Risky Choice in the Limelight
通过两个实验发现，人们在公开场合比匿名时更厌恶风险，但风险选择路径依赖相似；前景理论模型比期望效用理论更能解释行为，且模糊厌恶受公开性影响。
This paper examines how risk behavior in the limelight differs from that in anonymity. In two separate experiments we find that subjects are more risk averse in the limelight. However, risky choices are similarly path dependent in the different treatments. Under both limelight and anonymous laboratory conditions, a simple prospect theory model with a path-dependent reference point provides a better explanation for subjects’ behavior than a flexible specification of expected utility theory. Additionally, our findings suggest that ambiguity aversion depends on being in the limelight, that passive experience has little effect on risk taking, and that reference points are determined by imperfectly updated expectations.