Chapter 4 – Assessment and Estimation of Risk Preferences

@inproceedings{Holt2014Chapter4,
  title={Chapter 4 – Assessment and Estimation of Risk Preferences},
  author={Charles A. Holt and Susan K. Laury},
  year={2014}
}
This chapter surveys the rapidly growing literature in which risk preferences are measured and manipulated in laboratory and field experiments. The most commonly used measurement instruments are: an investment task for allocations between a safe and risky asset, a choice menu task for eliciting probability indifference points, and a pricing task for eliciting certainty equivalents of a lottery. These methods are compared in a manner that will help the practitioner decide which one to use, and… CONTINUE READING

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