Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/238228
Authors: 
König-Kersting, Christian
Lohse, Johannes
Merkel, Anna
Year of Publication: 
2020
Series/Report no.: 
Working Papers in Economics and Statistics No. 2020-04
Publisher: 
University of Innsbruck, Research Platform Empirical and Experimental Economics (eeecon), Innsbruck
Abstract: 
Risk-taking may depend on whether risks result from an action (active risk-taking) or from not taking action (passive risk-taking). We develop a new experimental risk-elicitation procedure, the Dynamic Lottery Adjustment Task, and employ it across two separate experiments to study the size and direction of potential mode-of-choice effects (i.e. differences in risk-taking between active and passive decision modes). While our tightly controlled lab study provides little evidence for such effects, we find substantial evidence for mode-of-choice effects when decisions are spread out over 10 days and attention costs are a key feature of the online choice environment we use.
Subjects: 
risk-taking
mode-of-choice
status quo effect
omission bias
JEL: 
D81
D91
C91
Document Type: 
Working Paper

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