Manski [2004] analyzes the relationship between the distribution of traders’ beliefs and the equilibrium price in a prediction market with risk neutral traders. He finds that there can be a substantial difference between the mean belief that an event will occur, and the price of an asset that pays one dollar if the event occurs and otherwise pays nothing. This result is puzzling, since these ma...

Risk tolerance is widely used in the personal financial planning referring to an investor’s attitude towards risk. It is the amount of uncertainty or investment return volatility that an investor is willing to accept when making a financial decision. Risk tolerance scores are used (1) to examine the relationship between demographic characteristics and risk tolerance, and (2) to investigate the ...

the disposal of nuclear wastes is one of the most controversial issues faced by authorities in japan. in this regard, a survey was conducted among 172 university students to analyze the attitude towards the sitting of a nuclear waste repository in the country. the study focused on a number of variables that influenced the perception of risks before the 2011 tohoku earthquake and tsunami. result...

This paper documents the relation between risk attitude and college attendance. A measure of the degree of risk aversion is constructed based upon the National Longitudinal Survey for Youth. Statistics and estimation results suggest that risk aversion may have a negative impact on the decision to attend college. Several potential endogeneity problems are discussed. (

The present research addresses whether narcissists are more overconfident than others and whether this overconfidence leads to deficits in decision making. In Study 1, narcissism predicted overconfidence. This was attributable to narcissists’ greater confidence despite no greater accuracy. In Study 2, participants were offered fair bets on their answers. Narcissists lost significantly more poin...

objective: non-compliance is one of the major problems in treatment of patients with schizophrenia. it is also the most significant risk factor for relapse and re-hospitalization. previous studies showed that 25-70% of all patients with schizophrenia have negative attitudes to drugs. therefore, the present study aimed to identify the relationship between drug attitude and discharge and the rate...

Although significant advances in risk assessment research and practice have been made in recent years, there has not been any analysis in the professional literature regarding how and whether the emerging practice recommendations apply in Tarasoff-type situations. We suggest that, when faced with a Tarasoff-type situation, the appraisal of risk should be guided by a method that is primarily fac...

This study focuses on the question whether risk aversion or beliefs of players explain the strategic choices in 2x2 coordination games. In a laboratory experiment we elicit the risk attitudes by using lottery choices. Furthermore, using a quadratic scoring rule, subjects’ beliefs about the choice of the opponent are elicited directly. Our data show that participants’ behavior is not explained b...