Published in 2013 in Economic Theory, Volume 54, Issue 2.
AUTHORS: James C. Cox, Vjollca Sadiraj, Bodo Vogt, and Utteeyo Dasgupta
ABSTRACT. Some theories of decision under risk have been critiqued with varying-payoffs calibration arguments. Such concavity calibration has no implication either for nonlinear probability transformation or for theories with variable reference… more »
Published in 2012 in Oxford Economic Papers, Volume 64, Issue 2.
AUTHORS: Maribeth Coller, Glenn W. Harrison, and E. Elisabet Rutström
ABSTRACT. We show that observed choices in discounting experiments are consistent with roughly one-half of the subjects using exponential discounting and one-half using quasi-hyperbolic discounting. We characterize the latent data generating… more »
Published in 2015 as a book chapter in Handbook of Experimental Economic Methodology: published by Oxford University Press (New York), and edited by Guillaume R. Fréchette and Andrew Schotter.
AUTHORS: Glenn W. Harrison, Morten Lau, and E. Elisabet Rutström
ABSTRACT. Experiments are conducted with various purposes in mind including theory testing, mechanism… more »
Published in 2012 in Theory and Decision, Volume 73, Issue 1.
AUTHORS: Steffen Andersen, Glenn W. Harrison, Arne Risa Hole, Morten Lau, and E. Elisabet Rutström
ABSTRACT. We develop an extension of the familiar linear mixed logit model to allow for the direct estimation of parametric non-linear functions defined over structural parameters.… more »
Published in 2014 in Journal of Risk and Uncertainty, Volume 48, Issue 3.
AUTHORS: Steffen Andersen, John Fountain, Glenn W. Harrison, and E. Elisabet Rutström
ABSTRACT. Subjective probabilities play a central role in many economic decisions, and act as an immediate confound of inferences about behavior, unless controlled for. Several procedures to… more »
Published in 2010 in Journal of Economic Psychology, Volume 31, Issue 4.
AUTHORS: Steffen Andersen, Glenn W. Harrison, Morten Igel Lau, and E. Elisabet Rutström
ABSTRACT. We make the case that psychologists should make wider use of econometric methods for the estimation of structural models. These methods involve the development of maximum… more »
Published in 2011 in Applied Economics Letters, Volume 18, Issue 3.
AUTHORS: John Fountain and Glenn W. Harrison
ABSTRACT. We show that prediction markets cannot be relied on to always elicit any interesting statistic of aggregate beliefs. Formal derivations of the bets placed in prediction markets can be viewed as demands for… more »
AUTHORS: Glenn W. Harrison, E. Elisabet Rutström and Shabori Sen
ABSTRACT. We consider the effect of allowing for endogenous risk on behavior, in the simplest possible laboratory environment that allows us to identify effects on risk attitudes and subjective beliefs. We find that risk attitudes and subjective beliefs are indeed significantly affected by… more »
Published in 2011 in Southern Economic Journal, Volume 77, Issue 4.
AUTHORS: Sujoy Chakravarty, Glenn W. Harrison, Ernan E. Haruvy, and E. Elisabet Rutström
ABSTRACT. Decisions with uncertain outcomes are often made by one party in settings where another party bears the consequences. Whenever an individual is delegated to make decisions that… more »
AUTHORS: Glenn W. Harrison, Sebastian Moritz and Richard Pibernik
ABSTRACT. We study the risk attitudes of an important segment of the economy: managers. We conduct artefactual field experiments with 130 managers from 12 industrial companies. Our analysis is particularly careful to evaluate alternative models of decision-making under risk. In general, we find that… more »
