Individual Decision-Making under Uncertainty--An Experimental Panel Data Study

Preliminary Version Decision-making under uncertainty attracts the research interests of many experimental economists. With a good experiment laboratory, it is now quite easy to gather enough data to run estimations for each single individual subject. However, for individual estimations to be meaningful, we need to be assured that, at individual level, the behavior patterns have certain degree of stability. This research tries to tackle this question with panel experimental data. We designed lottery experiment with monetary rewards and recruited 27 undergraduat