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Mean, Median or Mode? A Striking Conclusion From Lottery Experiments

Kontek, Krzysztof - 2010

This paper deals with estimating data from experiments determining lottery certainty equivalents. The paper presents the parametric and nonparametric results of the least squares (mean), quantile (including median) and mode estimations. The examined data are found to be positively skewed for low...

Persistent link: https://www.econbiz.de/10015221042

Density Based Regression for Inhomogeneous Data: Application to Lottery Experiments

Kontek, Krzysztof - 2010

This paper presents a regression procedure for inhomogeneous data characterized by varying variance, skewness and kurtosis or by an unequal amount of data over the estimation domain. The concept is based first on the estimation of the densities of an observed variable for given values of...

Persistent link: https://www.econbiz.de/10015221319

Classifying Behaviors in Risky Choices

Kontek, Krzysztof - 2010

This paper presents a nonparametric approach to classification of data from lottery experiments. Using very basic mathematical tools the paper endeavors to answer the questions: How to determine the “average” subject in a group? How to find a subject presenting the most similar behavior to a...

Persistent link: https://www.econbiz.de/10015222315

Classifying Behaviors in Risky Choices

Kontek, Krzysztof - 2010

Persistent link: https://www.econbiz.de/10015222329

Is data interpretation in utility and prospect theories unquestionably correct?

Harin, Alexander - 2014

This is a very draft version of the report "The random-lottery incentive system. Can p~1 experiments deductions be correct?". It is published to extend the abstract of the report. Aczél and Luce emphasized a fundamental question: whether W(1)=1 (whether the Prelec weighting function equals 1 at...

Persistent link: https://www.econbiz.de/10015241206

Fanning-Out or Fanning-In? Continuous or Discontinuous? Estimating Indifference Curves Inside the Marschak-Machina Triangle using Certainty Equivalents.

Kontek, Krzysztof - 2015

This paper introduces a new method of estimating indifference curves in the Marschak-Machina triangle. The method involves posing questions about indifference. Contrary to previous attempts, where subjects were required to identify those lotteries to which they were indifferent vis-à-vis a...

Persistent link: https://www.econbiz.de/10015247405

Continuous or Discontinuous? Estimating Indifference Curves Inside the Marschak-Machina Triangle using Certainty Equivalents.

Kontek, Krzysztof - 2015

This paper presents results of a study, which shed new light on the shape of indifference curves in the Marschak-Machina triangle. The most important observation concerns (possibly discontinuous) jumps in indifference curves at the triangle legs towards the triangle origin. Such jumps, however,...

Persistent link: https://www.econbiz.de/10015247622

Eliciting Risk Preferences: Firefighting in the Field

Dasgupta, Utteeyo; Mani, Subha; Sharma, Smriti; … - 2016

. Our results further indicate that the consistency of risk attitudes across the tasks depends on gender of the subject …

Persistent link: https://www.econbiz.de/10015250907

An Impact Evaluation of Digital Cash Transfers Scheme on Income Poverty in Nigeria

Nwaobi, Godwin - 2023

Just as the African economy is confronting its sharpest reversal in a generation; Nigeria is currently faced with perhaps the most challenging economic downturn (amidst fuel subsidy removal) in its history. Thus, social protection programmes in the form of social cash transfers to vulnerable...

Persistent link: https://www.econbiz.de/10015270516

The term structure of psychological discount rate: characteristics and functional forms

OUATTARA, Aboudou; DE LA BRUSLERIE, Hubert - 2015

The discounted utility theory is a cornerstone of financial theory, particularly in inter-temporal asset pricing and … portfolio management. This theory questioning has opened a whole field of research in psychology, economics, and management, and … experimental study, the violation of the discounted utility theory is confirmed, which means that time preferences could not be …

Persistent link: https://www.econbiz.de/10015253875