Unité mixte de recherche 7235

Hunger Games II: Does Hunger Affect Risk Preferences?

Intervenant : Antoine Nebout (ALISS UR1303, INRA, University Paris-Saclay)

co-écrit avec Lydia Ashton (University of Wisconsin-Madison. Wisconsin Institute for Discovery) et Emmanuel Kemel (HEC Business School Paris & GREGHEC, CNRS)

Classic economic theory focuses on static and stable preferences. However, there is growing evidence that cognitive, emotional and visceral states (e.g. stress, hunger) can mediate behavioral biases and shape preferences (DellaVigna, 2009). In particular, Symmonds & al. (2010) and Levy & al. (2013) provide evidence that risk attitudes fluctuate with metabolic states. In this paper, we follow this stream of research and propose an experimental design with a specific hunger manipulation mechanism and an original risk attitude elicitation tool that allows parametric estimation of the components of Prospect Theory (PT) by using a convex budget line (CBL) allocation methodology (Choi & al., 2007).

Participants (N=107, Xlab Berkeley) were required to fast for at least three hours before the experiment and completed a high-protein shake tasting activity before/after (randomly assigned) the risk attitude elicitation questionnaire. Our results suggest a limited impact of hunger on the utility function and loss aversion parameters. However, we find that hungry (fasting) participants display significantly more risk aversion (curvature of the utility function) and probability distortion (inverse S shape of the probability weighting function) than the satiated participants. These results are consistent with and extend the existing empirical evidence on satiation and risk attitudes and feed the debate on the impact of hunger on economic decision

AGENDA

jeudi 1 décembre 2022

Doctorants

Nicolas de Roux

Capturing international influences in US monetary policy through a NLP approach

lundi 5 décembre 2022

Law, Institutions and Economics in Nanterre (LIEN)

Vincent Lefrère (Institut Mines Telecom)

En salle 614 et en distanciel

Privacy, Data and Competition: The Case of Apps For Young Children

mardi 6 décembre 2022

Recherche et Economie et Socioéconomie Politique, des Institutions et des Régulations (RESPIR)

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jeudi 8 décembre 2022

Lunch

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12h - 13h, salle 110

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lundi 12 décembre 2022

Law, Institutions and Economics in Nanterre (LIEN)

Clément Brébion (Copenhagen BS)

En salle 614 et en distanciel

Unemployment Insurance Eligibility and Employment Duration

mardi 13 décembre 2022

Développement Durable Environnement et Energie (DDEE)

Nicolas Astier (Paris School of Economics)

16h-17h

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Économies du monde musulman

Mohamed Touati Tliba (École Supérieure de Commerce, Alger)

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jeudi 15 décembre 2022

Doctorants

Pablo Aguilar Perez

TBA

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