Skewness Preferences: Evicence from Online Poker
Zusammenfassung
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.
Schlüsselwörter
risk preferences, choice under risk, skewness, gambling
Zitieren als
Dertwinkel-Kalt, M., Kasinger, J., & Schneider, D. (2024). Skewness Preferences: Evicence from Online Poker. Games and Economic Behavior, 10977, 460–484.Details
Publikationstyp
Forschungsartikel (Zeitschrift)
Begutachtet
Ja
Publikationsstatus
Veröffentlicht
Jahr
2024
Fachzeitschrift
Games and Economic Behavior
Band
147
Erste Seite
460
Letzte Seite
484
Band
10977
Reihe
CESifo Working Papers
Sprache
Englisch
ISSN
2364-1428
DOI
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