The relationship between risk attitudes and heuristics in search tasks : a laboratory experiment
- Publikationstyp:
- Zeitschriftenaufsatz
- Metadaten:
-
- Autoren
- J Winter
- Daniel Schunk
- Sammlungen
- metadata
- ISSN
- 0167-2681
- Zeitschrift
- Journal of economic behavior and organization
- Schlüsselwörter
- 330 Wirtschaft
- 330 Economics
- Sprache
- eng
- Paginierung
- Seiten: 347 - 360
- Datum der Veröffentlichung
- 2009
- Datum der Datenerfassung
- 2020
- Datum, an dem der Datensatz öffentlich gemacht wurde
- 2020
- Zugang
- Public
- Titel
- The relationship between risk attitudes and heuristics in search tasks : a laboratory experiment
- Ausgabe der Zeitschrift
- 71
Datenquelle: METADATA.UB
- Andere Metadatenquellen:
-
- Autoren
- Daniel Schunk
- Joachim Winter
- Autoren-URL
- https://www.webofscience.com/api/gateway?GWVersion=2&SrcApp=fis-test-1&SrcAuth=WosAPI&KeyUT=WOS:000267999900020&DestLinkType=FullRecord&DestApp=WOS_CPL
- DOI
- 10.1016/j.jebo.2008.12.010
- eISSN
- 1879-1751
- Externe Identifier
- Clarivate Analytics Document Solution ID: 470SJ
- ISSN
- 0167-2681
- Ausgabe der Veröffentlichung
- 2
- Zeitschrift
- JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION
- Schlüsselwörter
- Search
- Heuristics
- Utility function elicitation
- Risk attitudes
- Prospect theory
- Paginierung
- 347 - 360
- Datum der Veröffentlichung
- 2009
- Status
- Published
- Titel
- The relationship between risk attitudes and heuristics in search tasks: A laboratory experiment
- Sub types
- Article
- Ausgabe der Zeitschrift
- 71
Datenquelle: Web of Science (Lite)
- Autoren
- Daniel Schunk
- Joachim Winter
- DOI
- 10.1016/j.jebo.2008.12.010
- ISSN
- 0167-2681
- Ausgabe der Veröffentlichung
- 2
- Zeitschrift
- Journal of Economic Behavior & Organization
- Sprache
- en
- Paginierung
- 347 - 360
- Datum der Veröffentlichung
- 2009
- Status
- Published
- Herausgeber
- Elsevier BV
- Herausgeber URL
- http://dx.doi.org/10.1016/j.jebo.2008.12.010
- Datum der Datenerfassung
- 2023
- Titel
- The relationship between risk attitudes and heuristics in search tasks: A laboratory experiment
- Ausgabe der Zeitschrift
- 71
Datenquelle: Crossref
- Abstract
- The existing evidence from laboratory experiments suggests that relatively simple heuristics describe observed search behavior better than the optimal stopping rule derived under risk neutrality. Such behavior could be generated by two entirely different classes of decision rules: (i) rules that are optimal conditional on utility functions that depart from risk neutrality or (ii) heuristics that derive from limited cognitive processing capacities and satisfycing. In this paper, we develop and test search models that depart from the standard assumption of risk neutrality in order to distinguish these two possibilities. In our experiment, we present subjects not only with a standard search task, but also with a series of lottery tasks that serve to elicit the shape of their utility functions. We do not find a relationship between behavior in the search task and measures of risk aversion. Our data suggest, however, that loss aversion is important for explaining search behavior.
- Addresses
- University of Zürich Institute for Empirical Research in Economics
- Mannheim Research Institute for the Economics of Aging (MEA)
- Autoren
- Daniel Schunk
- Joachim Winter
- Notes
- Financial support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged.
- Artikelnummer
- 04-23
- Datum der Veröffentlichung
- 2004
- Titel
- The Relationship Between Risk Attitudes and Heuristics in Search Tasks: A Laboratory Experiment
Datenquelle: RePEc
- Beziehungen:
- Eigentum von