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A failed attempt to explain within subject variation in risk taking behavior using domain specific risk attitudes

  • Deck, Cary
  • Lee, Jungmin
  • Reyes, Javier A.
  • Rosen, Christopher C.

Previous research has found considerable variation in risk taking behavior within individuals across tasks. In this paper, we develop a hypothesis derived from the psychology literature that such apparently inconsistent behavior can be explained by a subject's domain specific risk attitudes. To test our hypothesis, we conducted a laboratory study using multiple paid risk elicitation tasks and a risk attitude survey. Consistent with previous research, our results indicated considerable within subject variation in behavior across tasks. However, we found little support for the hypothesis that this variation can be explained by domain specific risk attitudes.

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Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.

Volume (Year): 87 (2013)
Issue (Month): C ()
Pages: 1-24

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Handle: RePEc:eee:jeborg:v:87:y:2013:i:c:p:1-24
Contact details of provider: Web page: http://www.elsevier.com/locate/jebo

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