Lottery- and survey-based risk attitudes linked through a multichoice elicitation task
| Autor: | Giuseppe Attanasi, Daria Vigani, Nikolaos Georgantzis, Valentina Rotondi |
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| Přispěvatelé: | Lille économie management - UMR 9221 (LEM), Université d'Artois (UA)-Université catholique de Lille (UCL)-Université de Lille-Centre National de la Recherche Scientifique (CNRS), Burgundy School of Business (BSB) - Ecole Supérieure de Commerce de Dijon Bourgogne (ESC) (BSB), University of Reading (UOR), Politecnico di Milano [Milan] (POLIMI), Università cattolica del Sacro Cuore [Milano] (Unicatt) |
| Jazyk: | angličtina |
| Rok vydání: | 2018 |
| Předmět: |
Lottery choices
risk aversion elicitation methods lottery choices General Decision Sciences Survey question Settore SECS-P/01 - ECONOMIA POLITICA Task (project management) Correlation Elicitation methods Risk aversion Lottery Arts and Humanities (miscellaneous) 0502 economics and business ELICITATION METHODS LOTTERY CHOICES RISK AVERSION Developmental and Educational Psychology Economics 050207 economics Applied Psychology ComputingMilieux_MISCELLANEOUS 050205 econometrics Actuarial science [SHS.STAT]Humanities and Social Sciences/Methods and statistics 05 social sciences General Social Sciences [SHS.ECO]Humanities and Social Sciences/Economics and Finance Computer Science Applications Test (assessment) Incentive General Economics Econometrics and Finance |
| Zdroj: | Theory and Decision Theory and Decision, 2018, 84 (3), pp.341-372. ⟨10.1007/s11238-017-9613-0⟩ Theory and Decision, Springer Verlag, 2018, 84 (3), pp.341-372. ⟨10.1007/s11238-017-9613-0⟩ |
| ISSN: | 0040-5833 1573-7187 |
| Popis: | We analyze the results from three different risk attitude elicitation methods. First, the broadly used test by Holt and Laury (2002), HL, second, the lottery-panel task by Sabater-Grande and Georgantzis (2002), SG, and third, responses to a survey question on self-assessment of general attitude towards risk (Dohmen et al. 2011). The first and the second task are implemented with real monetary incentives, while the third concerns all domains in life in general. Like in previous studies, the correlation of decisions across tasks is low and usually statistically non-significant. However, when we consider only subjects whose behavior across the panels of the SG task is compatible with constant relative risk aversion (CRRA), the correlation between HL and self-assessed risk attitude becomes significant. Furthermore, the correlation between HL and SG also increases for CRRA-compatible subjects, although it remains statistically non-significant. |
| Databáze: | OpenAIRE |
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