challenging traditional models that assume taxes only influence behaviour via the budget constraint. Using a lab experiment, this …

The theory of expected utility maximization (EUM) proposed by Bernoulli explains risk aversion as a consequence of … from the terms offered; and subjects often appear to be too risk averse with regard to small gambles (while still accepting … from judgments based on imprecise (and noisy) mental representation of the decision situation. In this model, risk aversion …

points. The implications of this model are tested in an experiment in which participants have to make a consumption choice …

in social image concerns and attitudes towards lying. We then test its predictions in a laboratory experiment. Subjects …

in social image concerns and attitudes towards lying. We then test its predictions in a laboratory experiment. Subjects …

We conduct a laboratory experiment to explore whether loss aversion applies to social image concerns. First, subjects …

We conduct an experiment to test whether the size of a loss and the time in a losing position affect investors …’ adaptation to the loss situation and, subsequently, whether this adaptation affects future investment decisions. As investors … performance, together influence the decision to hold on to or to capitulate on an investment. We study the relative contribution …