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Money Does Not Induce Risk Neutral Behavior, but Binary Lotteries Do even Worse

Citations

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Cited by:

  1. Albert Burgos, 2002. "Learning to deal with risk: what does reinforcement learning tell us about risk attitudes?," Economics Bulletin, AccessEcon, vol. 4(10), pages 1-13.
  2. Güth, W., 1997. "Boundedly Rational Decision Emergence -A General Perspective and Some Selective Illustrations-," SFB 373 Discussion Papers 1997,29, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
  3. Berninghaus, Siegfried K. & Todorova, Lora & Vogt, Bodo, 2011. "A simple questionnaire can change everything: Are strategy choices in coordination games stable?," Working Paper Series in Economics 37, Karlsruhe Institute of Technology (KIT), Department of Economics and Management.
  4. Daniela Di Cagno & Werner Güth & Giacomo Sillari, 2015. "The better toolbox: Experimental Methodology in Economics and Psychology," Working Papers CESARE 2/2015, Dipartimento di Economia e Finanza, LUISS Guido Carli.
  5. Arthur Carvalho & Stanko Dimitrov & Kate Larson, 2018. "On proper scoring rules and cumulative prospect theory," EURO Journal on Decision Processes, Springer;EURO - The Association of European Operational Research Societies, vol. 6(3), pages 343-376, November.
  6. Tsakas, Elias, 2018. "Robust scoring rules," Research Memorandum 023, Maastricht University, Graduate School of Business and Economics (GSBE).
  7. Andreoni, James & Che, Yeon-Koo & Kim, Jinwoo, 2007. "Asymmetric information about rivals' types in standard auctions: An experiment," Games and Economic Behavior, Elsevier, vol. 59(2), pages 240-259, May.
  8. Boris Maciejovsky & Tarek El-Sehitya & Hans Haumerb & Christian Helmensteinc & Erich Kirchlerd, "undated". "Hindsight Bias and Individual Risk Attitude within the Context of Experimental Asset Markets," Papers on Strategic Interaction 2002-16, Max Planck Institute of Economics, Strategic Interaction Group.
  9. Siegfried K. Berninghaus & Lora Todorova & Bodo Vogt, 2011. "A Simple Questionnaire Can Change Everything - Are Strategy Choices in Coordination Games Stable?," Jena Economics Research Papers 2011-057, Friedrich-Schiller-University Jena.
  10. Güth, W. & van Damme, E.E.C. & Weber, M., 1995. "Irrational risk aversion on probabilities : Experimental evidence of deciding between lotteries," Other publications TiSEM 98b7aa86-8e5b-4bd2-9684-8, Tilburg University, School of Economics and Management.
  11. Elias Tsakas, 2022. "Belief identification with state-dependent utilities," Papers 2203.10505, arXiv.org, revised Nov 2022.
  12. Fischbacher, Urs & Thöni, Christian, 2008. "Excess entry in an experimental winner-take-all market," Journal of Economic Behavior & Organization, Elsevier, vol. 67(1), pages 150-163, July.
  13. Pope, Robin & Selten, Reinhard, 2009. "Risk and Expected Utility Theory," Bonn Econ Discussion Papers 5/2009, University of Bonn, Bonn Graduate School of Economics (BGSE).
  14. Wolfgang Leininger, 2000. "Auction Theory from an All-Pay View: Buying Binary Lotteries," CESifo Working Paper Series 382, CESifo.
  15. Peter Wakker & Veronika Köbberling & Christiane Schwieren, 2007. "Prospect-theory’s Diminishing Sensitivity Versus Economics’ Intrinsic Utility of Money: How the Introduction of the Euro can be Used to Disentangle the Two Empirically," Theory and Decision, Springer, vol. 63(3), pages 205-231, November.
  16. Harrison, Glenn W. & Martínez-Correa, Jimmy & Swarthout, J. Todd, 2014. "Eliciting subjective probabilities with binary lotteries," Journal of Economic Behavior & Organization, Elsevier, vol. 101(C), pages 128-140.
  17. Di Cagno, Daniela & Güth, Werner & Lohse, Tim & Marazzi, Francesca & Spadoni, Lorenzo, 2024. "Who cares when Value (Mis)reporting may be found out? An Acquiring-a-Company experiment with value messages and information leaks," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 108(C).
