The classical expected utility model of decision under risk (von NeumannMorgenstern, 1944) has been criticized from an experimental point of view (Allais’ paradox) as well as for its restrictive lack of explanatory power. The RankDependent Expected Utility model (RDU) model (Quiggin, 1982) attempts to answer some of these criticisms. The decision maker is characterized by two functions: a utili...

Opening Paragraph: Where do risk preferences come from? How do we decide if it is safe to eat unpasteurized cheese, whether to take up paragliding or mini-golf as a new hobby, whether to save in government bonds or place our money in a new technology hedge fund? Asking about the origin of risk preference in this general form requires two presuppositions, both of which may be challenged. The fir...

This paper takes the Anscombe-Aumann framework with horse and roulette lotteries, and applies the Savage axioms to the horse lotteries and the von Neumann-Morgenstern independence axiom to the roulette lotteries. The resulting representation of preferences yields a subjective probability measure over states and two utility functions, one governing risk attitudes and one governing ambiguity atti...

The media plays a vital role in informing the public about new developments in cancer research and influencing cancer policy. This is no easy task, in view of the myriad of trials and wonder drugs that purport to be the 'magic bullet'. However, misrepresentation can have profound consequences. In this qualitative study, we sought to understand the interaction between the media and cancer throug...

This experience report describes using a validated survey instrument to measure changes in student attitudes toward computing across a CS1 course. The choice of the survey instrument is described, with links to online resources for several existing instruments. The setup of a within-subjects design using preand post-tests at each end of a semester-long programming course allows changes in attit...

In recent years, the issue of infringement in the software industry has gained international attention as the demand for software continues to grow. The growing presence of unauthorised reproduction of copyrighted products inhibits full potential growth and discourages creative activity. This study analyses the extent of software copyright infringement among college students and attitudes of th...

Using data from a field experiment conducted in seventy Colombian municipalities, we investigate who pools risk with whom when risk pooling arrangements are not formally enforced. We explore the roles played by risk attitudes and network connections both theoretically and empirically. We find that pairs of participants who share a bond of friendship or kinship are more likely to (1) join the sa...

This paper uses data from the popular television game-show, "Deal or No Deal?", to analyse the way individuals make choices under risk. In a unique approach to the problem, I present a formal game-theoretical model of the show in which both the contestant and the banker are modelled as strategic players. I use standard techniques to form hypotheses of how rational expected utility-maximisers wo...

Male and female choices differ in many economic situations, e.g., on the labor market. This paper considers whether such differences are driven by different attitudes towards competition. In our experiment subjects choose between a tournament and a piecerate pay scheme before performing a real task. Men choose the tournament significantly more often than women. Women are mainly influenced by th...