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Does the COVID-19 pandemic change individuals’ risk preference? J. Risk Uncertain. (IF 3.977) Pub Date : 2024-03-27 Tomohide Mineyama, Kiichi Tokuoka
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Choice under uncertainty and cognitive load J. Risk Uncertain. (IF 3.977) Pub Date : 2024-03-14
Abstract Does exposure to cognitive load affect key properties of economic behavior? In this experiment, subjects face a series of simple binary decision tasks between prospects, testing for monotonicity in monetary payments, consistency with (first-order) stochastic dominance, reduction of compound lotteries, risk attitudes, and ambiguity attitudes. Cognitive load is manipulated via simultaneous memory
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Are physicians rational under ambiguity? J. Risk Uncertain. (IF 3.977) Pub Date : 2024-03-01 Yu Gao, Zhenxing Huang, Ning Liu, Jia Yang
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Menu-dependent risk attitudes: Theory and evidence J. Risk Uncertain. (IF 3.977) Pub Date : 2024-02-28 Zhuo Chen, Russell Golman, Jason Somerville
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COVID-19 vaccine and risk-taking J. Risk Uncertain. (IF 3.977) Pub Date : 2024-02-23 Shanike J. Smart, Solomon W. Polachek
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A double-bounded risk-risk trade-off analysis of heatwave-related mortality risk: Evidence from India J. Risk Uncertain. (IF 3.977) Pub Date : 2024-02-19
Abstract As climate variability is increasing, extreme events such as temperature fluctuations are expected to become more frequent. Low- and middle-income countries (LMICs) are especially vulnerable to heat-related variability and its ensuing impacts on mortality. Therefore, there is an urgent need to understand how citizens in LMICs trade-off climate-related mortality risks with other risks such
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Ambiguity attitudes toward natural and artificial sources in gain and loss domains J. Risk Uncertain. (IF 3.977) Pub Date : 2024-01-31 Masahide Watanabe, Toshio Fujimi
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Optimal e-cigarette policy when preferences and internalities are correlated J. Risk Uncertain. (IF 3.977) Pub Date : 2024-01-25 Michael E. Darden
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The determinants of decision time in an ambiguous context J. Risk Uncertain. (IF 3.977) Pub Date : 2024-01-02 Anna Conte, Gianmarco De Santis, John D. Hey, Ivan Soraperra
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Dynamic inconsistency under ambiguity: An experiment J. Risk Uncertain. (IF 3.977) Pub Date : 2023-12-22 Rocco Caferra, John D. Hey, Andrea Morone, Marco Santorsola
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Delegated risk-taking, accountability, and outcome bias J. Risk Uncertain. (IF 3.977) Pub Date : 2023-09-12 Robert M. Gillenkirch, Louis Velthuis
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“Injury risk, concussions, race, and pay in the NFL” J. Risk Uncertain. (IF 3.977) Pub Date : 2023-08-08 Quinn A. W. Keefer, Thomas J. Kniesner
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Learning your own risk preferences J. Risk Uncertain. (IF 3.977) Pub Date : 2023-06-22 Gary Charness, Nir Chemaya, Dario Trujano-Ochoa
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On the psychology of the relation between optimism and risk taking J. Risk Uncertain. (IF 3.977) Pub Date : 2023-06-12 Thomas Dohmen, Simone Quercia, Jana Willrodt
In this paper, we provide an explanation for why risk taking is related to optimism. Using a laboratory experiment, we show that the degree of optimism predicts whether people tend to focus on the positive or negative outcomes of risky decisions. While optimists tend to focus on the good outcomes, pessimists focus on the bad outcomes of risk. The tendency to focus on good or bad outcomes of risk in
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Ambiguity aversion and the degree of ambiguity J. Risk Uncertain. (IF 3.977) Pub Date : 2023-06-12 Ronald Klingebiel, Feibai Zhu
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Windfall gains and house money: The effects of endowment history and prior outcomes on risky decision–making J. Risk Uncertain. (IF 3.977) Pub Date : 2023-06-02 Hauke Jelschen, Ulrich Schmidt
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Advantageous selection without moral hazard J. Risk Uncertain. (IF 3.977) Pub Date : 2023-05-26 Philippe De Donder, Marie-Louise Leroux, François Salanié
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Paying for randomization and indecisiveness J. Risk Uncertain. (IF 3.977) Pub Date : 2023-05-23 Qiyan Ong, Jianying Qiu
