Distinguishing probability weighting from risk misperceptions in field data

American Economic Review

Volumn 103, Issue 3, 2013, Pages 580-585

  Barseghyan, Levon ^a   Molinari, Francesca ^a   O'Donoghue, Ted ^a   Teitelbaum, Joshua C ^b  

^a Department of Obstetrics Gynecology   (United States)

^b GEORGETOWN UNIVERSITY LAW CENTER   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84879069790     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: 10.1257/aer.103.3.580     Document Type: Conference Paper

References (11)

1. Barberis, Nicholas. 2013. "The Psychology of Tail Events: Progress and Challenges." American Economic Review 103 (3): http://dx.doi. org/10.1257aer.103.3.XX.
2. Barseghyan, Levon, Francesca Molinari, Ted O'Donoghue, and Joshua C. Teitelbaum. Forthcoming. "The Nature of Risk Preferences: Evidence from Insurance Choices." American Economic Review.
3. Cohen, Alma, and Liran Einav. 2007. "Estimating Risk Preferences from Deductible Choice." American Economic Review 97 (3): 745-88.
4. Fehr-Duda, Helga, and Thomas Epper. 2012. "Probability and Risk: Foundations and Economic Implications of Probability-Dependent Risk Preferences." Annual Review of Economics 4 (1): 567-93.
5. Jullien, Bruno, and Bernard Salanié. 2000. "Estimating Preferences under Risk: The Case of Racetrack Bettors." Journal of Political Economy 108 (3): 503-30.
6. Kahneman, Daniel, and Amos Tversky. 1979. "Prospect Theory: An Analysis of Decision under Risk." Econometrica 47 (2): 263-91.
7. Prelec, Drǎzen. 1998. "The Probability Weighting Function." Econometrica 66 (3): 497-527.
8. Quiggin, John. 1982. "A Theory of Anticipated Utility." Journal of Economic Behavior and Organization 3 (4): 323-43.
9. Snowberg, Erik, and Justin Wolfers. 2010. "Explaining the Favorite-Long Shot Bias: Is It Risk-Love or Misperceptions?" Journal of Political Economy 118 (4): 723-46.
10. Sydnor, Justin. 2010. "(Over)insuring Modest Risks." American Economic Journal: Applied Economics 2 (4): 177-99.
11. Tversky, Amos, and Daniel Kahneman. 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty." Journal of Risk and Uncertainty 5 (4): 297-323.