Estimating risk attitudes in conventional and artefactual lab experiments

Drichoutis, Andreas and Koundouri, Phoebe (2011): Estimating risk attitudes in conventional and artefactual lab experiments.

Abstract

We elicit and compare risk preferences from student subjects and subjects drawn from the general population, using the multiple price list method devised by Holt and and Laury (2002). We find evidence suggesting that students have lower relative risk aversion than others.

• Item Type: MPRA Paper
• Language: English
• Keywords: Risk aversion, CRRA, expo-power, multiple price list
• Subjects: D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D81 - Criteria for Decision-Making under Risk and Uncertainty; D - Microeconomics > D0 - General > D01 - Microeconomic Behavior: Underlying Principles; C - Mathematical and Quantitative Methods > C9 - Design of Experiments > C91 - Laboratory, Individual Behavior

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