The paper reports the result of an experimental game on asset integration and risk taking. We find evidence that … winnings in earlier rounds affect risk taking in subsequent rounds, but no evidence that real life wealth outside the … experiment affects risk taking. We find some evidence of imitation of the risk taking behavior of others that is distinct from …

incomes fall short of their aspirations. Such people feel propelled to reach their aspirations by taking risk and willing to … aspirations. We find that people whose aspirations exceed their income are less risk-averse and less loss-averse than people whose … incomes exceed their aspirations. We also find that competitive and status-seeking people are less risk-averse than people who …

to deal with measurement errors problems involved in testing for loss aversion. In this dataset, we find strong reference …

We examine a simple measure of portfolio performance based on prospect theory, which captures not only risk and return … but also reflects differential aversion to upside and downside risk. The measure we propose is a ratio of gains to losses …, with the gains and losses weighted (if desired) to reflect risk-aversion for gains and risk-seeking for losses. It can also …

experiment to measure risk attitudes. We find robust evidence of substantial risk aversion. As an extension, we esimate the … various models using transformations of the ‘true’ probabilities to decision weights. The estimated degree of risk aversion … increases further, while players tend to overestimate substantially their chances of winning. Constant Relative Risk Aversion …

In this article, we review the literature on the measurement of trade costs in international trade with a special …