IDEAS home Printed from https://ideas.repec.org/r/nbr/nberte/0081.html
   My bibliography  Save this item

The Influence Of Probability on Risky Choice: A parametric Examination

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as


Cited by:

  1. Bruno Jullien & Bernard Salanie, 2000. "Estimating Preferences under Risk: The Case of Racetrack Bettors," Journal of Political Economy, University of Chicago Press, vol. 108(3), pages 503-530, June.
  2. Jan (J.B.) Engelmann & Basil Schmid & Justin Chumbley & Ernst Fehr, 2018. "The Dark Side of Personality: Anti-Sociality Increases Strategic Game Play," Tinbergen Institute Discussion Papers 18-010/I, Tinbergen Institute.
  3. Kpegli, Yao Thibaut & Corgnet, Brice & Zylbersztejn, Adam, 2023. "All at once! A comprehensive and tractable semi-parametric method to elicit prospect theory components," Journal of Mathematical Economics, Elsevier, vol. 104(C).
  4. Foster, Gigi & Frijters, Paul & Schaffner, Markus & Torgler, Benno, 2018. "Expectation formation in an evolving game of uncertainty: New experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 154(C), pages 379-405.
  5. Kliger, Doron & Levy, Ori, 2009. "Theories of choice under risk: Insights from financial markets," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 330-346, August.
  6. Gigi Foster & Paul Frijters & Markus Schaffner & Benno Torgler, 2013. "Expectation Formation in an Evolving Game of Uncertainty: Theory and New Experimental Evidence," CREMA Working Paper Series 2013-19, Center for Research in Economics, Management and the Arts (CREMA).
  7. Feess, Eberhard & Müller, Helge & Schumacher, Christoph, 2016. "Estimating risk preferences of bettors with different bet sizes," European Journal of Operational Research, Elsevier, vol. 249(3), pages 1102-1112.
  8. Zahra Murad & Martin Sefton & Chris Starmer, 2016. "How do risk attitudes affect measured confidence?," Journal of Risk and Uncertainty, Springer, vol. 52(1), pages 21-46, February.
  9. Nathalie Etchart-Vincent, 2009. "Probability weighting and the ‘level’ and ‘spacing’ of outcomes: An experimental study over losses," Journal of Risk and Uncertainty, Springer, vol. 39(1), pages 45-63, August.
  10. Jonathan Ingersoll, 2008. "Non‐Monotonicity of the Tversky‐Kahneman Probability‐Weighting Function: A Cautionary Note," European Financial Management, European Financial Management Association, vol. 14(3), pages 385-390, June.
  11. Peter Brooks & Simon Peters & Horst Zank, 2014. "Risk behavior for gain, loss, and mixed prospects," Theory and Decision, Springer, vol. 77(2), pages 153-182, August.
  12. Loreto Llorente & Josemari Aizpurua, 2006. "A BETTING MARKET: Description and a theoretical explanation of bets in Pelota Matches," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0603, Departamento de Economía - Universidad Pública de Navarra.
  13. Ariane Charpin, 2018. "Tests des modèles de décision en situation de risque. Le cas des parieurs hippiques en France," Revue économique, Presses de Sciences-Po, vol. 69(5), pages 779-803.
  14. Breuer, Wolfgang & Perst, Achim, 2007. "Retail banking and behavioral financial engineering: The case of structured products," Journal of Banking & Finance, Elsevier, vol. 31(3), pages 827-844, March.
  15. Dennery, Charles & Direr, Alexis, 2014. "Optimal lottery," Journal of Mathematical Economics, Elsevier, vol. 55(C), pages 15-23.
  16. Luís Santos-Pinto & Adrian Bruhin & José Mata & Thomas Åstebro, 2015. "Detecting heterogeneous risk attitudes with mixed gambles," Theory and Decision, Springer, vol. 79(4), pages 573-600, December.
