Risk Aversion in Experiments PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Risk Aversion in Experiments PDF full book. Access full book title Risk Aversion in Experiments by G.W. Harrison. Download full books in PDF and EPUB format.
Author: G.W. Harrison
Publisher: Emerald Group Publishing
ISBN: 1849505470
Category : Business & Economics
Languages : en
Pages : 449
Get Book Here
Book Description
Presents research utilizing laboratory experimental methods in economics.
Author: G.W. Harrison
Publisher: Emerald Group Publishing
ISBN: 1849505470
Category : Business & Economics
Languages : en
Pages : 449
Get Book Here
Book Description
Presents research utilizing laboratory experimental methods in economics.
Author: Charles R. Plott
Publisher: Elsevier
ISBN: 0444826424
Category : Business & Economics
Languages : en
Pages : 1175
Get Book Here
Book Description
While the field of economics makes sharp distinctions and produces precise theory, the work of experimental economics sometimes appears blurred and may produce uncertain results. The contributors to this volume have provided brief notes describing specific experimental results.
Author: Jana Sadeh
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Glenn W. Harrison
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
Does individual behavior in a laboratory setting provide a reliable indicator of behavior in a naturally occurring setting? We consider this general methodological question in the context of eliciting risk attitudes. The controls that are typically employed in laboratory settings, such as the use of abstract lotteries, could lead subjects to employ behavioral rules that differ from the ones they employ in the field. Since it is field behavior that we are interested in understanding, those controls might be a confound in themselves if they result in differences in behavior. We find that the use of artificial monetary prizes provides a reliable measure of risk attitudes when the natural counterpart outcome has minimal uncertainty, but that it can provide an unreliable measure when the natural counterpart outcome has background risk. These results are consistent with conventional expected utility theory for the effects of background risk on attitudes to risk. Behavior tended to be risk-loving when artificial monetary prizes were used or when there was minimal uncertainty in the natural non-monetary outcome. But subjects drawn from the same population were risk-averse when their attitudes were elicited using the natural non-monetary outcome that had some background risk. Theory predicts this effect of background risk, but not the change from risk-loving to risk-aversion.
Author: Michał Wiktor Krawczyk
Publisher: Rozenberg Publishers
ISBN: 903610145X
Category :
Languages : en
Pages : 171
Get Book Here
Book Description
Author: Mark Machina
Publisher: Newnes
ISBN: 0444536868
Category : Business & Economics
Languages : en
Pages : 897
Get Book Here
Book Description
The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance Divides coverage between theoretical, empirical, and experimental findings Makes the economics of risk and uncertainty accessible to scholars in fields outside economics
Author: G.W. Harrison
Publisher: Emerald Group Publishing
ISBN: 0762313846
Category : Business & Economics
Languages : en
Pages : 449
Get Book Here
Book Description
Presents research utilizing laboratory experimental methods in economics.
Author: Richard B. McKenzie
Publisher: Springer Science & Business Media
ISBN: 3642015867
Category : Business & Economics
Languages : en
Pages : 319
Get Book Here
Book Description
Mainstream economists everywhere exhibit an "irrational passion for dispassionate rationality." Behavioral economists, and long-time critic of mainstream economics suggests that people in mainstrean economic models "can think like Albert Einstein, store as much memory as IBM’s Big Blue, and exercise the will power of Mahatma Gandhi," suggesting that such a view of real world modern homo sapiens is simply wrongheaded. Indeed, Thaler and other behavioral economists and psychology have documented a variety of ways in which real-world people fall far short of mainstream economists' idealized economic actor, perfectly rational homo economicus. Behavioral economist Daniel Ariely has concluded that real-world people not only exhibit an array of decision-making frailties and biases, they are "predictably irrational," a position now shared by so many behavioral economists, psychologists, sociologists, and evolutionary biologists that a defense of the core rationality premise of modedrn economics is demanded.
Author: Adam Sanoé Booij
Publisher: Rozenberg Publishers
ISBN: 9036101190
Category :
Languages : en
Pages : 174
Get Book Here
Book Description
Author: Glenn W. Harrison
Publisher:
ISBN: 9780868396842
Category : Profit
Languages : en
Pages : 9
Get Book Here
Book Description
