Skewness preferences: Evidence from online poker

IF 1 3区经济学 Q3 ECONOMICS

Games and Economic Behavior Pub Date : 2024-09-01 DOI:10.1016/j.geb.2024.08.007

引用次数: 0

Abstract

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.

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偏斜偏好：在线扑克的证据

我们在一组关于在线扑克游戏的大型观测面板数据（n=4,450,585）中测试了偏斜偏好。每个观测值都是指在安全选项和游戏输赢二元风险之间的选择。我们的设置提供了一个现实世界中的选择情境，其中有大量的激励因素，概率分布简单、透明，且为决策者所知。个人对偏度的偏好强烈而稳健，这与预期效用理论不一致。偏度的影响在有经验和不成功的玩家中最为明显，但在我们调查的所有子样本中仍然显著，这与方差的影响形成鲜明对比。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Games and Economic Behavior ECONOMICS-

CiteScore

1.90

自引率

9.10%

发文量

148

期刊介绍： Games and Economic Behavior facilitates cross-fertilization between theories and applications of game theoretic reasoning. It consistently attracts the best quality and most creative papers in interdisciplinary studies within the social, biological, and mathematical sciences. Most readers recognize it as the leading journal in game theory. Research Areas Include: • Game theory • Economics • Political science • Biology • Computer science • Mathematics • Psychology