Harbaugh, William T.; Krause, Kate; Vesterlund, Lise - The Field Experiments Website - 2002
In this paper we examine how risk attitudes change with age. We present participants from age 5 to 65 with choices between simple gambles and the expected value of the gambles. The gambles are over both gains and losses, and vary in the probability of the non-zero payoff. Surprisingly, we find...
