risk preferences. Here, we develop an analogous tool for choice under uncertainty – the ambiguity triangle – and show that … characterize this heterogeneity with finite-mixture estimates of a one-parameter extension of Expected Utility Theory wherein 48 …

Does adverse selection hamper the effectiveness of voluntary risk sharing? How do differences in risk profiles affect … vary how risk profiles differ between individuals. We find strong evidence for adverse selection if individuals risk … profiles can be ranked according to first-order stochastic dominance and only little evidence for adverse selection if risk …

the realized state of the world. In a second experiment, risk affects the earnings of givers but not of beneficiaries. We …The decision how to share resources with others often needs to be taken under uncertainty on its allocational … consequences. Although risk preferences are likely important, existing research is silent about how social and risk preferences …

the United States, although most of the arguments translate immediately to decision-making in other countries. There are …

-based questionnaire before the experiment and participants’ preferences for resolution timing, risk, and time were incentive compatibly …This experimental study is concerned with the impact of the timing of the resolution of risk on people’s willingness to … inferred from decisions regarding hypothetical choice problems, we had participants put their own money at risk in a real …

The theory of expected utility maximization (EUM) proposed by Bernoulli explains risk aversion as a consequence of … from judgments based on imprecise (and noisy) mental representation of the decision situation. In this model, risk aversion … from the terms offered; and subjects often appear to be too risk averse with regard to small gambles (while still accepting …

of free choice of risk on sharing, i.e. the comparison of mean sharing across randomized treatments, is not informative … effect equals the behavioural effect. Instead, isolating the behavioural effect requires conditioning on risk exposure. We … show that a design that measures subjects preferred level of risk in all treatments allows isolating this effect without …

-based questionnaire before the experiment and participants' preferences for resolution timing, risk, and time were incentive compatibly …This experimental study is concerned with the impact of the timing of the resolution of risk on people's willingness to … inferred from decisions regarding hypothetical choice problems, we had participants put their own money at risk in a real …

arrangements in developing countries, is sensitive to the extent to which individuals can influence their risk exposure. With slum … of subjects reduces willingness to give when risk exposure is a choice. Responses are limited to donors in the risky … of solidarity with unlucky losers compared to donors and partners assigned to the safe project when they face risk for …