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Experimental methods: Eliciting risk preferences

Gary Charness (), Uri Gneezy and Alex Imas ()

Journal of Economic Behavior & Organization, 2013, vol. 87, issue C, 43-51

Abstract: Economists and psychologists have developed a variety of experimental methodologies to elicit and assess individual risk attitudes. Choosing which to utilize, however, is largely dependent on the question one wants to answer, as well as the characteristics of the sample population. The goal of this paper is to present a series of prevailing methods for eliciting risk preferences and outline the advantages and disadvantages of each. We do not attempt to give a comprehensive account of all the methods or nuances of measuring risk, but rather to outline some advantages and disadvantages of different methods.

Keywords: Risk preferences; Elicitation methods; Experimental methodology (search for similar items in EconPapers)
JEL-codes: C91 D03 D81 (search for similar items in EconPapers)
Date: 2013
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Journal of Economic Behavior & Organization is currently edited by Houser, D. and Puzzello, D.

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