CLASSIFICATION OF RISK PREFERENCES WITH ELICITED UTILITY DATA: DOES FUNCTIONAL FORM MATTER?

Wesley Musser, Michael E. Wetzstein, Susan Y. Reece, Lynn M. Musser, Philip E. Varca and Charlene C.J. Chou

Western Journal of Agricultural Economics, 1984, vol. 09, issue 2, 7

Abstract: Recently, several problems with elicited utility functions have emerged. This paper concerns a fundamental problem in risk preference classification with elicited data. For the sample in this research, different functional forms resulted in reversals in preference classifications. This paper suggests that preference classifications must be interpreted with caution.

Keywords: Research; Methods/Statistical; Methods (search for similar items in EconPapers)
Date: 1984
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:wjagec:32133

DOI: 10.22004/ag.econ.32133

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