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Future events are uncertain by their very nature. Therefore, people's risk preferences are likely to play a role in the … people's risk taking behavior is indeed a significant determinant of their time discounting behavior: Greater departures from …
Persistent link: https://www.econbiz.de/10013159163
Both economists and psychologists are interested in understanding decision making under uncertainty. Yet, they rely on different concepts to analyse human behaviour: Economists use economic preference parameters rooted in utility theory, while psychologists use personality traits to describe...
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materialize over time. Because risk and delay often arise simultaneously, theories of decision making should be capable of … explaining how behavior under risk and over time interacts. There is, in fact, a growing body of evidence indicating important … interactions between behaviorally revealed risk tolerance and patience. Risk taking behavior is delay dependent, and time …
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To make predictions with theories, usually we assume an individual's characteristics such as uncertainty preferences to be stable over time. In this paper, we analyze the stability of ambiguity preferences experimentally. We repeatedly elicit ambiguity attitudes towards multiple 3-color Ellsberg...
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