The consequences of many economic decisions only materialize in the future. To make informed choices in such decision … advance tickets for an outdoor movie theater, a real-world situation that, due to the availability of reliable weather … forecasts, closely resembles a stylized decision problem under risk. We find that customers' decisions are heavily influenced by …

Decision makers often take risky decisions on the behalf of others rather than for themselves. Competing theoretical … Risikoaversion im Vergleich zur Situation, bei der der Betroffene selbst die Entscheidung trifft. Die bisherigen empirischen … Ergebnisse aus Laborexperimenten sind ebenso gemischt oder finden keine Unterschiede zwischen der Entscheidung für sich selbst …

The current study examines individual decision making in the field of personal finance. A laboratory experiment … negligible. When naïve advice is given unsolicited, however, it has nevertheless a strong impact on the decision process by … financial literacy buffer this effect, issuing a warning does not. In case compliance with naïve advice leads to a low decision …