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Cognitive imprecision and stake-dependent risk attitudes

Khaw, Mel Win; Li, Ziang; Woodford, Michael - 2022

In an experiment that elicits subjects' willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold …

Persistent link: https://www.econbiz.de/10013364933

Quantifying lottery choice complexity

Enke, Benjamin; Shubatt, Cassidy - 2023

We develop interpretable, quantitative indices of the objective and subjective complexity of lottery choice problems that can be computed for any standard dataset. These indices capture the predicted error rate in identifying the lottery with the highest expected value, where the predictions are...

Persistent link: https://www.econbiz.de/10014340230

The formation of risk preferences through small-scale events

Angerer, Silvia; Dutcher, E. Glenn; Glätzle-Rützler, … - 2021

experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In … second lottery almost a year later. The same pattern emerges in another experiment with 136 subjects where the second lottery …

Persistent link: https://www.econbiz.de/10012607585

Ambiguity attitudes of individuals and groups in gain and loss domains

Minnich, Aljoscha; Lange, Andreas - 2023

the experiment. Moreover, the group effect on the ambiguity-generated insensitivity seems domain dependent. …

Persistent link: https://www.econbiz.de/10014431395

Peer effects in risk taking

Lahno, Amrei M.; Serra-Garcia, Marta - 2012 - This version: Dec 20, 2012, First version: July 13, 2012

; social preferences ; laboratory experiment …

Persistent link: https://www.econbiz.de/10009691154

Still in search of the sunk cost bias

Negrini, Marcello; Riedl, Arno; Wibral, Matthias - 2020

psychological channels underlying such a bias is scarce. We present a laboratory experiment designed to investigate the sunk cost …

Persistent link: https://www.econbiz.de/10012299784

Can risk-taking preferences be modified? : some experimental evidence

Booth, Alison L.; Nolen, Patrick - 2014

We summarise our two sets of controlled experiments designed to see if single-sex classes within coeducational environments modify students' risk-taking attitudes. In Booth and Nolen (2012b), subjects are in years 10 and 11, while in Booth, Cardona-Sosa and Nolen (2014), they are first-year...

Persistent link: https://www.econbiz.de/10010344873

On the psychological foundations of ambiguity and compound risk aversion

Wu, Keyu; Fehr, Ernst; Hofland, Sean; Schonger, Martin - 2024

Ambiguous prospects are ubiquitous in social and economic life, but the psychological foundations of behavior under ambiguity are still not well understood. One of the most robust empirical regularities is the strong correlation between attitudes towards ambiguity and compound risk which...

Persistent link: https://www.econbiz.de/10014551421

Skewness preferences : evidence from online poker

Dertwinkel-Kalt, Markus; Kasinger, Johannes; Schneider, … - 2024

We test for skewness preferences in a large set of observational panel data on online poker games (n=4,450,585). Each observation refers to a choice between a safe option and a binary risk of winning or losing the game. Our setting offers a real-world choice situation with substantial incentives...

Persistent link: https://www.econbiz.de/10014486803

Investment, resolution of risk, and the role of affect

Winden, Frans A. A. M. van; Krawczyk, Michał; … - 2010

-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 … not captured by existing models. -- investment decision ; delayed resolution of risk ; emotions ; experiment …

Persistent link: https://www.econbiz.de/10003942107