A failed attempt to explain within subject variation in risk taking behavior using domain specific risk attitudes

Cary Deck (), Jungmin Lee, Javier Reyes and Christopher C. Rosen

Journal of Economic Behavior & Organization, 2013, vol. 87, issue C, 1-24

Abstract: Previous research has found considerable variation in risk taking behavior within individuals across tasks. In this paper, we develop a hypothesis derived from the psychology literature that such apparently inconsistent behavior can be explained by a subject's domain specific risk attitudes. To test our hypothesis, we conducted a laboratory study using multiple paid risk elicitation tasks and a risk attitude survey. Consistent with previous research, our results indicated considerable within subject variation in behavior across tasks. However, we found little support for the hypothesis that this variation can be explained by domain specific risk attitudes.

Keywords: Risk attitudes; Risk taking behavior; Personality traits; Laboratory experiments (search for similar items in EconPapers)
JEL-codes: C9 D8 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (68)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:87:y:2013:i:c:p:1-24

DOI: 10.1016/j.jebo.2012.11.010

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