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We explore a variety of risk preference elicitation procedures that involve direct choice from a set of lotteries …) and also across elicitation tasks (inconsistent with direct implementation of EUH). An alternative nonparametric measure … each elicitation task. Each separate measure varies widely across individual subjects and across elicitation tasks, with …
Persistent link: https://www.econbiz.de/10011812252
We explore a variety of risk preference elicitation procedures that involve direct choice from a set of lotteries …) and also across elicitation tasks (inconsistent with direct implementation of EUH). An alternative nonparametric measure … each elicitation task. Each separate measure varies widely across individual subjects and across elicitation tasks, with …
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We introduce new graphical displays that present binary choice lotteries via three dimensional rotating pie charts whose heights represent the prize amounts. We compare four graphical versions to the original text-only Holt & Laury (2002) multiple price list. Parametric and non-parametric...
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experiments. In the first experiment, we elicit the value and probability weighting functions both under known and unknown … probability transformations rather than utility transformations. In the second experiment, we examine the effects of an increase …
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