This study explores how people learn and adapt their risk preferences using different elicitation methods, challenging the neoclassical theory that suggests preferences are fixed. Instead, we show that preferences can change. However, we aim to explain whether the observed changes are due to a...

In this work, we conducted a laboratory experiment in order to test the findings of a theoretical environmental enforcement model played as a strategic game where the firm’s behavior is influenced by the course of actions discretionally undertaken by both the U.S. Environmental Protection...

In this paper we aim to look into the attributes of Ghanaians’ willingness-to-pay for green products. This would help us to assess whether Ghanaians show a preference towards environmental goods. The methodology employed to address these issues is an ‘experimentally-adapted’ CV survey...

There is abundant literature in experimental research on decision making under risk, which compares, and ranks subjects’ preferences on the basis of some elicitation method. The present paper performs a similar analysis in order to compare them. Since pricing data lead in many cases to some...

We investigate the effect of intragroup competition and risky marginal per capita returns on subjects' cooperative behavior in a one-shot public good game – following the wellknown approach proposed by Fischbacher, Gächter, and Fehr (2001) and extending the Colasante et al. (2019) and...

In this paper we analyse the empirical performance of several preference functionals using individual and group data. Our investigation aims to address two fundamental questions that have, until now, not been addressed in literature. Specifically, we intend to assess if there exists a risky...

This paper provides an experimental test of the traveller’s dilemma using individual and group data. Our investigation aims to address three fundamental research questions, which can be summarised as follows: (i) claims are affected by the size of the penalty/reward; (ii) individual decisions...

This experimental study investigates insurance decisions in low-probability, high-loss risk situations. Results indicate that subjects consider the probability of loss (loss size) when they make buying decisions (paying decisions). Most individuals are risk averse with no specific threshold...

The recent literature on individual vs. group decisions over risk has brought about divergent results, mainly depending on the institutional rules through which groups take decisions. While some studies where group decisions relied on the majority rule showed no appreciable difference between...

Recent theoretical research suggest that yardstick competition may be biased by the presence of fiscal disparities between local governments and that fiscal equalization may help in correcting this bias. This paper provides an empirical test of these theoretical predictions by means of a...