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Licensed Unlicensed Requires Authentication Published by De Gruyter November 30, 2019

Within-Subject Intra- and Inter-Method Consistency of Two Experimental Risk Attitude Elicitation Methods

Uwe Dulleck, Jonas Fooken and Jacob Fell
From the journal German Economic Review

Abstract

We compare the consistency of choices in two methods used to elicit risk preferences on an aggregate as well as on an individual level. We ask subjects to choose twice from a list of nine decisions between two lotteries, as introduced by Holt and Laury (2002, 2005) alternating with nine decisions using the budget approach introduced by Andreoni and Harbaugh (2009). We find that, while on an aggregate (subject pool) level the results are consistent, on an individual (within-subject) level, behaviour is far from consistent. Within each method as well as across methods we observe low (simple and rank) correlations.

Published Online: 2019-11-30
Published in Print: 2015-02-01

© 2019 by Walter de Gruyter Berlin/Boston

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