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: | , , , |
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| Format: | Journal Article |
| Language: | en_US |
| Published: |
American Economic Association
2014
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10986/17930 |