Reflection Effect Under Different Risk Attitudes
Abstract„Reflection effect“ means, that people are risk averse if dealing with profits and risk seeking by challenging losses (Kahneman and Tversky, 1979). The aim of the paper is to find out whether the decisions of the experiment participants differ when dealing with positive and negative prospects by choosing a preferred lottery. Standardized scale (DOSPERT) evaluating the participant willingness to take risk in different domains of life is also considered. An econometric model for predictions of the paired lottery game results depending on the risk characteristics identified within DOSPERT is estimated in the paper.
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Bibliographic InfoArticle provided by Alexandru Ioan Cuza University, Faculty of Economics and Business Administration in its journal Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi.
Volume (Year): 58 (2011)
Issue (Month): (november)
Contact details of provider:
Postal: Universitatea Al. I. Cuza; B-dul Carol I nr. 22; Iasi
Phone: 004 0232 201070
Fax: 004 0232 217000
Web page: http://anale.feaa.uaic.ro/anale/
More information through EDIRC
reflection effect; experiment; lottery; risk; DOSPERT (Domain-Specific Risk- Taking) scale;
Find related papers by JEL classification:
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- Z1 - Other Special Topics - - Cultural Economics
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