Investment behavior is traditionally investigated with the assumption that risky investment is on average advantageous. However, this may not always be the case. In this paper, we experimentally studied investment choices made by students and financial professionals under favorable and...

Measuring risk preferences in the field is critical for policy, however, it can be expensive and may generate unequal payoffs due to bad luck. For instance, the commonly used measure of Holt and Laury (2002) relies on a dozen of lottery choices and payments which makes it time consuming and...

Old problems of the mathematical description of the economical behavior of a man are briefly reviewed. They are a comparison of choices of a man between uncertain and sure games and the radically different behavior of a man in different domains. The proposed solution of the problems consists in...

This article analyzes, from the purely mathematical point of view, a general practical problem. The problem consists in the influence of the scatter of experimental data on their mean values (and, possibly, on the probability) near the borders of intervals. The second central moment, the...

In random–lottery incentive methods, the choices of certain (sure) outcomes are stimulated by uncertain lotteries. This inconsistency is evident, but only recently revealed. Certain and uncertain outcomes can differ from each other. The revealed inconsistency can hide this possible difference....

Suppose a random variable takes on values in an interval. The minimal distance from the expectation of the variable to the nearest boundary of the interval is considered here. One of the aims of the present article is also an analysis of the question when this minimal distance can be neglected...