concerning choices under conditions of risk, the other concerning choices in time. The paper first presents the general formula … is an alternative to Cumulative Prospect Theory in describing choices under risk (Kontek, 2010). The stretched …

particular, we found that optimism and anxiety were a liability in unfavorable markets, leading to unreasonable levels of risk …. Impulsivity was a liability in both favorable and unfavorable markets, leading to high risk on unfavorable markets, and low risk … in favorable markets. Openness to experience was an asset in unfavorable markets, leading to adjusted risk taking …

Measuring risk preferences in the field is critical for policy, however, it can be expensive and may generate unequal … measurement of risk preferences produces the same findings. Our low-cost approach makes the measurement of risk preferences …

Standard economic theory assumes that individual risk taking decisions are independent from the social context. Recent … experimental evidence however shows that the income of peers has a systematic impact on observed degrees of risk aversion. In … their peers. The present paper is, to the best of our knowledge, the first systematic analysis of income inequality and risk …