Eliciting risk preferences usually involves tasks that subjects may find complex, such as calculations of expected … subjects may be driven by miscalculations or miscalibration of probabilities, rather than by their risk preferences. In this … risk aversion elicitation. The experiment was run with subjects from a rural area in Honduras. We compare the risk …

In developing world, the risk behavior of farmers is very crucial as their daily risk and uncertainty decisions affect … varied results in various countries. Present study investigated farmers’ risk behavior in one of the leading state in … determinants of risk for farmers with limited literacy and capabilities. It also compared two methods- expected utility theory and …