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...

Unequally-distributed resources, whether people’s income or competence, are ubiquitous in our real world. Whether to promote competition or to lead to a more equal environment is often in question in societies or organizations. With heterogeneous endowments, we let subjects collectively choose...

With heterogeneous endowments, subjects collectively choose between a lottery contest, where only one individual in a group receives an award, and a public good which benefits the less-endowed more. Unlike standard theoretical predictions, the majority of the subjects vote for the public good...