  18. Fiore, Annamaria, 2009. "Experimental Economics: Some Methodological Notes," MPRA Paper 12498, University Library of Munich, Germany.
  19. Karl Schlag & James Tremewan & Joël Weele, 2015. "A penny for your thoughts: a survey of methods for eliciting beliefs," Experimental Economics, Springer;Economic Science Association, vol. 18(3), pages 457-490, September.
  20. Martin Jones & Robert Sugden, 2001. "Positive confirmation bias in the acquisition of information," Theory and Decision, Springer, vol. 50(1), pages 59-99, February.
  21. Pope, Robin & Selten, Reinhard, 2009. "Risk in a Simple Temporal Framework for Expected Utility Theory and for SKAT, the Stages of Knowledge Ahead Theory," Bonn Econ Discussion Papers 27/2009, University of Bonn, Bonn Graduate School of Economics (BGSE).
  22. Lora R. Todorova & Siegfried K. Berninghaus & Bodo Vogt, 2011. "A Simple Questionnaire Can Change Everything - Are Strategy Choices in Coordination Games Stable?," FEMM Working Papers 110019, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
  23. Güth, W., 1997. "Boundedly rational decision emergence : A general perspective and some selective illustrations," Other publications TiSEM 82274b49-fe32-449c-bab6-c, Tilburg University, School of Economics and Management.
  24. Ichiro Nishizaki & Tomohiro Hayashida, 2013. "Simulation Analysis for Choice of Binary Lotteries," Computational Economics, Springer;Society for Computational Economics, vol. 41(2), pages 195-211, February.
  25. Armantier, Olivier & Treich, Nicolas, 2013. "Eliciting beliefs: Proper scoring rules, incentives, stakes and hedging," European Economic Review, Elsevier, vol. 62(C), pages 17-40.
  26. Morgan, John & Orzen, Henrik & Sefton, Martin, 2006. "An experimental study of price dispersion," Games and Economic Behavior, Elsevier, vol. 54(1), pages 134-158, January.
  27. T. Ballinger & Eric Hudson & Leonie Karkoviata & Nathaniel Wilcox, 2011. "Saving behavior and cognitive abilities," Experimental Economics, Springer;Economic Science Association, vol. 14(3), pages 349-374, September.
  28. Schlag, Karl H. & van der Weele, Joël J., 2015. "A method to elicit beliefs as most likely intervals," Judgment and Decision Making, Cambridge University Press, vol. 10(5), pages 456-468, September.
  29. Vital Anderhub & Werner Gäuth & Wieland Mäuller & Martin Strobel, 2000. "An Experimental Analysis of Intertemporal Allocation Behavior," Experimental Economics, Springer;Economic Science Association, vol. 3(2), pages 137-152, October.
  30. Max Albert & Vanessa Mertins, 2008. "Participation and Decision Making: A Three-person Power-to-take Experiment," MAGKS Papers on Economics 200805, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  31. Antonio Cabrales & Rosemarie Nagel & Roc Armenter, 2007. "Equilibrium selection through incomplete information in coordination games: an experimental study," Experimental Economics, Springer;Economic Science Association, vol. 10(3), pages 221-234, September.
  32. Diecidue, Enrico & Wakker, Peter P., 2002. "Dutch books: avoiding strategic and dynamic complications, and a comonotonic extension," Mathematical Social Sciences, Elsevier, vol. 43(2), pages 135-149, March.
  33. Evdokimov, Piotr & Rustichini, Aldo, 2016. "Forward induction: Thinking and behavior," Journal of Economic Behavior & Organization, Elsevier, vol. 128(C), pages 195-208.
  34. Harrison, Glenn W. & Martínez-Correa, Jimmy & Swarthout, J. Todd, 2013. "Inducing risk neutral preferences with binary lotteries: A reconsideration," Journal of Economic Behavior & Organization, Elsevier, vol. 94(C), pages 145-159.
  35. Karl Schlag & Joël van der Weele, 2009. "Efficient interval scoring rules," Economics Working Papers 1176, Department of Economics and Business, Universitat Pompeu Fabra.
  36. Jones, Martin K., 2008. "Positive confirmation in rational and irrational learning," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(3), pages 1029-1046, June.
