Sleepiness, choice consistency, and risk preferences

Marco Castillo (), David Dickinson and Ragan Petrie

Theory and Decision, 2017, vol. 82, issue 1, No 4, 73 pages

Abstract: Abstract We investigate the consistency and stability of individual risk preferences by manipulating cognitive resources. Participants are randomly assigned to an experiment session at a preferred time of day relative to their diurnal preference (circadian matched) or at a non-preferred time (circadian mismatched) and choose allocations between two risky assets [using the Choi et al. (Am Econ Rev 27(5):1921–1938, 2007), design]. We find that choices of circadian matched and mismatched subject are statistically similar in terms of satisfying basic requirements for preference consistency. However, mismatched subjects tend to choose riskier asset bundles.

Keywords: Risk aversion; Rationality; Cognitive resource depletion; Choice consistency; Sleepiness (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (23)

Downloads: (external link)
http://link.springer.com/10.1007/s11238-016-9559-7 Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Sleepiness, Choice Consistency, and Risk Preferences (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:theord:v:82:y:2017:i:1:d:10.1007_s11238-016-9559-7

Ordering information: This journal article can be ordered from
http://www.springer. ... ry/journal/11238/PS2

DOI: 10.1007/s11238-016-9559-7

Access Statistics for this article

Theory and Decision is currently edited by Mohammed Abdellaoui

More articles in Theory and Decision from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().