Who wants to be informed — Less risk aversion or more risk aversion?
نویسندگان
چکیده
منابع مشابه
Who Really Wants to be a Millionaire: Estimates of Risk Aversion from Game Show Data
This paper analyses the behaviour of TV gameshow contestants to estimate risk aversion. We are able to show that the gameshow participants are broadly representative of the population as a whole. The gameshow has a number of features that makes it well suited for our analysis: the format is extremely straightforward, it involves no strategic decisionmaking, we have a large number of observation...
متن کاملRisk Aversion or Myopia?
We study how decision makers choose when faced with multiple plays of a gamble or investment. When evaluating multiple plays of a simple mixed gamble, a chance to win x or lose y, subjects show a sensitivity to the amount to lose on a single trial, holding the distribution of returns for the portfolio constant; that is, they display “myopic loss aversion.” Many subjects who decline multiple pla...
متن کاملInequality aversion and risk aversion
This note shows that for two inequality averse social welfare functions, if one is more inequality averse than the other, the household preference induced by optimally allocating aggregate bundles according to this social welfare function is more risk averse than the other. We present examples showing that this comparative static can be reversed if inequality aversion is dropped. We show that t...
متن کاملBehind the Veil of Ignorance: Risk Aversion or Inequality Aversion?
This paper successfully decomposes risk attitude and social preference behind the veil of ignorance. Using a novel experiment wherein subjects move graphically along a slider to divide a pie of money between high and low reward in both lottery and VoI treatments, we are able to collect rich data sets at individual level. We check individual preference characteristics including consistency and h...
متن کاملIs it lie aversion , risk - aversion or tax audit aversion ? Modeling deception under risk and no risk
We studied deceptive decision making in hypothetical scenarios that involved risk of being caught of deceiving, or a penalty after being caught of deceiving, or both. We found that the deception rate was the lowest in the scenarios involving both the risk and the penalty. Our hierarchical model for deception suggests that in balancing the possible benefits from deception, the personal discomfor...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Tsinghua Science and Technology
سال: 2011
ISSN: 1007-0214
DOI: 10.1016/s1007-0214(11)70011-6