In an experimental setting, subjects face a standard elicitation task for certainty equivalents. We show that when a third, objectively irrelevant, option is added to the standard task, the willingness to take risks increases.

While experimental research on social dilemmas focuses on the distribution of gains, we analyze social preferences in the case of losses. In this experimental study, the participants share a loss in a Nash bargaining game, but waiting time, instead of monetary losses, serves as an incentive....