This paper studies the effects of social comparison on risk taking be- havior. In our framework, decision makers evaluate the consequences of their choices as changes with respect to both their own and their peers’ conditions. We test experimentally whether different positions in the social...

To make predictions with theories, usually we assume an individual's characteristics such as uncertainty preferences to be stable over time. In this paper, we analyze the stability of ambiguity preferences experimentally. We repeatedly elicit ambiguity attitudes towards multiple 3-color Ellsberg...

In a principal-agent setting, offering maximum levels of incentives, i.e., the compensation is completely variable, is far from optimal because this reduces the principal`s profits, and because the risk-aversion nature from the agent matters. In this paper, we hypothesize that an incentivized...

Do laboratory experiments provide a reliable basis for measuring field preferences? Economists recognize that preferences can differ across individuals, but only a few attempts have been made to elicit individual preferences for representative samples of a population in a particular geographical...