  17. Mohammed Abdellaoui & Frank Vossmann & Martin Weber, 2005. "Choice-Based Elicitation and Decomposition of Decision Weights for Gains and Losses Under Uncertainty," Management Science, INFORMS, vol. 51(9), pages 1384-1399, September.
  18. Thomas Dohmen & Simone Quercia & Jana Willrodt, 2018. "Willingness to take risk: The role of risk conception and optimism," CRC TR 224 Discussion Paper Series crctr224_2018_023, University of Bonn and University of Mannheim, Germany.
  19. Bahaji, Hamza & Casta, Jean-François, 2016. "Employee stock option-implied risk attitude under Rank-Dependent Expected Utility," Economic Modelling, Elsevier, vol. 52(PA), pages 144-154.
  20. Syngjoo Choi & Jeongbin Kim & Eungik Lee & Jungmin Lee, 2022. "Probability Weighting and Cognitive Ability," Management Science, INFORMS, vol. 68(7), pages 5201-5215, July.
  21. Ayako Suzuki & Koichi Kume, 2008. "Aging, Probability Weighting, and Reference Point Adoption: An Experimental Study," ISER Discussion Paper 0720, Institute of Social and Economic Research, Osaka University.
  22. Canales, Elizabeth & Bergtold, Jason S. & Williams, Jeffery & Peterson, Jeffrey, 2015. "Estimating farmers’ risk attitudes and risk premiums for the adoption of conservation practices under different contractual arrangements: A stated choice experiment," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205640, Agricultural and Applied Economics Association.
  23. Diecidue, Enrico & Schmidt, Ulrich & Zank, Horst, 2009. "Parametric weighting functions," Journal of Economic Theory, Elsevier, vol. 144(3), pages 1102-1118, May.
  24. Dichtl, Hubert & Drobetz, Wolfgang, 2011. "Portfolio insurance and prospect theory investors: Popularity and optimal design of capital protected financial products," Journal of Banking & Finance, Elsevier, vol. 35(7), pages 1683-1697, July.
  25. Francisco Galarza, 2009. "Choices under risk in rural peru," Artefactual Field Experiments 00047, The Field Experiments Website.
  26. Jakusch, Sven Thorsten, 2017. "On the applicability of maximum likelihood methods: From experimental to financial data," SAFE Working Paper Series 148, Leibniz Institute for Financial Research SAFE, revised 2017.
  27. Thomas Epper & Helga Fehr-Duda & Adrian Bruhin, 2011. "Viewing the future through a warped lens: Why uncertainty generates hyperbolic discounting," Journal of Risk and Uncertainty, Springer, vol. 43(3), pages 169-203, December.
  28. Hüseyin İlker Erçen & Hüseyin Özdeşer & Turgut Türsoy, 2022. "The Impact of Macroeconomic Sustainability on Exchange Rate: Hybrid Machine-Learning Approach," Sustainability, MDPI, vol. 14(9), pages 1-19, April.
  29. Ferdinand M. Vieider & Clara Villegas-Palacio & Peter Martinsson & Milagros Mejía, 2016. "Risk Taking For Oneself And Others: A Structural Model Approach," Economic Inquiry, Western Economic Association International, vol. 54(2), pages 879-894, April.
  30. Jonathan Ingersoll, 2007. "Non-Monotonicity of the Tversky-Kahneman Probability-Weighting Function: A Cautionary Note," Yale School of Management Working Papers amz2432, Yale School of Management, revised 01 Nov 2007.
  31. Jean Desrochers & J. Francois Outreville, 2013. "Uncertainty, Ambiguity and Risk Taking: an experimental investigation of consumer behavior and demand for insurance," ICER Working Papers 10-2013, ICER - International Centre for Economic Research.
  32. Andreas C. Drichoutis & Varvara Kechagia, 2016. "The effect of olfactory sensory cues on economic decision making," Working Papers 2016-4, Agricultural University of Athens, Department Of Agricultural Economics.
