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Incentive effects on risk attitude in small probability prospects

Lefebvre, M., Vieider, F. M. and Villeval, M. C. (2010) Incentive effects on risk attitude in small probability prospects. Economics Letters, 109 (2). pp. 115-120. ISSN 0165-1765

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To link to this item DOI: 10.1016/j.econlet.2010.09.002

Abstract/Summary

We report between-subject results on the effect of monetary stakes on risk attitudes. While we find the typical risk seeking for small probabilities, risk seeking is reduced under high stakes. This suggests that utility is not consistently concave.

Item Type:Article
Refereed:Yes
Divisions:Faculty of Arts, Humanities and Social Science > School of Politics, Economics and International Relations > Economics
ID Code:46530
Publisher:Elsevier

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