disclosed the payoff structure; (2) the choice treatment in the context of SDM under risk, where the decision makers are … distribution lead to robust deviations from maximisation. The results of the choice treatment show that the risk-averse decision …We everyday engage in the 'Small Decision Making (SDM).' This paper presents an experiment on SDM that consists of the …

Most textbook finance literature assumes risk to be the standard deviation of returns (volatility), which is not only … is consistent with investors’ actual perception of risk. Our method is presenting investors return distributions with … different risk characteristics for which they have to state their perceived risk and make investment decisions. Our results hint …

Despite the intuition that risk preferences affect intertemporal choice because the future is uncertain, time … that risk preferences are fully controlled for in the estimation of time discounting and no longer act as a confounder … despite accounting for the utility curvature—the established approach to control for risk preferences—about 43% of the …

by a theory that captures responses to both the pure quality of decisions and the perceived luck of the decision maker …, in other words, a good decision with moral luck theory …Many economic agents, including CEOs, physicians, entrepreneurs, and political leaders are entrusted with decision …

leader's decision of how much risk to take, we study the effects of two treatment variables: (1) whether group members can … selection mechanisms in group decision-making. In a setting where all members of a group get the same payoff based on the group …'s decision: the communicated preferences have a significant effect on the actual group decision only when the leader is appointed …

Expected utility theory (EUT) is currently the standard framework which formally defines rational decision-making under … behaviour under utility theory is incompatible with scarcity of resources, making behaviour consistent with EUT irrational and …

social context affected risk-taking behavior. Remotely, pairs take far fewer risks when the stakes are high than in the flesh …

The recent literature on individual vs. group decisions over risk has brought about divergent results, mainly depending … members was required found collective decisions to be less risk averse than individual ones. Of course, these studies share …' preferences over risk using a consensus rule, i.e. leaving groups free to endogenously solve the potential disagreement among …

overconfidence. Cognitive uncertainty represents a decision maker's uncertainty about her action optimality. We present a simple …