  33. Zhixin Xie & Lionel Page & Ben Hardy, 2016. "Investigating gender differences under time pressure in financial risk taking," QuBE Working Papers 045, QUT Business School.
  34. Salvatore Greco & Fabio Rindone, 2014. "The bipolar Choquet integral representation," Theory and Decision, Springer, vol. 77(1), pages 1-29, June.
  35. L'Haridon, Olivier, 2009. "Behavior in the loss domain: An experiment using the probability trade-off consistency condition," Journal of Economic Psychology, Elsevier, vol. 30(4), pages 540-551, August.
  36. Marcello Basili & Alain Chateauneuf & Fulvio Fontini, 2005. "Choices Under Ambiguity With Familiar And Unfamiliar Outcomes," Theory and Decision, Springer, vol. 58(2), pages 195-207, March.
  37. Levon Barseghyan & Francesca Molinari & Ted O'Donoghue & Joshua C. Teitelbaum, 2013. "The Nature of Risk Preferences: Evidence from Insurance Choices," American Economic Review, American Economic Association, vol. 103(6), pages 2499-2529, October.
  38. Sonja van Well & John P O’Doherty & Frans van Winden, 2019. "Relief from incidental fear evokes exuberant risk taking," PLOS ONE, Public Library of Science, vol. 14(1), pages 1-19, January.
  39. Birnbaum, Michael H., 2007. "Tests of branch splitting and branch-splitting independence in Allais paradoxes with positive and mixed consequences," Organizational Behavior and Human Decision Processes, Elsevier, vol. 102(2), pages 154-173, March.
  40. M.S.M. Lim & G. Jocham & L.T. Hunt & T.E.J. Behrens & R.D. Rogers, 2015. "Impulsivity and predictive control are associated with suboptimal action-selection and action-value learning in regular gamblers," International Gambling Studies, Taylor & Francis Journals, vol. 15(3), pages 489-505, December.
  41. Christopher Schwand & Rudolf Vetschera & Lea Wakolbinger, 2010. "The influence of probabilities on the response mode bias in utility elicitation," Theory and Decision, Springer, vol. 69(3), pages 395-416, September.
  42. Loreto Llorente & Josemari Aizpurua, 2008. "A Betting Market: Description and a Theoretical Explanation of Bets in Pelota Matches," Theory and Decision, Springer, vol. 64(2), pages 421-446, March.
  43. Daniel Cavagnaro & Mark Pitt & Richard Gonzalez & Jay Myung, 2013. "Discriminating among probability weighting functions using adaptive design optimization," Journal of Risk and Uncertainty, Springer, vol. 47(3), pages 255-289, December.
  44. Mohammed Abdellaoui & Olivier L'Haridon & Corina Paraschiv, 2011. "Experienced vs. Described Uncertainty: Do We Need Two Prospect Theory Specifications?," Management Science, INFORMS, vol. 57(10), pages 1879-1895, October.
  45. Han Bleichrodt & Jose Luis Pinto & Peter P. Wakker, 2001. "Making Descriptive Use of Prospect Theory to Improve the Prescriptive Use of Expected Utility," Management Science, INFORMS, vol. 47(11), pages 1498-1514, November.
  46. Rieger, Marc Oliver & Wang, Mei, 2004. "Cumulative prospect theory and the St.Petersburg paradox," Papers 04-28, Sonderforschungsbreich 504.
  47. Vinod, H. D., 2004. "Ranking mutual funds using unconventional utility theory and stochastic dominance," Journal of Empirical Finance, Elsevier, vol. 11(3), pages 353-377, June.
  48. Nathalie Etchart-Vincent, 2009. "The shape of the utility function under risk in the loss domain and the "ruinous losses" hypothesis: some experimental results," Economics Bulletin, AccessEcon, vol. 29(2), pages 1393-1402.
