We report evidence of an endowment effect for risk, extending previous results to the popular paired-choice lottery … setting. Specifically, we observe a distribution of revealed preferences consistent with risk aversion that diminishes in …

their dissimilarity from the perfectly rational decision making? How to rank subjects by risk attitudes? How to cluster …

We investigate whether violations of canonical axioms of choice under risk are mistakes or a manifestation of true … preferences. Among the behavioral patterns that allow for a clear-cut interpretation on the decision level, we find that roughly …

weighting functions for the risky prospects placed 6 and 12 months into the future. The experiment is used to test whether … decision errors can explain or be highly correlated with hyperbolic discounting and non-linear (inverse-S-shaped) probability … weighting. We find evidence that decision errors are strongly correlated with hyperbolic discounting but do not find that …

Expected utility theory (EUT) is currently the standard framework which formally defines rational decision-making under …

outcomes experienced during the game. Risk aversion decreases after earlier expectations have been shattered by unfavorable …

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 …

We assess the ability of different risk profiling measures to predict risk taking along a multi-stage decision process …-assessed risk tolerance measures are not suitable for predicting risk taking in any stage of the decision process. Among the …. The latter involves decisions under ambiguity, decisions under risk, decisions after gaining experience and decisions …

Decision makers often take risky decisions on the behalf of others rather than for themselves. Competing theoretical … models predict both, higher as well as lower levels of risk aversion when taking risk for others, and the experimental … managers invest significantly less for others than for themselves (cautious shift) which is mainly driven by a less risk averse …

We test the effects of dual processing differences in both individual traits and decision states on risk taking. In an … experiment with a large representative sample (N = 1,832), we vary whether risky choices are induced to be based on either … emotion or reason, while simultaneously measuring individual decision-making traits. Our results show that decision …