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dc.contributor.authorvon Gaudecker, Hans-Martinen_US
dc.contributor.authorvan Soest, Arthuren_US
dc.contributor.authorWengström, Eriken_US
dc.date.accessioned2009-03-10en_US
dc.date.accessioned2010-07-07T11:53:15Z-
dc.date.available2010-07-07T11:53:15Z-
dc.date.issued2009en_US
dc.identifier.piurn:nbn:de:101:1-20090304791en_US
dc.identifier.urihttp://hdl.handle.net/10419/35555-
dc.description.abstractWe analyse risk preferences using an experiment with real incentives in a representative sample of 1,422 Dutch respondents. Our econometric model incorporates four structural parameters that vary with observed and unobserved characteristics: Utility curvature, loss aversion, preferences towards the timing of uncertainty resolution, and the propensity to choose randomly rather than on the basis of preferences. We find that all four parameters contribute to explaining choice behaviour. The structural parameters are significantly associated with socio-economic variables, but it is essential to incorporate unobserved heterogeneity in each of them to match the rich variety of choice patterns in the data.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesIZA discussion papers 4022en_US
dc.subject.jelC90en_US
dc.subject.jelD81en_US
dc.subject.ddc330en_US
dc.subject.keywordRisk aversionen_US
dc.subject.keywordloss aversionen_US
dc.subject.keyworduncertainty resolutionen_US
dc.subject.keywordfield experimentsen_US
dc.subject.stwRisikopräferenzen_US
dc.subject.stwEntscheidung bei Unsicherheiten_US
dc.subject.stwTesten_US
dc.subject.stwNiederlandeen_US
dc.titleHeterogeneity in risky choice behaviour in a broad populationen_US
dc.typeWorking Paperen_US
dc.identifier.ppn593411110en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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