The risky investment game of Gneezy and Potters (1997) has been a popular tool used to estimate risk tolerance and myopic loss aversion. Holden and Tilahun (2021) tested and found that the simple one-shot version of this game that is attractive as a simple tool to elicit risk tolerance among...

We use a field experiment and a within-subject design based on multiple Choice Lists (CLs) that integrate time and risk. Diminishing impatience with extended time horizons is studied by varying time horizons from one week to two years. Time-dated risky prospects are constant within CLs and are...

While economists in the past tended to assume that individual preferences, including risk preferences, are stable over time, a recent literature has developed that indicates that risk preferences respond to shocks. This paper combines survey data and field experiments with three different tools...

Basic numeracy skills are obviously important for rational decisionmaking when agents are facing choices between risky prospects. Poor and vulnerable people with limited education and numeracy skills live in risky environments and have to make rational decisions in order to survive. How capable...

While economists in the past tended to assume that individual preferences, including risk preferences, are stable over time, a recent literature has developed and indicates that risk preferences respond to shocks. This paper utilizes a natural experiment with covariate (drought) and...