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Can self-assessed risk attitudes predict behavior under risk? Evidence from a field study in China

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  • He, Pan

Abstract

This paper examines whether the self-assessed risk attitude predicts individual choice under risk in a field study on a sample of more than 200 Chinese farmers. Farmers’ self-assessed risk attitudes are elicited by the widely used German socio-economic panel (SOEP) general risk question. Individual choice in the Bomb Risk Elicitation Task (BRET) is tested. Results show that the self-assessed willingness to take risks is not significantly correlated with the actual choice in the BRET risk experiment.

Suggested Citation

  • He, Pan, 2018. "Can self-assessed risk attitudes predict behavior under risk? Evidence from a field study in China," Economics Letters, Elsevier, vol. 172(C), pages 107-109.
  • Handle: RePEc:eee:ecolet:v:172:y:2018:i:c:p:107-109
    DOI: 10.1016/j.econlet.2018.08.043
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    References listed on IDEAS

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    1. Catherine C. Eckel & Philip J. Grossman, 2002. "Sex Differences and Statistical Stereotyping in Attitudes Toward Financial Risk," Monash Economics Working Papers archive-03, Monash University, Department of Economics.
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    3. Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde & Jürgen Schupp & Gert G. Wagner, 2011. "Individual Risk Attitudes: Measurement, Determinants, And Behavioral Consequences," Journal of the European Economic Association, European Economic Association, vol. 9(3), pages 522-550, June.
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    More about this item

    Keywords

    Risk preferences; Elicitation measure; Field study;

    JEL classification:

    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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