  37. Kirchkamp, O. & Reiss, J.P. & Sadrieh, A., 2008. "A pure variation of risk in private-value auctions," Research Memorandum 050, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  38. Johannes G. Jaspersen & Richard Peter & Marc A. Ragin, 2023. "Probability weighting and insurance demand in a unified framework," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 48(1), pages 63-109, March.
  39. Dickhaut, John & Houser, Daniel & Aimone, Jason A. & Tila, Dorina & Johnson, Cathleen, 2013. "High stakes behavior with low payoffs: Inducing preferences with Holt–Laury gambles," Journal of Economic Behavior & Organization, Elsevier, vol. 94(C), pages 183-189.
  40. Dale, Donald J. & Morgan, John & Rosenthal, Robert W., 2002. "Coordination through Reputations: A Laboratory Experiment," Games and Economic Behavior, Elsevier, vol. 38(1), pages 52-88, January.
  41. Ricciuti, Roberto, 2008. "Bringing macroeconomics into the lab," Journal of Macroeconomics, Elsevier, vol. 30(1), pages 216-237, March.
  42. Navarro, Noemí & Veszteg, Róbert F., 2025. "On welfarism and scale invariance: What do bargainers bargain about?," Journal of Economic Behavior & Organization, Elsevier, vol. 237(C).
  43. Jeremy Clark & Lana Friesen, 2009. "Overconfidence in Forecasts of Own Performance: An Experimental Study," Economic Journal, Royal Economic Society, vol. 119(534), pages 229-251, January.
  44. Siegfried K. Berninghaus & Werner Güth & Charlotte Klempt & Kerstin Pull, 2017. "Assessing Mental Models via Recording Decision Deliberations of Pairs," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 34(2), pages 97-115, November.
  45. Gary Charness & Garance Genicot, 2009. "Informal Risk Sharing in an Infinite‐Horizon Experiment," Economic Journal, Royal Economic Society, vol. 119(537), pages 796-825, April.
  46. Gary Charness, University of California, Santa Barbara and Garance Genicot,Georgetown University, 2004. "An Experimental Test of Risk-Sharing Arrangements," Working Papers gueconwpa~04-04-02, Georgetown University, Department of Economics.
  47. Bleichrodt, Han & Eeckhoudt, Louis, 2006. "Survival risks, intertemporal consumption, and insurance: The case of distorted probabilities," Insurance: Mathematics and Economics, Elsevier, vol. 38(2), pages 335-346, April.
  48. Agranov, Marina & Tergiman, Chloe, 2013. "Incentives and compensation schemes: An experimental study," International Journal of Industrial Organization, Elsevier, vol. 31(3), pages 238-247.
  49. Fabio Galeotti & Maria Montero & Anders Poulsen, 2019. "Efficiency Versus Equality in Bargaining," Journal of the European Economic Association, European Economic Association, vol. 17(6), pages 1941-1970.
  50. Daniela Cagno & Arianna Galliera & Werner Güth & Noemi Pace, 2018. "Behavioral patterns and reduction of sub-optimality: an experimental choice analysis," Theory and Decision, Springer, vol. 85(2), pages 151-177, August.
  51. Joyce E Berg & John W Dickhaut & Thomas A Rietz, 2004. "Preference Reversals: The Impact of Truth-Revealing Incentives," Levine's Bibliography 122247000000000571, UCLA Department of Economics.
  52. Cabrales, Antonio & Garcia-Fontes, Walter & Motta, Massimo, 2000. "Risk dominance selects the leader: An experimental analysis," International Journal of Industrial Organization, Elsevier, vol. 18(1), pages 137-162, January.
  53. Charness, Gary & Gneezy, Uri & Rasocha, Vlastimil, 2021. "Experimental methods: Eliciting beliefs," Journal of Economic Behavior & Organization, Elsevier, vol. 189(C), pages 234-256.
  54. Schram, Arthur & Sonnemans, Joep, 2011. "How individuals choose health insurance: An experimental analysis," European Economic Review, Elsevier, vol. 55(6), pages 799-819, August.
  55. Sofianos, Andis, 2022. "Self-reported & revealed trust: Experimental evidence," Journal of Economic Psychology, Elsevier, vol. 88(C).
  56. Louise Allsopp, 2004. "An Experiment to Investigate the Externalities of Search," The Economic Record, The Economic Society of Australia, vol. 80(251), pages 423-435, December.
