risk and typically need to assume stability of these characteristics over time and across decision domains. We test the … reliability of two choice tasks for eliciting discount rates, risk aversion, and probability weighting and assess the stability of … largely uncorrelated with decisions in other important life domains involving intertemporal trade-offs and risk. …

risk and typically need to assume stability of these characteristics over time and across decision domains. We test the … reliability of two choice tasks for eliciting discount rates, risk aversion, and probability weighting and assess the stability of … largely uncorrelated with decisions in other important life domains involving intertemporal trade-offs and risk …

risk and typically need to assume stability of these characteristics over time and across decision domains. We test the … reliability of two choice tasks for eliciting discount rates, risk aversion, and probability weighting and assess the stability of … largely uncorrelated with decisions in other important life domains involving intertemporal trade-offs and risk …

Measuring risk aversion is sensitive to assumptions about the wealth in subjects' utility functions. Data from the same … simultaneously with risk aversion. This paper first shows how wealth estimates can be identified assuming constant relative risk … aversion (CRRA). Using the data from a recent experiment by Holt and Laury (2002), it is shown that most subjects' behavior is …

risk than individuals in the investment task . In our consultation treatments we find evidence of peer effects: there is …We investigate experimentally the effect of consultation (unincentivized advice) on choices under risk in an … incentivized investment task. We compare these choices to two benchmark treatments: one with isolated individual choices, and a …

In a laboratory experiment, we measure subjects' willingness to pay for a transparently useless decision right …

laboratory experiment in which subjects purchase products associated with externalities. In six between-subjects treatments, we …

Loss aversion has been shown to be an important driver of people’s investment decisions. Encouraged by regulators …, financial institutions are in search of ways to incorporate clients’ loss aversion in their risk classifications. The most … risk-profiling application of an established financial institution. In total, we elicit loss aversion for 1,040 employees …

investment rules that depend on endogenously determined current and past prices. We find that market instability, leading to …, conditioning investment decisions on asset prices implies that dominance of an investment rule on others, as measured by the …. Second, the feedback existing between past realized prices and current investment decisions can lead to a form of …