Joshua C. Teitelbaum

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We use data on households' deductible choices in auto and home insurance to estimate a structural model of risky choice that incorporates "standard" risk aversion (concave utility over …nal wealth), loss aversion, and nonlinear probability weighting. Our estimates indicate that nonlinear probability weighting plays the most important role in explaining the(More)
There is a large literature that attempts to estimate risk preferences from field data (e. (home insurance); Barseghyan et al. forthcoming (auto and home insurance)). Many of the studies in this literature consider nonstandard models of risk preferences. One particular model that has received a great deal of attention is " probability weighting. " The idea(More)
We survey the literature on estimating risk preferences using …eld data–i.e., data on individuals'real-world economic behavior. We mostly limit our attention to studies in which risk preferences are the focal object and estimating their structure is the core enterprise. We motivate shining a spotlight on this literature with an example that highlights why(More)
We use data on households' deductible choices in auto and home insurance to estimate a structural model of risky choice that incorporates "standard" risk aversion (concave utility over …nal wealth), loss aversion, and nonlinear probability weighting. Our estimates indicate that nonlinear probability weighting plays the most important role in explaining the(More)
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