The Economic Relevancy of Risk Preferences Elicited Online and With Low Stakes
John Gibson and
David Johnson ()
MPRA Paper from University Library of Munich, Germany
We explore the relevancy of subjects' risk preferences recovered using a subjective risk question to those recovered from the incentivized lottery experiments of Holt and Laury (2002), Gneezy and Potters (1997), and Johnson and Webb (2016). While a statistically significant relationship between subjective and incentivized risk measures has been documented, existing papers utilize laboratory (or lab-in-field) experiments with moderately large stakes. We investigate whether this relationship is preserved in an online environment with small stakes. Our results are consistent with the previous literature, suggesting that the correlation between subjective and incentivized risk measures is preserved online and with small stakes.
Keywords: Subjective Risk Preferences; Incentivized Risk Measures; Online Experiments (search for similar items in EconPapers)
JEL-codes: C90 D01 D03 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
https://mpra.ub.uni-muenchen.de/87231/1/MPRA_paper_87231.pdf original version (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:87231
Access Statistics for this paper
More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().