We evaluate the hypothesis of temporal stability in risk preferences using two recent data sets from longitudinal lab experiments. Both experiments included a combination of decision tasks that allows one to identify a full set of structural parameters characterizing risk preferences under...

The random preference (RP) model provides an integral framework for modeling within-individual heterogeneity in choice behavior, by attributing this heterogeneity to preference parameters in the underlying theory of risk attitudes instead of an additive error term that is external to the theory....