Behavioral Biases and Firm Behavior : Evidence from Kenyan Retail Shops
Many subjects in lab experiments exhibit small-stakes risk aversion, consistent with loss aversion. Those with greater math skills are less likely to show small-stakes risk aversion. We argue that departures from expected utility maximization may help explain why many firms in developing countries l...
Main Authors: | , , , |
---|---|
Format: | Journal Article |
Language: | en_US |
Published: |
American Economic Association
2014
|
Subjects: | |
Online Access: | http://hdl.handle.net/10986/17930 |