Risk and Rationality: Uncovering Heterogeneity in Probability Distortion

By Adrian Bruhin, Helga Fehr-Duda, Thomas Epper. 2009

471 citations recorded by the source corpus.

Subfields: Artificial Intelligence, General Decision Sciences, Management Science and Operations Research

View Paper: https://www.semanticscholar.org/paper/833eef3163b970bcf28c616d54c87ddd26f83d58

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Citations in the corpus

Psychological characteristics and household savings behavior: The importance of accounting for latent heterogeneity (2018, methodology): “In line with the general recommendations of Bruhin et al. (2010) as well as Cameron and Trivedi (2005), we also assess whether the selected two-class model has classes that are well-separated from each other as indicated by the entropy statistic proposed by Ramaswamy et al. (1993); are balanced in…”
Viewing the future through a warped lens: Why uncertainty generates hyperbolic discounting (2011, methodology): “3The risk data was also used in Bruhin, Fehr-Duda, and Epper (2010).”
Rationality on the rise: Why relative risk aversion increases with stake size (2010, methodology): “Details of the estimation procedure are discussed in Appendix C (see also Bruhin et al. 2007).”
Rankings and Risk-Taking in the Finance Industry (2018, unknown): “In the first task we measured risk-attitudes in a standard choice list setting (Bruhin et al., 2010; Abdellaoui et al., 2011).”
Measuring Loss Aversion under Ambiguity: A Method to Make Prospect Theory Completely Observable (2016, unknown): “Although most studies found convex utility, some studies also found linear or concave utility (for example, Bruhin et al. 2010).”
Tastes, Castes, and Culture: The Influence of Society on Preferences (2011, unknown): “Today, there is, for example, a relatively large literature on risk (e.g. Bruhin, Fehr-Duda, and Epper 2010; Starmer 2000), time (e.g. Frederick, Loewenstein, O’Donoghue 2002), and social preferences (e.g. Fehr and Schmidt 2003, Cooper and Kagel, forthcoming) that provides constraints on the types…”
Risk aversion relates to cognitive ability: Preferences or Noise? (2016, background): “In our analysis we do not aim to distinguish between risk avoidance stemming from concavity of the utility function and rank-dependent probability weighting (Quiggin 1982; Fehr-Duda and Epper 2012; Bruhin et al. 2010). One advantage of 50-50 gambles is that they are easy to understand. This is espec”