Temporal stability of risk preference measures
AbstractWe examine the temporal stability of risk preference measures obtained by different elicitation methods in a controlled laboratory experiment at two distinct times. Our results indicate remarkable temporal stability of risk measures at the aggregated level and temporal instability at the individual level. We control for the impact of, first, personality traits, and second, performance realized in a market game. When better market performers demonstrate more stable risk preferences, the impact of personality traits is marginal.
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Date of creation: 21 Dec 2012
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Time stability; Risk Preferences; Personality Theory; Experimental economics;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-01-07 (All new papers)
- NEP-CBE-2013-01-07 (Cognitive & Behavioural Economics)
- NEP-EVO-2013-01-07 (Evolutionary Economics)
- NEP-EXP-2013-01-07 (Experimental Economics)
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