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Is households’ risk attitude robust to different experimental payoffs?

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  • Solomon Zena Walelign
  • Martin Reinhardt Nielsen
  • Xi Jiao
  • Jette Bredahl Jacobsen

Abstract

We compared risk attitudes among rural people in Tanzania and Kenya using an experimental design where payoffs were defined and quantified in maize and milk production. About 42% of the sample revealed different risk attitude between the two payoff types. The difference was mainly explained by household livelihood strategy, geographical location and ethnicity. Hence, appropriate pay-off metrics differ across contexts and different metrics may provide noncomparable results that does not reflect intrinsic risk attitude.

Suggested Citation

  • Solomon Zena Walelign & Martin Reinhardt Nielsen & Xi Jiao & Jette Bredahl Jacobsen, 2019. "Is households’ risk attitude robust to different experimental payoffs?," Applied Economics Letters, Taylor & Francis Journals, vol. 26(8), pages 703-706, May.
    • Handle: RePEc:taf:apeclt:v:26:y:2019:i:8:p:703-706
    DOI: 10.1080/13504851.2018.1489496
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