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Multiple switching behaviour in different display formats of multiple price lists

Author

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  • Golo-Friedrich Bauermeister
  • Oliver Mußhoff

Abstract

A common approach to elicit risk attitude is the multiple price list with a series of binary choices. However, a frequently observed problem when using multiple price lists is that participants switch more than once from the safer to the riskier option, thus exhibiting multiple switching behaviour. The present study analyses whether the visualization of different multiple price lists reduce multiple switching behaviour. Therefore, we conduct two types of multiple price lists in two different display formats. Participants are randomly assigned into a textual or a visual group and carry out both multiple price lists in the corresponding display format. Our results reveal that different types of multiple price lists lead to differences in the extent of multiple switching behaviour. Moreover, we show that the visualization of a multiple price list can be an instrument to greatly reduce multiple switching behaviour.

Suggested Citation

  • Golo-Friedrich Bauermeister & Oliver Mußhoff, 2019. "Multiple switching behaviour in different display formats of multiple price lists," Applied Economics Letters, Taylor & Francis Journals, vol. 26(1), pages 58-63, January.
    • Handle: RePEc:taf:apeclt:v:26:y:2019:i:1:p:58-63
    DOI: 10.1080/13504851.2018.1438577
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    Cited by:

    1. Michelle S. Segovia & Marco A. Palma & Jayson L. Lusk & Andreas C. Drichoutis, 2025. "Visual formats in risk preference elicitation: What catches the eye?," Journal of Risk and Uncertainty, Springer, vol. 70(3), pages 275-303, June.
    2. Luca Congiu, 2023. "Framing Effects in the Elicitation of Risk Aversion: An Experimental Study," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 9(1), pages 321-352, March.
    3. Marco Santorsola & Rocco Caferra & Andrea Morone, 2023. "The salience of informed risk: an experimental analysis," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 51(9), pages 21-35, June.

    More about this item

    JEL classification:

    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other

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