We use field experiments to examine the temporal stability of risk preferences. Stability can mean that a given subject exhibits the same risk attitudes over time, or that their risk attitudes are a stable function of states of nature that change over time. It is quite possible for risk...

The reflection effect and fourfold pattern of risk attitudes are often thought to be stylized facts about decision making under risk in lab settings. We take a closer look at this received wisdom, using 5 existing data sets from pairwise lottery choice experiments with real monetary incentives....