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Eliciting Risk Attitudes in the Field: Surveys or Experimental Methods? An Empirical Comparison in Rural Niger

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  • Awa Sanou
  • Lenis Saweda O. Liverpool-Tasie
  • Robert Shupp

Abstract

We compare several risk preference elicitation methods – including incentivised, non-incentivised, and framed methods as well as a traditional Likert survey question – in a developing country and empirically test how well consequent measures of risk attitudes predict risk taking behaviour. We find that Likert scale and non-incentivised framed survey questions are not sufficient substitutes for costlier incentivised methods in rural Niger. Instead, the incentivised framed question works best while a simplified incentivised lottery question works almost as well. More risk and ambiguity averse farmers are less likely to adopt fertiliser microdosing indicating the importance of insurance and strategies to promote learning.

Suggested Citation

  • Awa Sanou & Lenis Saweda O. Liverpool-Tasie & Robert Shupp, 2018. "Eliciting Risk Attitudes in the Field: Surveys or Experimental Methods? An Empirical Comparison in Rural Niger," Journal of Development Studies, Taylor & Francis Journals, vol. 54(8), pages 1450-1470, August.
    • Handle: RePEc:taf:jdevst:v:54:y:2018:i:8:p:1450-1470
    DOI: 10.1080/00220388.2017.1404034
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    Cited by:

    1. Murong Yang & Laurence S. J. Roope & James Buchanan & Arthur E. Attema & Philip M. Clarke & A. Sarah Walker & Sarah Wordsworth, 2022. "Eliciting risk preferences that predict risky health behavior: A comparison of two approaches," Health Economics, John Wiley & Sons, Ltd., vol. 31(5), pages 836-858, May.
    2. François-Charles Wolff, 2020. "The intergenerational transmission of risk attitudes: Evidence from Burkina Faso," Review of Economics of the Household, Springer, vol. 18(1), pages 181-206, March.
    3. Samek, Anya & Gray, Andre & Datar, Ashlesha & Nicosia, Nancy, 2021. "Adolescent time and risk preferences: Measurement, determinants and field consequences," Journal of Economic Behavior & Organization, Elsevier, vol. 184(C), pages 460-488.
    4. Simone Cerroni, 2020. "Eliciting farmers’ subjective probabilities, risk, and uncertainty preferences using contextualized field experiments," Agricultural Economics, International Association of Agricultural Economists, vol. 51(5), pages 707-724, September.

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