ORCID: https://orcid.org/0000-0002-3599-8988 und Richter, Andreas ORCID: https://orcid.org/0000-0002-2588-4813
(2015):
The affection effect in an incentive compatible insurance demand experiment.
In: Economics Letters, Vol. 131: pp. 34-37
Abstract
Experimental studies have documented an affection effect in general decisions under risk as well as in insurance demand decisions. Most studies reporting this effect have not used salient and incentive compatible payments for the subjects. This might have skewed the results in favor of the hypotheses. In this note we revisit the affection effect in an insurance demand experiment with incentive compatible payments. We find the effect to be robust to the new experimental design further corroborating the established result of the affect heuristic in insurance decisions.
| Item Type: | Journal article |
|---|---|
| Faculties: | Munich School of Management > Institute for Risk Management and Insurance Munich School of Management > Professorship for Behavioral Risk Management and Insurance |
| Subjects: | 300 Social sciences > 330 Economics |
| ISSN: | 0165-1765 |
| Language: | English |
| Item ID: | 95014 |
| Date Deposited: | 10. Mar 2023 06:42 |
| Last Modified: | 03. Aug 2023 05:58 |
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