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Higher order risk preferences: new experimental measures, determinants and field behavior

Schneider, Sebastian O.; Sutter, Matthias - 2020

We use a novel method to elicit and measure higher order risk preferences (prudence and temperance) in an experiment … with 658 adolescents. In line with theoretical predictions, we find that higher order risk preferences - particularly … these domains of field behavior. Thus our paper puts previous work that ignored higher order risk preferences into an …

Persistent link: https://www.econbiz.de/10012270691

Higher order risk preferences : new experimental measures, determinants and field behavior

Schneider, Sebastian O.; Sutter, Matthias - 2020

Persistent link: https://www.econbiz.de/10012271496

Motivational goal bracketing : an experiment

Koch, Alexander K.; Nafziger, Julia - 2017

We study in an online, real-effort experiment how the bracketing of non-binding goals affects performance in a work-leisure self-control problem. We externally induce the goal bracket - daily goals or a weekly goal - and within that bracket let subjects set goals for how much they want to work...

Persistent link: https://www.econbiz.de/10011724493

What's psychology worth? : a field experiment in the consumer credit market

Bertrand, Marianne; Karlan, Dean; Mullainathan, Sendhil; … - 2005

Numerous laboratory studies report on behaviors inconsistent with rational economic models. How much do these inconsistencies matter in natural settings, when consumers make large, real decisions and have the opportunity to learn from experiences? We report on a field experiment designed to...

Persistent link: https://www.econbiz.de/10011612044

Econographics

Chapman, Jonathan; Dean, Mark; Ortoleva, Pietro; … - 2018

We study the pattern of correlations across a large number of behavioral regularities, with the goal of creating an empirical basis for more comprehensive theories of decision-making. We elicit 21 behaviors using an incentivized survey on a representative sample (n = 1;000) of the U.S....

Persistent link: https://www.econbiz.de/10011897575

Molecular Neuroeconomics of Crime and Punishment : Implications for Neurolaw

Takahashi, Taiki - 2013

Criminal behaviors have been associated with risk, time and social preferences in economics (Becker, 1968; Davis, 1988 …

Persistent link: https://www.econbiz.de/10014161277

Unpacking Overconfident Behavior When Betting on Oneself

Abdellaoui, Mohammed; Bleichrodt, Han; Gutierrez, Cédric - 2023

Overconfident behavior, the excessive willingness to bet on one’s performance, may be driven by optimistic beliefs and/or ambiguity attitudes. Separating these factors is key for understanding and correcting overconfident behavior, as they may call for different corrective actions. We present...

Persistent link: https://www.econbiz.de/10014350225

Beliefs as a means of self-control? : evidence from a dynamic student survey

Bönisch, Felix; König, Tobias; … - 2024

We repeatedly elicit beliefs about the returns to study effort, in a large university course. A behavioral model of quasi-hyperbolic discounting and malleable beliefs predicts that the dynamics of beliefs mirrors the importance of exerting self-control, such that believed returns increase as the...

Persistent link: https://www.econbiz.de/10014490754

Determinants of financial literacy and behavioral bias among adolescents

Aschenwald, Marco; Holzknecht, Armando; Kirchler, Michael; … - 2023

-making (i.e., financial knowledge, behavioral consistency, economic preferences, field behavior, and perception of financial …

Persistent link: https://www.econbiz.de/10013483340

An Evolutionary Theory of Overconfidence and Loss Aversion in Adaptive Markets

He, Zhongzhi Lawrence - 2022

This paper develops an agent-based model of learning process that systematically organizes actual choice behavior along the path to equilibrium. The model relies on expected utility maximization to provide directions for economic agents to make choices at the margin toward their ends in adaptive...

Persistent link: https://www.econbiz.de/10013406315