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Dynamic decision structure and risk taking

Jürgen Eichberger, Werner Güth () and Wieland Müller

No 1999,95, SFB 373 Discussion Papers from Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes

Abstract: This paper investigates the behaviour in repeated decision situations. The experimental study shows that subjects show low or no risk-aversion, but put very high value on the opportunity to sell the lottery in every stage of the decision problem. There is evidence that risk attitudes depend on whether they are measured by comparing the certainty equivalent and the expected value of a lottery or by preferences over mean-preserving spreads.

Keywords: Dynamic decisions; risk taking behaviour; decision-making experiments (search for similar items in EconPapers)
JEL-codes: C9 D8 D9 (search for similar items in EconPapers)
Date: 1999
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