Measuring risk preferences in field experiments: Proposition of a simplified task

Timm Teubner (), Marc Adam () and Claudia Niemeyer ()
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Timm Teubner: Karlsruhe Institute of Technology (KIT), Germany
Marc Adam: The University of Newcastle, Australia
Claudia Niemeyer: Karlsruhe Institute of Technology (KIT), Germany

Economics Bulletin, 2015, vol. 35, issue 3, 1510-1517

Abstract: Individual risk preferences can serve as an effective control variable in order to describe human decisions and behavior. Due to limited participants' attention and time, using standard procedures may be difficult. This paper hence proposes a risk preference elicitation task, aiming to assess individual risk preferences in experiments conducted outside the lab. The test is evaluated against a well-established task by means of two online experiments comprising a total of 490 participants.

Keywords: risk preference elicitation; lottery choice; field experiments (search for similar items in EconPapers)
JEL-codes: C9 D8 (search for similar items in EconPapers)
Date: 2015-07-11
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Citations: View citations in EconPapers (1)

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