Risk aversion, prudence and temperance: An experiment in gain and loss
Marielle Brunette and
Research in Economics, 2019, vol. 73, issue 2, 174-189
We characterize the individual's attitude towards risk, prudence and temperance in the gain and loss domains. We analyze the links between the three features of preferences for a given domain and between domains for each feature of preferences. Consequently, the reflection effect, the mixed risk aversion and the risk apportionment, are key concepts of our study. We also display some determinants for risk aversion, prudence and temperance in each domain. To do this, we conducted a lab experiment with students eliciting risk aversion, prudence and temperance in the two domains, and collected information about each subject's characteristics.
Keywords: Risk aversion; Prudence; Temperance; Experiment; Correlations; Determinant (search for similar items in EconPapers)
JEL-codes: C91 D81 (search for similar items in EconPapers)
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Working Paper: Risk aversion, prudence and temperance: an experiment in gain and loss (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reecon:v:73:y:2019:i:2:p:174-189
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