Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/37396
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dc.contributor.authorMaier, Johannesen_US
dc.contributor.authorRüger, Maximilianen_US
dc.date.accessioned2010-08-11T08:53:13Z-
dc.date.available2010-08-11T08:53:13Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/37396-
dc.description.abstractIn this paper we propose a new method to elicit the intensity of individual's risk preferences. Our method uses a simple multiple price-list format and is based on the increasing risk definitions of Rothschild and Stiglitz (1970, 1971). We are thus able to classify individuals as more or less risk-averse without assuming an expected utility framework. In a lab experiment we directly compare our method to the well-known method of Holt and Laury (2002) and find that our approach yields higher estimates of relative risk aversion that are much closer to what is observed in the field.en_US
dc.language.isoengen_US
dc.publisher|aVerein für Socialpolitik |cFrankfurt a. M.en_US
dc.relation.ispartofseries|aBeiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Measuring Risk Preferences |xG6-V2en_US
dc.subject.jelD81en_US
dc.subject.jelC91en_US
dc.subject.jelD00en_US
dc.subject.ddc330en_US
dc.subject.keywordRisk Aversionen_US
dc.subject.keywordCRRAen_US
dc.subject.keywordMultiple Price-Listen_US
dc.subject.keywordElicitationen_US
dc.subject.keywordLaboratory Experimenten_US
dc.titleA Note on Measuring Risk Aversionen_US
dc.typeConference Paperen_US
dc.identifier.ppn655956557-
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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