risk and typically need to assume stability of these characteristics over time and across decision domains. We test the … reliability of two choice tasks for eliciting discount rates, risk aversion, and probability weighting and assess the stability of … largely uncorrelated with decisions in other important life domains involving intertemporal trade-offs and risk. …

We study reputational herding in financial markets in a laboratory experiment. In the spirit of Dasgupta and Prat (2008 … employers. Employers can observe investment behavior, but not investors' ability types. Thereby, reputational incentives may …

-based questionnaire before the experiment and participants' preferences for resolution timing, risk, and time were incentive compatibly … measured during the experiment. Main findings are that delayed resolution can affect investment, that the effect depends on the …This experimental study is concerned with the impact of the timing of the resolution of risk on people's willingness to …

In an experiment that elicits subjects’ willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold … pattern of risk attitudes described by Kahneman and Tversky. In addition, we document a systematic effect of stake sizes on … the magnitude and sign of the relative risk premium, holding fixed both the probability that a lottery pays off and the …

subjects form motivated beliefs to self-justify their excessive risk-taking. For the same investment opportunity, subjects …This paper investigates whether limited liability and moral hazard affect risk-taking through motivated beliefs. On the … invest more and are significantly more optimistic about the success of the investment if their failure can harm others. We …

differences in performance in the real effort task, we observe a strong gender gap in sabotage choices in our experiment. This gap …

In this paper we use an experiment to compare a theory of risk aversion and a theory of spite as an explanation for … overbidding in auctions. As a workhorse we use the second-price all-pay and the first-price winner-pay auction. Both risk and … spite can be used to rationalize deviations from risk neutral equilibrium bids in auctions. We exploit that equilibrium …

candidate is expectations: what people expect could affect how they feel about what actually occurs. In a real-effort experiment …

By means of a laboratory experiment, we show that, contrary to standard consumer theory, financially equivalent balance … a given net worth with values of assets and debt that are financially certain and risk-free, a greater asset-debt ratio …