drivers of self …

There is a large literature estimating Arrow-Pratt coefficients of absolute and relative risk aversion. A striking … equating these to risk aversion measures defined in a mean-variance framework. This paper shows that while the legitimacy of … the mean-variance approach may hold under general conditions the additional assumptions invoked when estimating the risk …

risk aversion, ambiguity attitude and personality traits are related to an individual’s information acquisition prior to a … decision and to the decision itself based on this information. I focus on urn decisions and conduct treatments that consider … find that risk and ambiguity aversion affect the information acquisition but are less influential for the decisions between …

preferences, a single decision, and a mechanical randomization device with an unknown distribution (to both subjects and …

violations of coalescing (i.e., configural weight theory) instead of violations of compound independence (i.e., rank …-dependent utility or cumulative prospect theory). …

. Participants choose either individually or in groups of three. Group decision rules vary. In one treatment the collective choice is … observe high proportions of ambiguity averse choices in both individual and collective decision making. Although a majority of …, especially if the decision rule assigns asymmetric responsibilities to group members. Previous participation in laboratory …

We study higher-order risk preferences, i.e. prudence and temperance, next to risk aversion in social settings …. Previous experimental studies have shown that higher-order risk preferences affect the choices of individuals deciding … by creating a more realistic decision making environment in the laboratory that allows us to identify the influence of …

high. Attitudes towards risk and attitudes towards ambiguity are disentangled, providing pure measures of ambiguity … aversion. Ambiguity aversion is captured in several ways, i.e. as a discount factor net of a risk premium, and as an estimated … intermediate levels of ambiguity aversion. Moreover, we find risk aversion to be statistically unrelated to ambiguity aversion on …

An extensive literature has studied ambiguity aversion in economic decision making, and how ambiguity aversion can …