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Revealing a preference for mixtures : an experimental study of risk

Feldman, Paul; Rehbeck, John - In: Quantitative economics : QE ; journal of the … 13 (2022) 2, pp. 761-786

Using a revealed preference approach, we conduct an experiment where subjects make choices from linear convex budgets …

Persistent link: https://www.econbiz.de/10013382047

False and missed alarms in seasonal forecasts affect individual adaptation choices

Hembach-Stunden, Katharina; Vorlaufer, Tobias; Engel, … - In: Q open : a journal of agricultural, climate, … 4 (2024) 1, pp. 1-22

' responsiveness in the long run. Using an online experiment, we assess how false alarm and missed alarm-prone forecast systems …

Persistent link: https://www.econbiz.de/10015053857

A lab test on the decision not to decide

Schade, Christian D.; Snir, Avichai - In: Business research 13 (2020) 3, pp. 1253-1291

losing assets for too long. We use an experiment with real real-options to study one possible behavioral motivation. Studies … that participants' styles of decision-making and risk aversion as well as the interaction of those can assist in predicting …

Persistent link: https://www.econbiz.de/10012422376

Are decision errors explaining hyperbolic discounting and nonlinear probability weighting?

Holden, Stein Terje; Tione, Sarah; Tilahun, Mesfin; … - 2024

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 …

Persistent link: https://www.econbiz.de/10014581476

Ellsberg meets Keynes at an urn

Chew, Soo-Hong; Miao, Bin; Zhong, Songfa - In: Quantitative economics : QE ; journal of the … 14 (2023) 3, pp. 1133-1162

Keynes (1921) and Ellsberg (1961) have articulated an aversion toward betting on an urn containing balls of two colors of unknown proportion to one with a 50-50 composition. Keynes views this as reflecting different preferences for bets arising from different sources of uncertainty. Ellsberg...

Persistent link: https://www.econbiz.de/10014362573

Inconsistent choices among adolescents in El Salvador

Gonzales, Gladis; Gaviria, Adriana - 2024

This paper examines inconsistencies in the decision-making of a sample of 2,248 adolescents from El Salvador when … skills, and task repetition improve consistency. Lastly, we explore whether inconsistency in decision-making somehow shapes …

Persistent link: https://www.econbiz.de/10015399305

Robust scoring rules

Tsakas, Elias - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 3, pp. 955-987

Is it possible to guarantee that the mere exposure of a subject to a belief elicitation task will not affect the very same beliefs that we are trying to elicit? In this paper, we introduce mechanisms that make it simultaneously strictly dominant for the subject (a) not to acquire any information...

Persistent link: https://www.econbiz.de/10012308719

Measuring trust in institutions and its causal effect

Penczynski, Stefan P.; Santana, Maria Isabel - In: Quantitative economics : QE ; journal of the … 15 (2024) 1, pp. 213-243

We propose a novel way of measuring trust in institutions, which draws on the experimental method used to elicit time preferences. Our measure is provided in the meaningful metric of the subjective probability of trustworthiness of the trustee. In a lab‐in‐the‐field setting in the...

Persistent link: https://www.econbiz.de/10014496994

Does luck make people more optimistic and patient? : lessons from an experiment with students and rural subjects in Malawi

Holden, Stein Terje; Tione, Sarah; Tilahun, Mesfin; … - 2024

We investigate how random luck in repeated variants of the risky investment game of Gneezy, Leonard, and List (2009); Gneezy and Potters (1997) influences risk-taking and discounting behavior in future risky prospects with probabilistic payouts one week, six, 12, and 24 months into the future....

Persistent link: https://www.econbiz.de/10014581500

Measuring price risk aversion through indirect utility functions : a laboratory experiment

Zeytoon-Nejad, Ali - In: Games 13 (2022) 4, pp. 1-43

prices can be measured through the context of the indirect utility function (IUF) using a lab experiment. First, the paper … experiment using a series of relevant statistical tests. This study uses the multiple price list (MPL) method, which has been one …

Persistent link: https://www.econbiz.de/10013368182