Estimating risk attitudes in conventional and artefactual lab experiments
AbstractWe elicit and compare risk preferences from student subjects and subjects drawn from the general population, using the multiple price list method devised by Holt and and Laury (2002). We find evidence suggesting that students have lower relative risk aversion than others.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 28438.
Date of creation: Jan 2011
Date of revision:
Risk aversion; CRRA; expo-power; multiple price list;
Other versions of this item:
- Drichoutis Andreas & Phoebe Koundouri, . "Estimating risk attitudes in conventional and artefactual lab experiments," DEOS Working Papers 1114, Athens University of Economics and Business.
- Andreas Drichoutis & Phoebe Koundouri, . "Estimating risk attitudes in conventional and artefactual lab experiments," DEOS Working Papers 1115, Athens University of Economics and Business.
- Andreas Drichoutis & Phoebe Koundouri, . "Estimating risk attitudes in conventional and artefactual lab experiments," DEOS Working Papers 1110, Athens University of Economics and Business.
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-05 (All new papers)
- NEP-CBE-2011-02-05 (Cognitive & Behavioural Economics)
- NEP-EXP-2011-02-05 (Experimental Economics)
- NEP-UPT-2011-02-05 (Utility Models & Prospect Theory)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Phoebe Koundouri & Céline Nauges & Vangelis Tzouvelekas, 2006.
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- Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, vol. 92(5), pages 1644-1655, December.
- Steffen Andersen & Glenn W. Harrison & Morten Lau & Elisabet E. Rutstroem, 2011. "Discounting Behavior: A Reconsideration," Working Papers 2011_01, Durham University Business School.
- Barsky, Robert B, et al, 1997. "Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement Study," The Quarterly Journal of Economics, MIT Press, vol. 112(2), pages 537-79, May.
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