Stochastically more risk averse: A contextual theory of stochastic discrete choice under risk

By Nathaniel T. Wilcox. 2011

284 citations recorded by the source corpus.

Subfields: Economics and Econometrics, General Decision Sciences

View Paper: https://www.semanticscholar.org/paper/110dc641f2d4ea8c8e73e648fd765c1c0c05e722

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Citations in the corpus

Risk and Rationality: Uncovering Heterogeneity in Probability Distortion (2009, background): “If there is heterogeneity of a substantive kind, as the data suggest, basing predictions on a single preference theory is inappropriate and may lead to biased results (Wilcox (2006)).”
Digit ratios (2D:4D) as predictors of risky decision making for both sexes (2011, background): “Moreover, to the extent that there is noise in the decision process, either in errors made in choice or randomness in risk attitudes (Wilcox 2009), we can reduce some of this noise by measuring three decisions rather than only one.”
Risk aversion relates to cognitive ability: Preferences or Noise? (2016, methodology): “In Online Appendix C we also estimate other error models including an extended version of the Wilcox (2011) model that contains a tremble parameter. choices in expectation.9 Hence, B-types on average appear to be risk averse despite being risk neutral (2 + 3e > 2 for e > 0).”
Cognitive (ir)reflection: New experimental evidence☆ (2016, background): “However, they both apply the “contextual utility approach” (Wilcox, 2011) and therefore should be scale and task-neutral.”
Discounting behavior: A reconsideration☆ (2014, methodology): “and Guastello [2001] and Loewenstein, O’Donoghue and Rabin [2003]. We also assume that the same utility function that governs decisions over risky alternatives is the one that is used to evaluate time-discounted choices.”
Monotone Stochastic Choice Models: The Case of Risk and Time Preferences (2015, unknown): “Starting with the seminal papers by Wolpin (1984) and Rust (1987), dynamic discrete choice models have been used to tackle issues such as fertility (Ahn, 1995), health (Gilleskie, 1998; Crawford and Shum, 2005), labor (Berkovec and Stern, 1991; Rust and Phelan, 1997), or political economy…”