Previous studies of mixed gambles (gambles that yield gains and losses) reveal mixed results. Whereas some studies show a tendency to reject highly attractive mixed gambles, other studies show indifference between mixed gambles with an expected value of 0 and the status quo. The current paper...

In this paper, we describe three different experiments that explore participants’ risk attitude. When we analyzed the average results, we found that participants behave as the S-shape value function predicts. However, breaking the data down on the individual level reveals that the S-shape is...

An important issue in the study of asset market bubbles is the extent to which traders are influenced by their perceived performance relative to other traders. Extant research on laboratory asset market bubbles has generally kept performance information private, effectively excluding such...