scholarly journals PRUDENT DISCOUNTING: EXPERIMENTAL EVIDENCE ON HIGHER‐ORDER TIME RISK PREFERENCES

2021 ◽  
Author(s):  
Sebastian Ebert
Keyword(s):  
Experimental Evidence ◽  
Risk Preferences ◽  
Higher Order

Higher Order Conditional Probabilities and Thermodynamics of Binary Molten Alloys

1997 ◽  
Vol 11 (02n03) ◽  
pp. 93-106 ◽  
Author(s):  
O. Akinlade
Keyword(s):  
Free Energy ◽  
Experimental Evidence ◽  
Cluster Model ◽  
Excess Free Energy ◽  
Higher Order ◽  
Thermodynamic Quantities ◽  
Equiatomic Composition ◽  
Conditional Probabilities ◽  
Energy Of Mixing ◽  
Free Energy Of Mixing

The recently introduced four atom cluster model is used to obtain higher order conditional probabilities that describe the atomic correlations in some molten binary alloys. Although the excess free energy of mixing for all the systems studied are almost symmetrical about the equiatomic composition, most other thermodynamic quantities are not and thus, the study enables us to explain the subtle differences in their physical characteristics required to describe the mechanism of the observed strong heterocoordination in Au–Zn or homocoordination in Cu–Ni within the same framework. More importantly, we obtain all calculated quantities for the whole concentration range thus complimenting experimental evidence.

Higher Order Risk Preferences in the Koszegi-Rabin

2021 ◽  
Author(s):  
Konstantinos Georgalos ◽  
Ivan Paya ◽  
David Alan Peel
Keyword(s):  
Risk Preferences ◽  
Higher Order

scholarly journals Robust inference in risk elicitation tasks

2020 ◽  
Author(s):  
Ola Andersson ◽  
Håkan J. Holm ◽  
Jean-Robert Tyran ◽  
Erik Wengström
Keyword(s):  
Experimental Evidence ◽  
Cognitive Ability ◽  
Big Five ◽  
Risk Preferences ◽  
Personal Characteristics ◽  
Personality Characteristics ◽  
Robust Inference ◽  
Balanced Design ◽  
Negative Relation ◽  
Economic Experiment

AbstractRecent experimental evidence suggests that noisy behavior correlates strongly with personal characteristics. Since decision noise leads to bias in most elicitation tasks, there is a risk of falsely interpreting noise-driven relationships as preference driven. This puts previous studies that found a negative relation between personality measures and risk aversion into perspective and in particular raises the question of how to achieve robust inference in this domain. This paper shows, by way of an economic experiment with subjects from all walks of life, that using structural estimation to model heterogeneity of noise in combination with a balanced design allows us to mitigate the bias problem. Our estimations show that cognitive ability is related to noisy behavior rather than risk preferences. We also find age and education to be strongly related to noise, but the personality characteristics obtained using the Big Five inventory are less related to noise and more robustly correlated to risk preferences.

scholarly journals Higher-order risk preferences in social settings

2017 ◽  
Vol 21 (2) ◽  
pp. 434-456 ◽  
Author(s):  
Timo Heinrich ◽  
Thomas Mayrhofer
Keyword(s):  
Risk Preferences ◽  
Higher Order ◽  
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