Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/206596 
Year of Publication: 
2019
Citation: 
[Journal:] IZA World of Labor [ISSN:] 2054-9571 [Article No.:] 454 [Publisher:] Institute of Labor Economics (IZA) [Place:] Bonn [Year:] 2019
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
Risk aversion is an important factor in many settings, including individual decisions about investment or occupational choice, and government choices about policies affecting environmental, industrial, or health risks. Risk preferences are measured using surveys or incentivized games with real consequences. Reviewing the different approaches to measuring individual risk aversion shows that the best approach will depend on the question being asked and the study's target population. In particular, economists' gold standard of incentivized games may not be superior to surveys in all settings.
Subjects: 
risk aversion
risk preferences
incentivized measures
survey measures
JEL: 
D81
C1
Persistent Identifier of the first edition: 
Document Type: 
Article

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