A note on skewness seeking: an experimental analysis

Arbeitspapier

In this paper we experimentally test skewness seeking at the individual level. Several prospects that can be ordered with respect to the third-degree stochastic dominance (3SD) criterion are ranked by the participants of the experiment. We ¯nd that the skewness of a distribution has a signi¯cant impact on the decisions. Yet, while skewness has an impact, its direction di®ers substantially across subjects: 39% of our subjects act in accordance with skewness seeking and 10% seem to avoid skewness. On the level of individual decisions we ¯nd that the variance of the prospects and subjects' experience increase the probability of their choosing the lottery with greater skewness.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Jena Economic Research Papers ; No. 2007,079

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Criteria for Decision-Making under Risk and Uncertainty ; Design of Experiments: Laboratory, Individual ; Portfolio Choice; Investment Decisions
• Thema: Skewness ; Stochastic dominance ; Decision making under uncertainty ; Entscheidung bei Unsicherheit ; Statistische Verteilung ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Brünner, Tobias ; Levínský, René ; Qiu, Jianying
• Ereignis: Veröffentlichung
• (wer): Friedrich Schiller University Jena and Max Planck Institute of Economics
• (wo): Jena
• (wann): 2007

Weitere Informationen

• Handle: http://hdl.handle.net/10419/25669
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