Three Risk-elicitation Methods in the Field - Evidence from Rural Senegal

Gary Charness and Angelino Viceisza

Review of Behavioral Economics, 2016, vol. 3, issue 2, 145-171

Abstract: In the past decade, it has become common to use simple laboratory games and decision tasks as a device for measuring risk preferences in the developing world. In this paper, we build on existing taxonomies for risk-elicitation and discuss pros and cons of using such methods in developing-country contexts. We use three distinct riskelicitation mechanisms (the Holt–Laury task, the Gneezy–Potters mechanism, and a non-incentivized willingness-to-risk scale) and subjects from rural Senegal. Our study provides some guidance to researchers wishing to use risk-elicitation mechanisms in the rural developing world.

Keywords: Risk-elicitation; Field Experiments; Laboratory experiments in the field; Comprehension; Rural Senegal; Microeconomics of Development; Risk Preferences; Choice under Risk/Uncertainty (search for similar items in EconPapers)
JEL-codes: B49 C91 C93 O13 O20 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (54)

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Persistent link: https://EconPapers.repec.org/RePEc:now:jnlrbe:105.00000046

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