Theoretical papers show that optimal prevention decisions in the sense of selfprotection (i.e., primary prevention) depend not only on the level of (second-order) risk aversion but also on higher-order risk preferences such as prudence (third-order risk aversion). We study empirically whether...

Viele Menschen neigen dazu, das schlechteste Ergebnis einer Entscheidung zu vermeiden. Das könnte bei einer Corona-Impfung relevant werden. Wann ein Impfstoff gegen das Coronavirus für weite Teile der deutschen Bevölkerung verfügbar sein wird, ist noch offen. Eines zeichnet sich jedoch schon...

Theoretical papers show that optimal prevention decisions in the sense of selfprotection (i.e., primary prevention) depend not only on the level of (second-order) risk aversion but also on higher-order risk preferences such as prudence (third-order risk aversion). We study empirically whether...

Wann ein Impfstoff gegen das Coronavirus für weite Teile der deutschen Bevölkerung verfügbar sein wird, ist noch offen. Eines zeichnet sich jedoch schon ab: Die Impfung soll in Deutschland freiwillig sein. Damit stellt sich die Frage, wie man es schafft, möglichst viele Menschen von einer...

Theoretical papers show that optimal prevention decisions in the sense of self-protection (i.e., primary prevention) depend not only on the level of (second-order) risk aversion but also on higher-order risk preferences such as prudence (third-order risk aversion). We study empirically whether...

We study risk-aversion and prudence in medical treatment decisions. In a laboratory experiment, we investigate the frequency and intensity of second- and third-order risk preferences, as well as the effect of the medical decision context. Risk preferences are assessed through treatment...

We study higher-order risk preferences, i.e. prudence and temperance, next to risk aversion in social settings. Previous experimental studies have shown that higher-order risk preferences affect the choices of individuals deciding privately on lotteries that only affect their own pay-off. Yet,...