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Morten I. Lau [3]Morten Igel Lau [1]
  1. Small Stakes Risk Aversion in the Laboratory: A Reconsideration.Glenn W. Harrison, Morten I. Lau, Don Ross & J. Todd Swarthout - unknown
    Evidence of risk aversion in laboratory settings over small stakes leads to a priori implausible levels of risk aversion over large stakes under certain assumptions. One core assumption in statements of this calibration puzzle is that small-stakes risk aversion is observed over all levels of wealth, or over a â sufficiently largeâ range of wealth. Although this assumption is viewed as self-evident from the vast experimental literature showing risk aversion over laboratory stakes, it actually requires that lab wealth be varied (...)
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  2.  40
    Risk and Time Preferences of Entrepreneurs: Evidence From a Danish Field Experiment.Steffen Andersen, Amalia Di Girolamo, Glenn W. Harrison & Morten I. Lau - 2014 - Theory and Decision 77 (3):341-357.
    To understand how small business entrepreneurs respond to government policy one has to know their risk and time preferences. Are they risk averse, or have high discount rates, such that they are hard to motivate? We have conducted a set of field experiments in Denmark that will allow a direct characterization of small business entrepreneurs in terms of these traits. We build on experimental tasks that are well established in the literature. The results do not suggest that small business entrepreneurs (...)
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  3.  39
    Introduction to FUR Special Issue.Glenn W. Harrison, Morten I. Lau & Daniel Read - 2012 - Theory and Decision 73 (1):1-2.
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  4.  45
    Is the Evidence for Hyperbolic Discounting in Humans Just an Experimental Artefact?Glenn W. Harrison & Morten Igel Lau - 2005 - Behavioral and Brain Sciences 28 (5):657-657.
    We question the behavioral premise underlying Ainslie's claims about hyperbolic discounting theory. The alleged evidence for humans can be easily explained as an artefact of experimental procedures that do not control for the credibility of payment over different time horizons. In appropriately controlled and financially motivated settings, human behavior is consistent with conventional exponential preferences.
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