  49. Thomas Dohmen & Simone Quercia & Jana Willrodt, 2023. "On the psychology of the relation between optimism and risk taking," Journal of Risk and Uncertainty, Springer, vol. 67(2), pages 193-214, October.
  50. Antonio Filippin & Paolo Crosetto, 2016. "A Reconsideration of Gender Differences in Risk Attitudes," Management Science, INFORMS, vol. 62(11), pages 3138-3160, November.
  51. Lisheng He & Pantelis P. Analytis & Sudeep Bhatia, 2022. "The Wisdom of Model Crowds," Management Science, INFORMS, vol. 68(5), pages 3635-3659, May.
  52. Elizabeth Canales & Jason S. Bergtold & Jeffery R. Williams, 2024. "Conservation intensification under risk: An assessment of adoption, additionality, and farmer preferences," American Journal of Agricultural Economics, John Wiley & Sons, vol. 106(1), pages 45-75, January.
  53. Kechagia, Varvara & Drichoutis, Andreas C., 2017. "The effect of olfactory sensory cues on willingness to pay and choice under risk," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 70(C), pages 33-46.
  54. Häckel, Björn & Pfosser, Stefan & Tränkler, Timm, 2017. "Explaining the energy efficiency gap - Expected Utility Theory versus Cumulative Prospect Theory," Energy Policy, Elsevier, vol. 111(C), pages 414-426.
  55. Breuer, Wolfgang & Hauten, Guido & Kreuz, Claudia, 2009. "Financial instruments with sports betting components: Marketing gimmick or a domain for behavioral finance?," Journal of Banking & Finance, Elsevier, vol. 33(12), pages 2241-2252, December.
  56. Vincent Laferrière & David Staubli & Christian Thöni, 2023. "Explaining Excess Entry in Winner-Take-All Markets," Management Science, INFORMS, vol. 69(2), pages 1050-1069, February.
  57. Manel Baucells & Franz H. Heukamp, 2006. "Stochastic Dominance and Cumulative Prospect Theory," Management Science, INFORMS, vol. 52(9), pages 1409-1423, September.
  58. Giannikos, Christos I. & Kakolyris, Andreas & Suen, Tin Shan, 2023. "Prospect theory and a manager's decision to trade a blind principal bid basket," Global Finance Journal, Elsevier, vol. 55(C).
  59. Martina Nardon & Paolo Pianca, 2014. "European option pricing with constant relative sensitivity probability weighting function," Working Papers 2014:25, Department of Economics, University of Venice "Ca' Foscari".
  60. Eyal Baharad & Doron Kliger, 2013. "Market failure in light of non-expected utility," Theory and Decision, Springer, vol. 75(4), pages 599-619, October.
  61. Du, Shaofu & Peng, Jing & Nie, Tengfei & Yu, Yugang, 2020. "Pricing strategies and mechanism choice in reward-based crowdfunding," European Journal of Operational Research, Elsevier, vol. 284(3), pages 951-966.
  62. Walther Herbert, 2005. "Optimal Taxation of Gambling and Lotto," Working Papers geewp47, Vienna University of Economics and Business Research Group: Growth and Employment in Europe: Sustainability and Competitiveness.
  63. Miles S. Kimball & Collin B. Raymond & Jiannan Zhou & Junya Zhou & Fumio Ohtake & Yoshiro Tsutsui, 2024. "Happiness Dynamics, Reference Dependence, and Motivated Beliefs in U.S. Presidential Elections," NBER Working Papers 32078, National Bureau of Economic Research, Inc.
  64. Han Bleichrodt & Jose Luis Pinto, 2000. "A Parameter-Free Elicitation of the Probability Weighting Function in Medical Decision Analysis," Management Science, INFORMS, vol. 46(11), pages 1485-1496, November.
  65. Martina Nardon & Paolo Pianca, 2019. "Behavioral premium principles," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 42(1), pages 229-257, June.
