AUTHOR: Brian Albert Monroe
ABSTRACT: Stochastic models are commonly used to estimate the risk preferences of experimental subjects when the subjects’ choices show apparent violations of Expected Utility Theory. While the descriptive properties of these models have been the subject of much investigation, the normative consequences of these models have… more »
ABSTRACT: Much of the game theory literature concerns mechanisms by which players can infer information about the utilities, beliefs, and strategies of other players based on actions within games and pre-play signals. When game theory is applied to strategic interactions among people, such analysis interprets them as trying to “mindread”.… more »
Forthcoming in G.W. Harrison and D. Ross (eds.), Models of Risk Preferences: Descriptive and Normative Challenges, (Bingley, UK: Emerald, Research in Experimental Economics, 2023).
ABSTRACT: Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account… more »
AUTHORS: Glenn W. Harrison, Nadja Kairies-Schwarz, and Johann Han
ABSTRACT: We investigate the effects of nonlinear deductible contracts on health utilization behavior by using a laboratory experiment in which we can control the likelihood of hitting the deductible. We also evaluate the effect of subjects receiving regular information updates on… more »
