Napp, Clotilde; Jouini, Elyès; Ben Mansour, Selima - Université Paris-Dauphine (Paris IX) - 2006
The aim of this paper is to determine whether individuals exhibit a behavioral bias towards pessimism in their beliefs, in a lottery or more generally in an investment opportunities framework. For this purpose, we design a field survey on a sample of 1,540 individuals aiming at deriving a...