The lottery-panel task for bi-dimensional parameter-free elicitation of risk attitudes
Aurora García-Gallego (),
Nikolaos Georgantzís (),
Ainhoa Jaramillo-Gutiérrez () and
Melanie Parravano ()
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Melanie Parravano: LEE-Economics Dpt., Universitat Jaume I (Spain)
No 10/12, ThE Papers from Department of Economic Theory and Economic History of the University of Granada.
We propose a simple task for the elicitation of risk attitudes, initially used in Sabater-Grande and Georgantzís (2002) [SGG], capturing two dimensions of individual decision making: subjects’ average willingness to choose risky projects and their sensitivity towards variations in the return to risk. We report results from a large dataset obtained from the test and discuss regularities and the desirability of its bi-dimensionality when used to explain behaviour in other contexts.
Keywords: Decision-making; Lotteries; Risk aversion (search for similar items in EconPapers)
Pages: 23 pages
New Economics Papers: this item is included in nep-exp and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:gra:wpaper:10/12
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