  57. Tibor Neugebauer & John Hey & Carmen Pasca, 2010. "Georges-Louis Leclerc de Buffon’s‘Essays on Moral Arithmetic’," LSF Research Working Paper Series 10-06, Luxembourg School of Finance, University of Luxembourg.
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  59. Siegfried K. Berninghaus & Lora R. Todorova & Bodo Vogt, 2012. "How Sensitive is Strategy Selection in Coordination Games?," FEMM Working Papers 120020, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
  60. Morgan, John & Sefton, Martin, 2002. "An Experimental Investigation of Unprofitable Games," Games and Economic Behavior, Elsevier, vol. 40(1), pages 123-146, July.
  61. Cabrales, Antonio & Charness, Gary & Corchon, Luis C., 2003. "An experiment on Nash implementation," Journal of Economic Behavior & Organization, Elsevier, vol. 51(2), pages 161-193, June.
  62. Chambers, Christopher P. & Healy, Paul J. & Lambert, Nicolas S., 2019. "Proper scoring rules with general preferences: A dual characterization of optimal reports," Games and Economic Behavior, Elsevier, vol. 117(C), pages 322-341.
  63. Andreas C. Drichoutis & Jayson L. Lusk, 2016. "What can multiple price lists really tell us about risk preferences?," Journal of Risk and Uncertainty, Springer, vol. 53(2), pages 89-106, December.
  64. Elias Tsakas, 2021. "Identification of misreported beliefs," Papers 2112.12975, arXiv.org.
  65. Dennis Dittrich & Werner Guth & Boris Maciejovsky, 2005. "Overconfidence in investment decisions: An experimental approach," The European Journal of Finance, Taylor & Francis Journals, vol. 11(6), pages 471-491.
  66. Martin Weber & Werner G³th & Eric van Damme, 2005. "Risk Aversion on Probabilities: Experimental Evidence of Deciding Between Lotteries," Homo Oeconomicus, Institute of SocioEconomics, vol. 22, pages 192-209.
  67. Sanchez Villalba, Miguel, 2017. "Global Inspection Games (GIG) in the laboratory," MPRA Paper 80715, University Library of Munich, Germany.
  68. Tsakas, Elias, 2020. "Robust scoring rules," Theoretical Economics, Econometric Society, vol. 15(3), July.
  69. Santos-Pinto, Luís & Park, Young-Joon, 2004. "Forecasts of relative performance in tournaments: evidence from the field," MPRA Paper 3144, University Library of Munich, Germany, revised 22 Mar 2007.
  70. Daniela Di Cagno & Arianna Galliera & Werner Güth & Francesca Marzo & Noemi Pace, 2017. "(Sub) Optimality and (non) optimal satisficing in risky decision experiments," Theory and Decision, Springer, vol. 83(2), pages 195-243, August.
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  72. Pavlo Blavatskyy & Valentyn Panchenko & Andreas Ortmann, 2023. "How common is the common-ratio effect?," Experimental Economics, Springer;Economic Science Association, vol. 26(2), pages 253-272, April.
  73. John Van Huyck & Frederick Rankin & Raymond Battalio, 1999. "What Does it Take to Eliminate the use of a Strategy Strictly Dominated by a Mixture?," Experimental Economics, Springer;Economic Science Association, vol. 2(2), pages 129-150, December.
  74. Jinkwon Lee, 2007. "Repetition And Financial Incentives In Economics Experiments," Journal of Economic Surveys, Wiley Blackwell, vol. 21(3), pages 628-681, July.
  75. Ballinger, T.P. & Palumbo, M.G. & Wilcox, N.T., 1998. "Precautionary Saving in the Laboratory," Papers 98-04, Houston - Department of Economics.
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  77. Berg, Joyce E. & Dickhaut, John W. & Rietz, Thomas A., 2010. "Preference reversals: The impact of truth-revealing monetary incentives," Games and Economic Behavior, Elsevier, vol. 68(2), pages 443-468, March.
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  83. Heger, Stephanie A. & Papageorge, Nicholas W., 2018. "We should totally open a restaurant: How optimism and overconfidence affect beliefs," Journal of Economic Psychology, Elsevier, vol. 67(C), pages 177-190.
  84. Mertins Vanessa & Albert Max, 2015. "Does Participation Increase Outcome Acceptance? Evidence from a Power-to-take Experiment," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 235(6), pages 584-607, December.
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