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The SGG risk elicitation task:Implementation and results

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Author Info

  • Aurora García-Gallego

    ()
    (GLOBE-Economics Dpt., U. Granada & LEE-Ec. Dpt., U. Jaume I (Spain))

  • Nikolaos Georgantzís

    ()
    (GLOBE-Economics Dpt., Universidad de Granada (Spain) & BELIS, Murat Sertel Center for Advanced Economic Studies, Istanbul Bilgi University (Turkey))

  • Ainhoa Jaramillo-Gutiérrez

    ()
    (Economics & Finance Dpt., Universidad Castilla la Mancha (Spain))

  • Melanie Parravano

    ()
    (LEE-Economics Dpt., Universitat Jaume I (Spain))

Abstract

We propose a simple task for the elicitation of risk attitudes, initially used in Sabater-Grande and Georgantzís (2002) [SGG], capturing two dimensions of individual decision making: subjects’ average willingness to choose risky projects and their sensitivity towards variations in the return to risk. We report results from a large dataset obtained from the test and discuss regularities and the desirability of its bi-dimensionality when used to explain behaviour in other contexts.

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File URL: http://www.ugr.es/~teoriahe/RePEc/gra/wpaper/thepapers10_07.pdf
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Bibliographic Info

Paper provided by Department of Economic Theory and Economic History of the University of Granada. in its series ThE Papers with number 10/07.

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Length: 23 pages
Date of creation: 01 Sep 2010
Date of revision:
Handle: RePEc:gra:wpaper:10/07

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Keywords: Psychometric Tests; Decision-making; Lotteries; Risk aversion.;

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References

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  1. Sabater-Grande, Gerardo & Georgantzis, Nikolaos, 2002. "Accounting for risk aversion in repeated prisoners' dilemma games: an experimental test," Journal of Economic Behavior & Organization, Elsevier, vol. 48(1), pages 37-50, May.
  2. Antoni Bosch-Domènech & Joaquim Silvestre, 2006. "Risk aversion and embedding bias," Economics Working Papers 934, Department of Economics and Business, Universitat Pompeu Fabra.
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Cited by:
  1. Paolo Crosetto & Antonio Filippin, 2013. "A Theoretical and Experimental Appraisal of Five Risk Elicitation Methods," SOEPpapers on Multidisciplinary Panel Data Research 547, DIW Berlin, The German Socio-Economic Panel (SOEP).
  2. Crosetto, Paolo & Filippin, Antonio, 2012. "The "Bomb" Risk Elicitation Task," IZA Discussion Papers 6710, Institute for the Study of Labor (IZA).

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