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 …

experiments. Contrary to the traditional view of expected utility theory, the choices can be explained in large part by previous … outcomes experienced during the game. Risk aversion decreases after earlier expectations have been shattered by unfavorable … outcomes or surpassed by favorable outcomes. Our results point to reference-dependent choice theories such as prospect theory …

We present a preference foundation for Chance Theory (CT), a model of decision making under uncertainty where the … rationality principles like first-order stochastic dominance or transitivity. Decision makers with CT-preferences always prefer … the expected value of a lottery to the latter, so they are weakly risk averse. Besides explaining behavioral …

relationship between risk attitudes and the decision to trust an anonymous partner. Our experiments include two behavioral risk … the behavioral risk measures and the decision to trust. With additional control variables, there is a weak relationship … between risk measured from the survey and the decision to trust …

" (RMORSA) to improve risk-to-reward decision-making in general, and business planning in particular. This paper profiles …Insurance companies can leverage the regulatory requirement of a "Risk Management Own Risk and Solvency Assessment …