Digging into Background Risk: Experiments with Farmers and Students
The article reports on a study that provides understanding of how risk preferences and other factors influence a farmer's decision to participate in a carbon offset market. It states incorporating background risk in a laboratory setting and drawing subjects from both a standard student population and a nonstandard farmer population helped to understand the decision making process. The study suggests that farmers are slightly more risk averse than students.
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Volume (Year): 94 (2012)
Issue (Month): 2 ()
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- Robert Gazzale & Julian Jamison & Alexander Karlan & Dean Karlan, 2013.
"Ambiguous Solicitation: Ambiguous Prescription,"
Western Economic Association International, vol. 51(1), pages 1002-1011, 01.
- Steffen Andersen & Glenn Harrison & Morten Lau & E. Rutström, 2006.
"Elicitation using multiple price list formats,"
Springer;Economic Science Association, vol. 9(4), pages 383-405, December.
- Glenn Harrison & John List & Charles Towe, 2004.
"Naturally occurring preferences and exogenous laboratory experiments: A case study of risk aversion,"
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- Glenn W Harrison & John A List & Charles Towe, 2007. "Naturally Occurring Preferences and Exogenous Laboratory Experiments: A Case Study of Risk Aversion," Econometrica, Econometric Society, vol. 75(2), pages 433-458, 03.
- Gollier, Christian & Pratt, John W, 1996. "Risk Vulnerability and the Tempering Effect of Background Risk," Econometrica, Econometric Society, vol. 64(5), pages 1109-1123, September.
- Steven Levitt & John List, 2007.
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- Steven D. Levitt & John A. List, 2007. "What Do Laboratory Experiments Measuring Social Preferences Reveal About the Real World?," Journal of Economic Perspectives, American Economic Association, vol. 21(2), pages 153-174, Spring.
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