Skewness preferences: evidence from online poker
- We investigate what statistical properties drive risk-taking 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 'insurance' option and a binary lottery 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 individuals. We find that individuals reveal a strong and robust preference for skewness. The effect of skewness is most pronounced among experienced and losing players but remains highly significant for winning players, in contrast to the variance effect.
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| Author: | Johannes KasingerORCiDGND, Markus Dertwinkel-KaltORCiDGND, Dmitrij Schneider |
|---|---|
| URN: | urn:nbn:de:hebis:30:3-646054 |
| URL: | https://ssrn.com/abstract=4142527 |
| DOI: | https://doi.org/10.2139/ssrn.4142527 |
| Parent Title (English): | SAFE working paper ; No. 351 |
| Series (Serial Number): | SAFE working paper (351) |
| Publisher: | SAFE |
| Place of publication: | Frankfurt am Main |
| Document Type: | Working Paper |
| Language: | English |
| Year of Completion: | 2022 |
| Year of first Publication: | 2022 |
| Publishing Institution: | Universitätsbibliothek Johann Christian Senckenberg |
| Release Date: | 2022/07/04 |
| Tag: | Choice under Risk; Online Poker; Risk Attitudes; Risk Preferences |
| Issue: | June 2022 |
| Page Number: | 53 |
| HeBIS-PPN: | 499050592 |
| Institutes: | Wirtschaftswissenschaften / Wirtschaftswissenschaften |
| Wissenschaftliche Zentren und koordinierte Programme / Sustainable Architecture for Finance in Europe (SAFE) | |
| Dewey Decimal Classification: | 3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft |
| Sammlungen: | Universitätspublikationen |
| Licence (German): |  Deutsches Urheberrecht |