  66. Oliver, Adam, 2003. "The internal consistency of the standard gamble: tests after adjusting for prospect theory," Journal of Health Economics, Elsevier, vol. 22(4), pages 659-674, July.
  67. Wilton, Edgar & Delarue, Erik & D’haeseleer, William & van Sark, Wilfried, 2014. "Reconsidering the capacity credit of wind power: Application of cumulative prospect theory," Renewable Energy, Elsevier, vol. 68(C), pages 752-760.
  68. Kliger, Doron & Levy, Ori, 2010. "Overconfident investors and probability misjudgments," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 39(1), pages 24-29, January.
  69. Serfilippi, Elena & Carter, Michael & Guirkinger, Catherine, 2015. "Certain and Uncertain Utility and Insurance Demand: Results From a Framed Field Experiment in Burkina Faso," 2015 Conference, August 9-14, 2015, Milan, Italy 211384, International Association of Agricultural Economists.
  70. Lionel Page, 2012. "‘It ain’t over till it's over.’ Yogi Berra bias on prediction markets," Applied Economics, Taylor & Francis Journals, vol. 44(1), pages 81-92, January.
  71. Chris Starmer, 2000. "Developments in Non-expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk," Journal of Economic Literature, American Economic Association, vol. 38(2), pages 332-382, June.
  72. Fehr-Duda, Helga & Epper, Thomas & Bruhin, Adrian & Schubert, Renate, 2011. "Risk and rationality: The effects of mood and decision rules on probability weighting," Journal of Economic Behavior & Organization, Elsevier, vol. 78(1-2), pages 14-24, April.
  73. Michael Kilka & Martin Weber, 2001. "What Determines the Shape of the Probability Weighting Function Under Uncertainty?," Management Science, INFORMS, vol. 47(12), pages 1712-1726, December.
  74. José Lara Resende & George Wu, 2010. "Competence effects for choices involving gains and losses," Journal of Risk and Uncertainty, Springer, vol. 40(2), pages 109-132, April.
  75. M. Pelé & M. Broihanne & B. Thierry & J. Call & V. Dufour, 2014. "To bet or not to bet? Decision-making under risk in non-human primates," Journal of Risk and Uncertainty, Springer, vol. 49(2), pages 141-166, October.
  76. Wang, Di, 2021. "Attention-driven probability weighting," Economics Letters, Elsevier, vol. 203(C).
  77. Oliver, Adam, 2003. "The internal consistency of the standard gamble: tests after adjusting for prospect theory," LSE Research Online Documents on Economics 159, London School of Economics and Political Science, LSE Library.
  78. Jakusch, Sven Thorsten & Meyer, Steffen & Hackethal, Andreas, 2019. "Taming models of prospect theory in the wild? Estimation of Vlcek and Hens (2011)," SAFE Working Paper Series 146, Leibniz Institute for Financial Research SAFE, revised 2019.
  79. Cheremukhin, Anton & Popova, Anna & Tutino, Antonella, 2015. "A theory of discrete choice with information costs," Journal of Economic Behavior & Organization, Elsevier, vol. 113(C), pages 34-50.
  80. Charles-Cadogan, G., 2018. "Probability interference in expected utility theory," Journal of Mathematical Economics, Elsevier, vol. 78(C), pages 163-175.
  81. Li, Zheng & Hensher, David A. & Zeng, Jingjing, 2022. "Travel choice behaviour under uncertainty in real-market settings: A source-dependent utility approach," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 168(C).
  82. Tobias Thomas Prietzel, 2020. "The effect of emotion on risky decision making in the context of prospect theory: a comprehensive literature review," Management Review Quarterly, Springer, vol. 70(3), pages 313-353, August.
  83. Jochen Bigus, 2015. "Loss Aversion, Audit Risk Judgments, and Auditor Liability," European Accounting Review, Taylor & Francis Journals, vol. 24(3), pages 581-606, September.
