Skewness preferences: Evidence from online poker

被引：0

作者：

Dertwinkel-Kalt, Markus ^{[1
,2
]}

Kasinger, Johannes ^{[3
,4
]}

Schneider, Dmitrij ^{[5
]}

机构：

[1] Univ Munster, Munster, Germany

[2] Max Planck Inst Res Collect Goods, Berlin, Germany

[3] Tilburg Sch Econ & Management, Tilburg, Netherlands

[4] Leibniz Inst Financial Res SAFE, Leibniz, Germany

[5] Heinrich Heine Univ, Dusseldorf Inst Competit Econ DICE, Dusseldorf, Germany

来源：

GAMES AND ECONOMIC BEHAVIOR | 2024年 / 147卷

关键词：

Risk preferences; Choice under risk; Skewness; Gambling; RISK PREFERENCES; DECISION-MAKING; CROSS-SECTION; REGRET; CHOICE; DISAPPOINTMENT; COMPENSATION; SENSITIVITY; EXPERIENCE; PORTFOLIO;

D O I：

10.1016/j.geb.2024.08.007

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We test for skewness preferences in a large set of observational panel data on online poker games (n=4,450,585). Each observation refers to a choice between a safe option and a binary risk of winning or losing the game. Our setting offers a real-world choice situation with substantial incentives where probability distributions are simple, transparent, and known to the decision- makers. Individuals reveal a strong and robust preference for skewness, which is inconsistent with expected utility theory. The effect of skewness is most pronounced among experienced and unsuccessful players but remains significant in all subsamples that we investigate, in contrast to the effect of variance.

引用

页码：460 / 484

页数：25

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