The debate between stick (penalties) and carrot (rewards) strategies has been widely
carried out in various academic realms, including transportation. This paper seeks to …

Higher-order risk preferences are important determinants of economic behavior. We apply
insights from behavioral economics: we measure higher-order risk preferences for pure …

In this paper, we analyse higher-order risky choices by the representative cumulative
prospect theory (CPT) decision maker from three alternative reference points. These are the …

The risk attitudes of market participants have an important influence on market behavior. We
measure risk aversion, prudence and temperance in a sample of 173 financial experts …

This paper examines the predictions of expectations-based reference-dependent models for
risk-apportionment tasks that elicit higher-order risk attitudes. We consider some of the most …

South African subsistence livestock farmers rely heavily on traditional mitigation and coping
mechanisms to deal with the effects of drought. However, these methods have proven …

In this paper I present the first experimental measurement of prudence with a subject pool
that is active in a high-risk occupation. Using a lab-in-the-field experiment I measure the …

In fields on which decisions need to be taken including health, as we are seeing nowadays
in the COVID-19 crisis, decision-makers face multiple criteria and results with a random …

It is now well established that higher-order risk preferences play a crucial role in determining
the risky choices of decision makers in a wide range of important areas such as economics …

In the age of Business 4.0, cryptocurrencies have emerged as a popular alternative
investment vehicle. Despite significant risks, they offer attractive perks. Poor decision …