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Monetary values of increasing life expectancy: Sensitivity to shifts of the survival curve J. Risk Uncertain. (IF 3.977) Pub Date : 2023-05-10 James K. Hammitt, Tuba Tunçel
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How risky is distracted driving? J. Risk Uncertain. (IF 3.977) Pub Date : 2023-05-04 J. Bradley Karl, Charles M. Nyce, Lawrence Powell, Boyi Zhuang
We use data on fatal crashes to quantify the risk of distracted driving. We repurpose, extend, and improve a methodology used to estimate the riskiness of drinking drivers (Levitt & Porter, 2001). Our analysis suggests that distracted drivers are three times more likely to cause a fatal crash than focused drivers. We also estimate that distracted drivers represent three to four percent of drivers on
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The predictive power of risk elicitation tasks J. Risk Uncertain. (IF 3.977) Pub Date : 2023-05-03 Michele Garagnani
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Estimating risk and time preferences over public lotteries: Findings from the field and stream J. Risk Uncertain. (IF 3.977) Pub Date : 2023-03-04 David Scrogin
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The locus of dread for mass shooting risks: Distinguishing alarmist risk beliefs from risk preferences J. Risk Uncertain. (IF 3.977) Pub Date : 2023-02-25 Rachel E. Dalafave, W. Kip Viscusi
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Effects of e-cigarette minimum legal sales ages on youth tobacco use in the United States J. Risk Uncertain. (IF 3.977) Pub Date : 2023-01-14 Michael F. Pesko
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Safe options and gender differences in risk attitudes J. Risk Uncertain. (IF 3.977) Pub Date : 2023-01-14 Paolo Crosetto, Antonio Filippin
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Strategic ambiguity and risk in alternating pie-sharing experiments J. Risk Uncertain. (IF 3.977) Pub Date : 2023-01-07 Anna Conte, Werner Güth, Paul Pezanis-Christou
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Towards a typology of risk preference: Four risk profiles describe two-thirds of individuals in a large sample of the U.S. population J. Risk Uncertain. (IF 3.977) Pub Date : 2022-12-22 Renato Frey, Shannon M. Duncan, Elke U. Weber
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Seen and not seen: How people judge ambiguous behavior during the COVID-19 pandemic J. Risk Uncertain. (IF 3.977) Pub Date : 2022-12-12 Andras Molnar, Alex Moore, Carman Fowler, George Wu
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Controlling ambiguity: The illusion of control in choice under risk and ambiguity J. Risk Uncertain. (IF 3.977) Pub Date : 2022-12-06 Alex Berger, Agnieszka Tymula
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An inquiry into the nature and causes of the Description - Experience gap J. Risk Uncertain. (IF 3.977) Pub Date : 2022-10-25 Robin Cubitt, Orestis Kopsacheilis, Chris Starmer
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Risk and rationality: The relative importance of probability weighting and choice set dependence J. Risk Uncertain. (IF 3.977) Pub Date : 2022-10-15 Adrian Bruhin, Maha Manai, Luís Santos-Pinto
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Do people care about loss probabilities? J. Risk Uncertain. (IF 3.977) Pub Date : 2022-10-06 Stefan Zeisberger
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Risk and time preferences interaction: An experimental measurement J. Risk Uncertain. (IF 3.977) Pub Date : 2022-10-06 Jeeva Somasundaram, Vincent Eli
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Effect of a brief intervention on respondents’ subjective perception of time and discount rates J. Risk Uncertain. (IF 3.977) Pub Date : 2022-08-27 W. David Bradford, Meriem Hodge Doucette
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Individual characteristics associated with risk and time preferences: A multi country representative survey J. Risk Uncertain. (IF 3.977) Pub Date : 2022-08-16 Thomas Meissner, Xavier Gassmann, Corinne Faure, Joachim Schleich
This paper empirically analyzes how individual characteristics are associated with risk aversion, loss aversion, time discounting, and present bias. To this end, we conduct a large-scale demographically representative survey across eight European countries. We elicit preferences using incentivized multiple price lists and jointly estimate preference parameters to account for their structural dependencies
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Chance theory: A separation of riskless and risky utility J. Risk Uncertain. (IF 3.977) Pub Date : 2022-07-27 Ulrich Schmidt, Horst Zank
