IDEAS home Printed from https://ideas.repec.org/p/ecj/ac2004/77.html
   My bibliography  Save this paper

An Experiment On Risky Choice Amongst Households

Author

Listed:
  • Alistair Munro
  • Ian Bateman

Abstract

A host of experiments have examined theories of risky choice using "individuals". However, many important economic decisions are taken within multi-adult "households". This paper reports on the first economic experiment designed to test theories of household choice. We use established couples and face them individually and jointly with decisions involving monetary payoffs. We find that joint choices typically are more risk averse than those made by individuals. Meanwhile, choices made by couples exhibit the same kinds of departures from expected utility theory (e.g. the common ratio and common consequence effects) as are regularly recorded with individuals. Copyright 2005 Royal Economic Society.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Alistair Munro & Ian Bateman, 2004. "An Experiment On Risky Choice Amongst Households," Royal Economic Society Annual Conference 2004 77, Royal Economic Society.
    • Handle: RePEc:ecj:ac2004:77
    as

    Download full text from publisher

    File URL: http://repec.org/res2004/MunroBateman.pdf
    File Function: full text
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecj:ac2004:77. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Christopher F. Baum (email available below). General contact details of provider: https://edirc.repec.org/data/resssea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.