Journal
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION
Volume 87, Issue -, Pages 43-51Publisher
ELSEVIER
DOI: 10.1016/j.jebo.2012.12.023
Keywords
Risk preferences; Elicitation methods; Experimental methodology
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Economists and psychologists have developed a variety of experimental methodologies to elicit and assess individual risk attitudes. Choosing which to utilize, however, is largely dependent on the question one wants to answer, as well as the characteristics of the sample population. The goal of this paper is to present a series of prevailing methods for eliciting risk preferences and outline the advantages and disadvantages of each. We do not attempt to give a comprehensive account of all the methods or nuances of measuring risk, but rather to outline some advantages and disadvantages of different methods. (C) 2013 Published by Elsevier B.V.
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