In a temporal context, sure outcomes may yield higher utility than risky ones as they are available for the execution of plans before the resolution of uncertainty. By observing a disproportionate preference for certainty, empirical research points to a fundamental difference between riskless and risky utility. Chance Theory (CT) accounts for this difference and, in contrast to earlier approaches to
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Personalized information and willingness to pay for non-financial risk prevention: An experiment J. Risk Uncertain. (IF 3.977) Pub Date : 2022-07-26 Yves Arrighi, David Crainich, Véronique Flambard, Sophie Massin
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Biased survival expectations and behaviours: Does domain specific information matter? J. Risk Uncertain. (IF 3.977) Pub Date : 2022-07-25 Joan Costa-Font, Cristina Vilaplana-Prieto
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Risky choice: Probability weighting explains independence axiom violations in monkeys J. Risk Uncertain. (IF 3.977) Pub Date : 2022-07-22 Simone Ferrari-Toniolo, Leo Chi U. Seak, Wolfram Schultz
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Pay every subject or pay only some? J. Risk Uncertain. (IF 3.977) Pub Date : 2022-07-14 Lisa R. Anderson, Beth A. Freeborn, Patrick McAlvanah, Andrew Turscak
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The impact of risk aversion and ambiguity aversion on annuity and saving choices J. Risk Uncertain. (IF 3.977) Pub Date : 2022-07-02 Eric André, Antoine Bommier, François Le Grand
We analyze the impact of risk aversion and ambiguity aversion on the competing demands for annuities and bequeathable savings using a lifecycle recursive utility model. Our main finding is that risk aversion and ambiguity aversion have similar effects: an increase in either of the two reduces annuity demand and enhances bond holdings. We obtain this unequivocal result in the flexible intertemporal
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Choice uncertainty and the endowment effect J. Risk Uncertain. (IF 3.977) Pub Date : 2022-06-16 Christina McGranaghan, Steven G. Otto
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Fatalism, beliefs, and behaviors during the COVID-19 pandemic J. Risk Uncertain. (IF 3.977) Pub Date : 2022-06-02 Jesper Akesson, Sam Ashworth-Hayes, Robert Hahn, Robert Metcalfe, Itzhak Rasooly
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The limits of reopening policy to alter economic behavior: New evidence from Texas J. Risk Uncertain. (IF 3.977) Pub Date : 2022-05-27 Dhaval Dave, Joseph J. Sabia, Samuel Safford
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Strength of preference and decisions under risk J. Risk Uncertain. (IF 3.977) Pub Date : 2022-05-23 Carlos Alós-Ferrer, Michele Garagnani
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Self-serving dishonesty: The role of confidence in driving dishonesty J. Risk Uncertain. (IF 3.977) Pub Date : 2022-05-19 Stephanie A. Heger, Robert Slonim, Franziska Tausch
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Smoking, selection, and medical care expenditures J. Risk Uncertain. (IF 3.977) Pub Date : 2022-04-30 Michael E. Darden, Robert Kaestner
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Risk-taking and others J. Risk Uncertain. (IF 3.977) Pub Date : 2022-04-20 Annika Lindskog, Peter Martinsson, Haileselassie Medhin
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On the role of monetary incentives in risk preference elicitation experiments J. Risk Uncertain. (IF 3.977) Pub Date : 2022-04-20 Andreas Hackethal, Michael Kirchler, Christine Laudenbach, Michael Razen, Annika Weber
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Perceptions of personal and public risk: Dissociable effects on behavior and well-being J. Risk Uncertain. (IF 3.977) Pub Date : 2022-04-02 Laura K. Globig, Bastien Blain, Tali Sharot
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How does risk preference change under the stress of COVID-19? Evidence from Japan J. Risk Uncertain. (IF 3.977) Pub Date : 2022-03-22 Yoshiro Tsutsui, Iku Tsutsui-Kimura
In this study, we investigated whether the risk preference systematically changed during the spread of COVID-19 in Japan. Traditionally, risk preference is assumed to be stable over one’s life, though it differs among individuals. While recent studies have reported that it changes with a large event like natural disasters and financial crisis, they have not reached a consensus on its direction, risk
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A behavioral decomposition of willingness to pay for health insurance J. Risk Uncertain. (IF 3.977) Pub Date : 2022-03-22 Aurélien Baillon, Aleli Kraft, Owen O’Donnell, Kim van Wilgenburg
