Journal article
Behavior when the chips are down: An experimental study of wealth effects and exchange media
Abstract
In this experimental study, we implement a lottery-type game that is similar to the investment game of Imas (2016) and Gneezy and Potters (1997) to examine if the form of the exchange medium influences wealth effects and risk taking in general. We argue that reduced moneyness should lead to increased risk taking and decreased wealth effects (i.e., the break-even and house-money effects). We find that when the lottery task is conducted using …
Authors
Stivers A; Tsang M; Deaves R; Hoffer A
Journal
Journal of Behavioral and Experimental Finance, Vol. 27, ,
Publisher
Elsevier
Publication Date
September 2020
DOI
10.1016/j.jbef.2020.100323
ISSN
2214-6350