Is households’ risk attitude robust to different experimental payoffs?

Solomon Zena Walelign, Martin Reinhardt Nielsen, Xi Jiao and Jette Bredahl Jacobsen

Applied Economics Letters, 2019, vol. 26, issue 8, 703-706

Abstract: We compared risk attitudes among rural people in Tanzania and Kenya using an experimental design where payoffs were defined and quantified in maize and milk production. About 42% of the sample revealed different risk attitude between the two payoff types. The difference was mainly explained by household livelihood strategy, geographical location and ethnicity. Hence, appropriate pay-off metrics differ across contexts and different metrics may provide noncomparable results that does not reflect intrinsic risk attitude.

Date: 2019
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DOI: 10.1080/13504851.2018.1489496

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