Risk Attitudes , Randomization to Treatment , and Self-Selection Into Experiments

  title={Risk Attitudes , Randomization to Treatment , and Self-Selection Into Experiments},
  author={Glenn W. Harrison and Morten Igel Lau and E. Elisabet Rutstr{\"o}m},
Randomization to treatment is fundamental to statistical control in the design of experiments. But randomization implies some uncertainty about treatment condition, and individuals differ in their preferences towards taking on risk. Since human subjects often volunteer for experiments, or are allowed to drop out of the experiment at any time if they want to, it is possible that the sample observed in an experiment might be biased because of the risk of randomization. On the other hand, the… CONTINUE READING
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