  84. Mohammed Abdellaoui, 2000. "Parameter-Free Elicitation of Utility and Probability Weighting Functions," Management Science, INFORMS, vol. 46(11), pages 1497-1512, November.
  85. Andreas Hönl & Philip Meissner & Torsten Wulf, 2020. "Betting the farm and playing it safe? Hyper-core self-evaluation in decisions when managers are winning and losing," Business Research, Springer;German Academic Association for Business Research, vol. 13(3), pages 1293-1316, November.
  86. Ann Dryden Witte & Robert Witt, 2001. "What We Spend and What We Get: Public and Private Provision of Crime Prevention," NBER Working Papers 8204, National Bureau of Economic Research, Inc.
  87. Hadar, Liat & Fischer, Ilan, 2008. "Giving advice under uncertainty: What you do, what you should do, and what others think you do," Journal of Economic Psychology, Elsevier, vol. 29(5), pages 667-683, November.
  88. Niko Suhonen & Jani Saastamoinen & Mika Linden, 2018. "A dual theory approach to estimating risk preferences in the parimutuel betting market," Empirical Economics, Springer, vol. 54(3), pages 1335-1351, May.
  89. Drew Fudenberg & Wayne Gao & Annie Liang, 2020. "How Flexible is that Functional Form? Quantifying the Restrictiveness of Theories," Papers 2007.09213, arXiv.org, revised Aug 2023.
  90. Loreto Llorente, 2006. "Rank Dependent Expected Utility in the Pelota Betting System: an Experiment," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0604, Departamento de Economía - Universidad Pública de Navarra.
  91. Kontek, Krzysztof & Birnbaum, Michael H., 2019. "The impact of middle outcomes on lottery valuations," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 78(C), pages 30-44.
  92. Rapoport, Amnon & Chung Lo, Alison King & Zwick, Rami, 2002. "Choice of Prizes Allocated by Multiple Lotteries with Endogenously Determined Probabilities," Organizational Behavior and Human Decision Processes, Elsevier, vol. 87(1), pages 180-206, January.
  93. Erner, Carsten & Klos, Alexander & Langer, Thomas, 2013. "Can prospect theory be used to predict an investor’s willingness to pay?," Journal of Banking & Finance, Elsevier, vol. 37(6), pages 1960-1973.
  94. Stahl, Dale O., 2018. "Assessing the forecast performance of models of choice," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 73(C), pages 86-92.
  95. George Wu & Alex B. Markle, 2008. "An Empirical Test of Gain-Loss Separability in Prospect Theory," Management Science, INFORMS, vol. 54(7), pages 1322-1335, July.
  96. Martina Nardon & Paolo Pianca, 2019. "European option pricing under cumulative prospect theory with constant relative sensitivity probability weighting functions," Computational Management Science, Springer, vol. 16(1), pages 249-274, February.
  97. Oliver, Adam, 2003. "A quantitative and qualitative test of the Allais paradox using health outcomes," Journal of Economic Psychology, Elsevier, vol. 24(1), pages 35-48, February.
  98. Helga Fehr-Duda & Marc Schürer & Renate Schubert, 2006. "What Determines the Shape of the Probability Weighting Function?," CER-ETH Economics working paper series 06/54, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  99. Alain Guéniche & Philippe Dupuy & Wan Ni Lai, 2023. "Price contingent and price-volume contingent portfolio strategies," Journal of Asset Management, Palgrave Macmillan, vol. 24(3), pages 173-183, May.
  100. Sneddon, Robert & Luce, R. Duncan, 2001. "Empirical Comparisons of Bilinear and Nonbilinear Utility Theories," Organizational Behavior and Human Decision Processes, Elsevier, vol. 84(1), pages 71-94, January.
  101. Walther, Herbert, 2010. "Anomalies in intertemporal choice, time-dependent uncertainty and expected utility - A common approach," Journal of Economic Psychology, Elsevier, vol. 31(1), pages 114-130, February.
IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.