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Individual Risk Attitudes: Measurement, Determinants and Behavioral Consequences
This paper studies risk attitudes using a large representative survey and a complementary experiment conducted with a representative subject pool in subjects’ homes. Using a question asking people
A Theory of Reciprocity
TLDR
The theory takes into account that people evaluate the kindness of an action not only by its consequences but also by the intention underlying this action, and explains the relevant stylized facts of a wide range of experimental games.
Are Risk Aversion and Impatience Related to Cognitive Ability?
Is the way that people make risky choices, or tradeoffs over time, related to cognitive ability? This paper investigates whether there is a link between cognitive ability, risk aversion, and
Reference Points and Effort Provision
A key open question for theories of reference-dependent preferences is what determines the reference point. One candidate is expectations: what people expect could affect how they feel about what
Individual Risk Attitudes: New Evidence from a Large, Representative, Experimentally-Validated Survey
This paper presents new evidence on the distribution of risk attitudes in the population, using a novel set of survey questions and a representative sample of roughly 22,000 individuals living in
The Intergenerational Transmission of Risk and Trust Attitudes
Recent theories endogenize the attitude endowments of individuals, assuming that they are shaped by the attitudes of parents and other role models. This paper tests empirically for the relevance of
Global Evidence on Economic Preferences
This paper studies the global variation in economic preferences. For this purpose, we present the Global Preference Survey (GPS), an experimentally validated survey dataset of time preference, risk
The hidden costs of control
We analyze the consequences of control on motivation in an experimental principalagent game, where the principal can control the agent by implementing a minimum performance requirement before the
Performance Pay and Multi-Dimensional Sorting: Productivity, Preferences and Gender
This paper studies the impact of incentives on worker self-selection in a controlled laboratory experiment. Subjects face the choice between a fixed and a variable payment scheme. Depending on the
On the Nature of Fair Behavior
This Paper shows that identical offers in an ultimatum game generate systematically different rejection rates depending on the other offers that are available to the proposer. This result casts doubt
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