Gibson, John and Johnson, David (2018): The Economic Relevancy of Risk Preferences Elicited Online and With Low Stakes.
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Abstract
We explore the relevancy of subjects' risk preferences recovered using a subjective risk question to those recovered from the incentivized lottery experiments of Holt and Laury (2002), Gneezy and Potters (1997), and Johnson and Webb (2016). While a statistically significant relationship between subjective and incentivized risk measures has been documented, existing papers utilize laboratory (or lab-in-field) experiments with moderately large stakes. We investigate whether this relationship is preserved in an online environment with small stakes. Our results are consistent with the previous literature, suggesting that the correlation between subjective and incentivized risk measures is preserved online and with small stakes.
Item Type: | MPRA Paper |
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Original Title: | The Economic Relevancy of Risk Preferences Elicited Online and With Low Stakes |
Language: | English |
Keywords: | Subjective Risk Preferences; Incentivized Risk Measures; Online Experiments |
Subjects: | C - Mathematical and Quantitative Methods > C9 - Design of Experiments > C90 - General D - Microeconomics > D0 - General > D01 - Microeconomic Behavior: Underlying Principles D - Microeconomics > D0 - General > D03 - Behavioral Microeconomics: Underlying Principles |
Item ID: | 87231 |
Depositing User: | Dr. David Johnson |
Date Deposited: | 15 Jun 2018 13:24 |
Last Modified: | 28 Sep 2019 16:42 |
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URI: | https://mpra.ub.uni-muenchen.de/id/eprint/87231 |