Accessibility navigation


Lottery- and survey-based risk attitudes linked through a multichoice elicitation task

Attanasi, G., Georgantzis, N., Rotondi, V. and Vigani, D. (2017) Lottery- and survey-based risk attitudes linked through a multichoice elicitation task. Theory and Decision. ISSN 1573-7187

Full text not archived in this repository.

To link to this item DOI: 10.1007/s11238-017-9613-0

Abstract/Summary

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.

Item Type:Article
Refereed:Yes
Divisions:Faculty of Life Sciences > School of Agriculture, Policy and Development > Economic and Social Sciences Division > Food Economics and Marketing (FEM)
ID Code:72212
Publisher:Springer

University Staff: Request a correction | Centaur Editors: Update this record

Page navigation