Risk aversion in the large and in the small

Jørgen Haug, Thorsten Hens and Peter Woehrmann

Economics Letters, 2013, vol. 118, issue 2, 310-313

Abstract: Estimates of agents’ risk aversion differ between market studies and experimental studies. We demonstrate that these estimates can be reconciled through consistent treatment of agents’ propensity for narrow framing.

Keywords: Risk aversion; Narrow framing; Laboratory experiments; Market studies (search for similar items in EconPapers)
JEL-codes: D81 G11 G12 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:118:y:2013:i:2:p:310-313

DOI: 10.1016/j.econlet.2012.11.013

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