Previous work has shown that preferences are not always stable across time, but surprisingly little is known about the reasons for this instability. I examine whether variation in people's emotions over time predicts changes risk attitudes. Using a large-panel dataset, identify happiness, anger, and fear as significant correlates of within-person Robustness checks indicate limited role alternat...

Kőszegi and Rabin (forthcoming) develop a model building from prospect theory that a) combines the reference-dependent “gain-loss utility” with standard “consumption utility,” b) bases the reference point on beliefs about outcomes rather than on the status quo, and, to incorporate probabilistic beliefs, c) allows for stochastic reference points. In this paper we develop an extension of that mod...

Daniel Kahneman and Amos Tversky’s (1979) prospect theory, and the literature building from it, provide theories of risk attitudes based on a few regularities. Most importantly, evaluation of an outcome is influenced by how it compares to a reference point, with people exhibiting both a significantly greater aversion to losses than appreciation of gains, and a diminishing sensitivity to changes...

Concepts of constant absolute risk aversion and constant relative risk aversion have proved useful in the analysis of choice under uncertainty, but are quite restrictive, particularly when they are imposed jointly. A generalization of constant risk aversion, referred to as invariant risk aversion is developed. Invariant risk aversion is closely related to the possibility of representing prefere...

We examine risk attitudes under regret theory and derive analytical expressions for two components—the resolution and regret premiums—of the risk premium under regret theory. We posit that regret-averse decision makers are risk seeking (resp., risk averse) for low (resp., high) probabilities of gains and that feedback concerning the forgone option reinforces risk attitudes. We test these hypoth...

Global changes in eating attitudes were examined prospectively across pregnancy and 4 months postpartum in a sample of 90 women. In addition, specific changes in dieting behavior and weight/shape satisfaction were assessed at 4 months postpartum for concurrent and retrospective time points. Measures included the Eating Attitudes Test (EAT) and weight/shape satisfaction in pregnancy and at 4 mon...

Purpose: The knowledge, attitudes and practice among inhabitants of Mto wa Mbu Division was examined to provide objective information on sparganosis infection. Hence, the study was carried out. Methods: The study was conducted among the inhabitants of Mto wa Mbu Division, Monduli District, Tanzania from January to April 2012. Inhabitants were informed about the objective of the study and invite...