Despite widespread exposure to substantial medical expenditure risk in low-income populations, health insurance enrollment is typically low. This is puzzling from the perspective of expected utility theory. To help explain it, this paper introduces a decomposition of the stated willingness to pay (WTP) for insurance into its fair price and three behavioral deviations from that price due to risk perception
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Revisiting the diagnosis of intertemporal preference reversals J. Risk Uncertain. (IF 3.977) Pub Date : 2022-03-10 Zhihua Li, Graham Loomes
Intertemporal preference reversals occur when individuals choose future option A over future option B in a direct choice between the two but place a higher ‘immediate cash’ value on B than on A. Tversky et al. (1990) reported strong evidence of such reversals, which they attributed mainly to valuation biases rather than intransitivity. We find similar levels of reversals, even after adjusting for considerable
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Do people have a bias for low deductible insurance? J. Risk Uncertain. (IF 3.977) Pub Date : 2022-02-18 Howard Kunreuther, Mark Pauly
This paper reports on a controlled web-based experiment designed to determine whether subjects have a predisposition toward low deductible (LD) rather than high deductible (HD) insurance plans when the LD plan is the default. We also are interested in whether individuals’ choice between LD and HD plans remains consistent if the default and premiums are changed. We find that only slightly more than
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Intransitivity in the small and in the large J. Risk Uncertain. (IF 3.977) Pub Date : 2022-01-26 Sushil Bikhchandani, Uzi Segal
We propose a regret-based model that allows the separation of attitudes towards transitivity on triples of random variables that are close to each other and attitudes towards transitivity on triples that are far apart. This enables a theoretical reinterpretation of evidence related to intransitive behavior in the laboratory. When viewed through this paper’s analysis, the experimental evidence need
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Intertemporal choice as a tradeoff between cumulative payoff and average delay J. Risk Uncertain. (IF 3.977) Pub Date : 2022-01-25 Pavlo R. Blavatskyy
Intertemporal choice involves outcomes that are received in different moments of time. This paper presents a new framework for analyzing intertemporal choice as a tradeoff between the cumulative payoff of a stream of intertemporal outcomes and its average delay (similar to the mean–variance approach in modelling risk preferences). Ceteris paribus, a decision maker prefers a stream of intertemporal
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How serious is the measurement-error problem in risk-aversion tasks? J. Risk Uncertain. (IF 3.977) Pub Date : 2022-01-24 Fabien Perez, Guillaume Hollard, Radu Vranceanu
This paper analyzes within-session test/retest data from four different tasks used to elicit risk attitudes. Maximum-likelihood and non-parametric estimations on 16 datasets reveal that, irrespective of the task, measurement error accounts for approximately 50% of the variance of the observed variable capturing risk attitudes. The consequences of this large noise element are evaluated by means of simulations
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An experimental study of charity hazard: The effect of risky and ambiguous government compensation on flood insurance demand J. Risk Uncertain. (IF 3.977) Pub Date : 2021-12-04 Peter John Robinson, W. J. Wouter Botzen, Fujin Zhou
This paper examines the problem of “charity hazard,” which is the crowding out of private insurance demand by government compensation. In the context of flood insurance and disaster financing, charity hazard is particularly worrisome given current trends of increasing flood risks as a result of climate change and more people choosing to locate in high-risk areas. We conduct an experimental analysis
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Correction to: Insurance decisions under nonperformance risk and ambiguity J. Risk Uncertain. (IF 3.977) Pub Date : 2021-12-01 Timo R. Lambregts,Paul van Bruggen,Han Bleichrodt
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Insurance decisions under nonperformance risk and ambiguity J. Risk Uncertain. (IF 3.977) Pub Date : 2021-11-26 Lambregts, Timo R., van Bruggen, Paul, Bleichrodt, Han
An important societal problem is that people underinsure against risks that are unlikely or occur in the far future, such as natural disasters and long-term care needs. One explanation is that uncertainty about the risk of non-reimbursement induces ambiguity averse and risk prudent decision makers to take out less insurance. We set up an insurance experiment to test this explanation. Consistent with