The role of information search and its influence on risk preferences
July 24, 2017
“People overweight the likelihood of rare events”. This phrase distils the conclusions of most lab experiments studying risky behaviour. In these experiments subjects are asked to evaluate “lotteries” whose properties (i.e. the full list of outcomes and their associated likelihoods) are explicitly described. However, a criticism of this approach is that in everyday life, such …
What are the moral consequences of becoming unemployed?
April 13, 2016
Abigail Barr, Luis Miller and Paloma Ubeda investigate how becoming unemployed affects people’s reasoning in the paper ‘Moral Consequences of Becoming Unemployed‘. NIBS Co-Investigator, Dr Abigail Barr explains, “On the whole, people in employment or full-time education believe that people should be allowed to keep much of what they earn and that it is okay for …
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