Endowment effects in the risky investment game?
نویسندگان
چکیده
Abstract The risky investment game of Gneezy and Potters (Q J Econ 112(2):631–645, 1997) has been proposed as a simple tool to measure risk aversion in applied settings, especially attractive settings where participants may have limited education. However, this can produce significant endowment effect (attached the initial position), so that analysis behavior should not be done Expected Utility Theory (EUT) framework. paper illustrates point, by showing tolerance much higher when concerns lottery.
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ژورنال
عنوان ژورنال: Theory and Decision
سال: 2021
ISSN: ['1573-7187', '0040-5833']
DOI: https://doi.org/10.1007/s11238-021-09821-4