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http://hdl.handle.net/10419/25669
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| Title: | | A note on skewness seeking: an experimental analysis  |
| Authors: | | Brünner, Tobias Levínský, René Qiu, Jianying |
| Issue Date: | | 2007 |
| Series/Report no.: | | Jena economic research papers 2007,079 |
| Abstract: | | 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. |
| Subjects: | | Skewness Stochastic dominance Decision making under uncertainty |
| JEL: | | D81 C91 G11 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Jena Economic Research Papers, MPI für Ökonomik
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