The disposition effect has been described in the stock-investing context as a behavioral tendency of investors to hold on to losing stocks for too long and sell winning stocks too soon. In this paper it is examined whether the disposition effect can be confirmed also in the experimental student game of currency trading data set. The presence of the disposition effect leads to the conclusion that students, despite using demo money, were trading with real behavioral bias and various interesting findings concerning gender differences and size of the trade are discussed. The experimental data set was collected by Jochec during years 2009 to 2015, students were trading under standardized rules. In this paper the holding periods of profitable and unprofitable trades were tested and compared. Based on these calculations the general presence of the disposition effect in the data set was confirmed. Moreover there was confirmed that males and females have different tendency to succumb to this bias.

In the era of new technologies and globalization, individual or organizational ideas are different. New ideas and new practical models are developed for socio-economic purposes. The vision of entrepreneurs is changing because the first thoughts are centered on the idea of the individual and his behavior which can only be revealed by him, But companies have the ability to concretize innovation. The term entrepreneurship has become a little old fashioned, it can now be seen as so many things; entrepreneurial style activities. It seems to cover a wide range of activities, people and organizations, this new style of behavior called: Innopreneur.

Conducting research on the main functionalities of the human memory has long been an exciting problem for behavioral scientists. We focus on the segmented phonological episodic coding of word signals. To this end, we design a tool that is able to generate easily memorable names, slogans and lines by exploiting the fundamentals of Psycholinguistics, Mental Lexicon and Memory mechanisms. Finally, by testing our software tool on real users, we collect data which confirm that names and slogans bearing memorable characteristics are significantly easier to be recalled.

This paper establishes an empirical mapping between economic preferences and psychological personality traits. I use the Random Preference Model to estimate distributions of risk and time preferences complete with their individual-level stability and people’s propensity to make mistakes from unique experimental data. Using factor analysis to extract information on individuals’ ability and personality, I show that their link with preferences is much stronger than previously documented. I explain up to 50% of the variation in both average preferences and in individuals’ capacity to make consistent rational choices using four factors related to cognitive ability and three of the Big Five personality traits. Furthermore, the five structural parameters of my model largely dominate a wide range of demographic and socioeconomic variables when it comes to explaining observed individual choices between risky lotteries and time-separated payments.

This paper uses a laboratory experiment to investigate public goods contributions in groups that contain a “relatively privileged” player, and in which, additionally, each player may punish or reward other players. A privileged player is one who has higher incentives to contribute to the public good than other group members. Facing differential marginal returns, will the presence of a privileged player affect the efficacy of punishment or reward in privileged groups? The experiment shows that punishment are rendered ineffective in privileged groups while reward remain effective. The results can shed light on how to facilitate better cooperation and induce better outcomes in real-world groups facing differential returns.

Skewness preferences are closely linked to downside risk aversion and prudence. However, using a sound experimental setup and controlling for the first four statistical moments and potentially distortionary effects of loss aversion a preference for skewness cannot be confirmed. In contrast to theoretical predictions, the preference for skewness does not increase with an increasing skewness of the considered lottery. Furthermore, the preference for left-skewed distributions is stronger for lotteries in the loss domain. However, more rational decision making increases the predisposition of right-skewed choices.

In the paper, we present our research focused on behavioural interventions in a selected municipality in the Slovak Republic. Based on the behavioural literature and the policy experience with behavioural interventions in other countries, we focus on low cost small type of interventions, which are to address some of the challenges and problems, which this specific municipality experiences. After having carried out the field study at the partner municipality, we have identified the scope for the behavioural policy intervention. Currently, we have developed the experimental designs, which we will present at the conference to receive feedback needed for their finetuning before they are implemented.

Prospect Theory (PT) has been one of the most experimentally studied models for describing behavior under risk. This model also applies to decisions involving natural sources of ambiguity, the context in which probabilities are unknown, and that concerns the large majority of real-life decisions. Surprisingly however, the literature does not propose any elicitation of PT in such context. The paper reports a lab experiment allowing to estimate all the PT parameters in decisions involving a natural source of ambiguity: the participation rate in the 2019 European Parliament elections in the UK. This source is a genuine example of ambiguity inasmuch as is has no objective probability distribution, nor even past frequencies related to similar (Brexit) context. We also elicited PT parameters for risk, considered as a benchmark, in a within-subject design. The main features of CPT apply under ambiguity: attitudes follow the fourfold pattern, and evidence for loss aversion is captured. Additionally, the estimated subjective probabilities give plausible results. Comparing attitudes towards risk and attitudes towards ambiguity allows to assess ambiguity attitudes.