Goals as reference points in marathon running: A novel test of reference dependence
In a large-scale field study of marathon runners, we test whether goals act as reference
points in sha** the valuation of outcomes. Theories of reference-dependent preferences …
points in sha** the valuation of outcomes. Theories of reference-dependent preferences …
Variance, skewness and multiple outcomes in described and experienced prospects: Can one descriptive model capture it all?
We determined the scope of five decision models of choices across four environmental
niches defined by whether outcome probabilities are described (risk) or experienced by …
niches defined by whether outcome probabilities are described (risk) or experienced by …
Lottery-and survey-based risk attitudes linked through a multichoice elicitation task
We analyze the results from three different risk attitude elicitation methods. First, the broadly
used test by Holt and Laury (2002), HL, second, the lottery-panel task by Sabater-Grande …
used test by Holt and Laury (2002), HL, second, the lottery-panel task by Sabater-Grande …
Prospect theory, constant relative risk aversion, and the investment horizon
Prospect Theory (PT) and Constant-Relative-Risk-Aversion (CRRA) preferences have clear-
cut and very different implications for the optimal asset allocation between a riskless asset …
cut and very different implications for the optimal asset allocation between a riskless asset …
Do people care about loss probabilities?
S Zeisberger - Journal of Risk and Uncertainty, 2022 - Springer
In a series of experiments, we provide evidence that people pay special attention to the
probability of losing. We first analyze this behavior in the typically used one-shot choice …
probability of losing. We first analyze this behavior in the typically used one-shot choice …
An inter-temporal CAPM based on First order Stochastic Dominance
M Levy - European Journal of Operational Research, 2022 - Elsevier
Abstract The inter-temporal Capital Asset Pricing Model (CAPM) assumes that investors are
risk-averse. However, there is a very large body of empirical and experimental evidence …
risk-averse. However, there is a very large body of empirical and experimental evidence …
Catastrophic risk: indication, quantitative assessment and management of rare extreme events using a non-expected utility framework
G Geiger - Annals of Operations Research, 2024 - Springer
The paper develops a conceptual framework for the analysis and management of
catastrophic risk. The framework serves to assess rare extreme events in systematic …
catastrophic risk. The framework serves to assess rare extreme events in systematic …
Risk taking after absolute and relative wealth changes: The role of reference point adaptation
H Chao, CY Ho, X Qin - Journal of Risk and Uncertainty, 2017 - Springer
We conducted an experiment to compare subjects' attitudes toward risk before and after they
experienced wealth changes induced by a real-effort task. We identified and estimated the …
experienced wealth changes induced by a real-effort task. We identified and estimated the …
Risk Taking with Left- and Right-Skewed Lotteries*
While much literature has focused on preferences regarding risk, preferences over
skewness also have significant economic implications. An important and understudied …
skewness also have significant economic implications. An important and understudied …
Risk-taking and skewness-seeking behavior in a demographically diverse population
We study the interaction between risk-taking and skewness-seeking behavior among a
demographically diverse sample of French adults using an experiment that elicits certainty …
demographically diverse sample of French adults using an experiment that elicits certainty …