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Within-Subject Intra- and Inter-Method Consistency of Two Experimental Risk Attitude Elicitation Methods
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Uwe Dulleck
Veröffentlicht/Copyright:
30. November 2019
Abstract
We compare the consistency of choices in two methods used to elicit risk preferences on an aggregate as well as on an individual level. We ask subjects to choose twice from a list of nine decisions between two lotteries, as introduced by Holt and Laury (2002, 2005) alternating with nine decisions using the budget approach introduced by Andreoni and Harbaugh (2009). We find that, while on an aggregate (subject pool) level the results are consistent, on an individual (within-subject) level, behaviour is far from consistent. Within each method as well as across methods we observe low (simple and rank) correlations.
Keywords: Risk preferences; elicitation methods
Published Online: 2019-11-30
Published in Print: 2015-02-01
© 2019 by Walter de Gruyter Berlin/Boston
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Artikel in diesem Heft
- Looks Good, You’re Hired? Evidence from Extra-Parliamentary Activities of German Parliamentarians
- Should Welfare Administration be Centralized or Decentralized? Evidence from a Policy Experiment
- Do Long-Term Unemployed Workers Benefit from Targeted Wage Subsidies?
- Are We Spending Too Many Years in School? Causal Evidence of the Impact of Shortening Secondary School Duration
- Price Convergence and Information Efficiency in German Natural Gas Markets
- Within-Subject Intra- and Inter-Method Consistency of Two Experimental Risk Attitude Elicitation Methods
- Call for Papers: Special Issue of the German Economic Review in Honor of Reinhard Selten’s 85th birthday. Special Issue Editors
