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Title:Experimentally-validated survey evidence on individual risk attitudes in rural Thailand PDF Logo
Authors:Hardeweg, Bernd
Menkhoff, Lukas
Waibel, Hermann
Issue Date:2011
Series/Report no.:Discussion Paper, Wirtschaftswissenschaftliche Fakultät, Leibniz Universität Hannover 464
Abstract:This study validates a survey-based measure of general risk attitude by an incentive compatible experiment among more than 900 participants in rural Thailand. The survey measure of self-assessed risk attitude provides a useful approximation of the experimentally derived risk attitude. This holds when we add various socio-demographic control variables to the survey-experiment-relation which are available from the representative household survey and which are related to risk attitude in plausible ways. The survey measure also predicts individual behavior towards risk in other cases; the survey measure even outperforms the experimental measure in this respect.
Subjects:Field experiment
socio-economic survey
risk attitude
JEL:C93
D81
O1
Document Type:Working Paper
Appears in Collections:Diskussionspapiere, Wirtschaftswissenschaftliche Fakultät, Universität Hannover

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