Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/58375
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dc.contributor.authorBosch-Domènech, Antonien_US
dc.contributor.authorSilvestre, Joaquimen_US
dc.date.accessioned2012-06-07en_US
dc.date.accessioned2012-06-12T13:33:41Z-
dc.date.available2012-06-12T13:33:41Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/58375-
dc.description.abstractVarious experimental procedures aimed at measuring individual risk aversion involve a list of pairs of alternative prospects. We first study the widely used method by Holt and Laury (2002), for which we find that the removal of some items from the lists yields a systematic decrease in risk aversion. This bias is quite distinct from other confounds that have been previously observed in the use of the Holt and Laury method. It may be related to empirical phenomena and theoretical developments where better prospects increase risk aversion. Nevertheless, we have also found that the more recent elicitation method due to Abdellaoui et al. (2011), also based on lists, does not display any statistically significant bias when the corresponding items of the list are removed. Our results suggest that methods other than the popular Holt and Laury one may be preferable for the measurement of risk aversion.en_US
dc.language.isoengen_US
dc.publisher|aDep. of Economics, Univ. of California |cDavis, Calif.en_US
dc.relation.ispartofseries|aWorking Papers, University of California, Department of Economics |x12,10en_US
dc.subject.jelC91en_US
dc.subject.ddc330en_US
dc.subject.keywordrisk aversionen_US
dc.subject.keywordrisk attitudesen_US
dc.subject.keywordexperimentsen_US
dc.subject.keywordlistsen_US
dc.subject.keywordelicitation methoden_US
dc.subject.keywordHolten_US
dc.subject.keywordLauryen_US
dc.subject.keywordAbdellaouien_US
dc.subject.keywordDriouchien_US
dc.subject.keywordl'Haridonen_US
dc.subject.keywordindependence axiomen_US
dc.titleMeasuring risk aversion with lists: A new biasen_US
dc.typeWorking Paperen_US
dc.identifier.ppn717284050en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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