Models of Risk Preferences

Glenn W. Harrison is University Distinguished Professor, C.V. Starr Chair of Risk Management & Insurance and Director of the Center for the Economic Analysis of Risk, Maurice R. Greenberg School of Risk Science, J. Mack Robinson College of Business, Georgia State University. His current research spans risk management & perception, experimental economics, behavioural econometrics, behavioural welfare economics and development economics.Don Ross is Professor in the School of Society, Politics, and Ethics at University College Cork, Professor in the School of Economics at the University of Cape Town, and Program Director for Methodology at the Centre for the Economic Analysis of Risk at Georgia State University. His current research focuses on experimental studies and theoretical modeling of risk and time preferences in humans and other animals, gambling disorders and policy, economic methodology, the economics of road transport networks in Africa, and the metaphysical implications of science.

• Introduction; Glenn W. Harrison and Don RossChapter 1. Behavioral Welfare Economics and the Quantitative Intentional Stance; Glenn W. Harrison and Don RossChapter 2. Unusual Estimates of Probability Weighting Functions; Nathaniel T. Wilcox Chapter 3. Cumulative Prospect Theory in the Laboratory: A Reconsideration; Glenn W. Harrison and J. Todd Swarthout Chapter 4. Temporal Stability of Cumulative Prospect Theory; Morten I. Lau, Hong Il Yoo, and Hongming Zhao Chapter 5. The Welfare Consequences of Individual-Level Risk Preference Estimation; Brian Albert Monroe