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• (repositories = "EconStor" AND subject = "Theorie" AND publisher = "Christian-Albrechts-Universität Kiel, Department of Economics Kiel")
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repositories = "EconStor" > : "Theorie" (x) > : "Christian-Albrechts-Universität Kiel, Department of Economics Kiel" (x)
1

Found 7 documents, displaying page 1 of 1

An Experimental Investigation of the Disparity between WTA and WTP for Lotteries

Author(s) : Traub, Stefan , Schmidt, Ulrich
Description : In this paper we experimentally investigate the disparity between willingness-to-accept (WTA) and willingness-to-pay (WTP) for risky lotteries. The direction of the income effect is reversed by endowing subjects with the highest price of a lottery when asking the WTP question. Our results show that ...
Repository : EconStor
Language(s) : English

Empirical Tests of Intransitivity Predicted by Models of Risky Choice

Author(s) : Birnbaum, Michael H. , Schmidt, Ulrich
Description : Recently proposed models of risky choice imply systematic violations of transitivity of preference. Five studies explored whether people show patterns of intransitivity predicted by four descriptive models. To distinguish ?true? violations from those produced by ?error,? a model was fit in which eac...
Repository : EconStor
Language(s) : English

Parametric Weighting Functions

Author(s) : Zank, Horst , Schmidt, Ulrich , Diecidue, Enrico
Description : This paper provides behavioral foundations for parametric weighting functions under rankdependent utility. This is achieved by decomposing the independence axiom of expected utility into separate meaningful properties. These conditions allow us to characterize rank-dependent utility with power and e...
Repository : EconStor
Language(s) : English

Friedman, Harsanyi, Rawls, Boulding - or Somebody Else?

Author(s) : Traub, Stefan , Seidl, Christian , Schmidt, Ulrich , Levati, Maria Vittoria
Description : This paper investigates distributive justice using a fourfold experimental design : The ignorance and the risk scenarios are combined with the self-concern and the umpire modes. We study behavioral switches between self-concern and umpire mode and investigate the goodness of ten standards of behavio...
Repository : EconStor
Language(s) : English

Lorenz, Pareto, Pigou: Who Scores Best? Experimental Evidence on Dominance Relations of Income Distributions

Author(s) : Traub, Stefan , Seidl, Christian , Schmidt, Ulrich
Description : Using an experiment with material incentives, this paper investigates the violation of composite dominance relationships, viz. absolute Pareto dominance, Pareto rank dominance, transfer dominance, Lorenz dominance, and generalized Lorenz dominance. Moreover, we test tail independence. The experiment...
Repository : EconStor
Language(s) : English

An Experimental Investigation of Alternatives to Expected Utility Using Pricing Data

Author(s) : Morone, Andrea , Schmidt, Ulrich
Description : Experimental research on decision making under risk has until now always employed choice data in order to evaluate the empirical performance of expected utility and the alternative nonexpected utility theories. The present paper performs a similar analysis which relies on pricing data instead of cho...
Repository : EconStor
Language(s) : English

Self-Insurance and Self-Protection as Public Goods

Author(s) : Schmidt, Ulrich , Robledo, Julio R. , Lohse, Tim
Description : Many public goods like lighthouses and fire departments do not provide direct utility but act as insurance devices against shipwreck and destruction. They either diminish the size and/or the probability of the loss. We extend the public good model with this insurance aspect and generalize Samuelson?...
Repository : EconStor
Language(s) : English
1

Found 7 documents, displaying page 1 of 1