A continuing goal of experiments is to understand risky decisions when the decisions are important. Often a decision's importance relates to the magnitude of the associated monetary stake. Khaneman and Tversky (1979) argue that risky decisions in high stakes environments can be informed using...

Recent experimental evidence suggests that noisy behavior correlates strongly with cognitive ability. This puts previous studies that found a negative relation between cognitive ability and risk aversion into perspective and in particular raises the question of how to achieve robust inference in...

This paper deals with estimating data from experiments determining lottery certainty equivalents. The paper presents the parametric and nonparametric results of the least squares (mean), quantile (including median) and mode estimations. The examined data are found to be positively skewed for low...