Within-subject intra- and inter-method consistency of two experimental risk attitude elicitation methods

Dulleck, Uwe, Fooken, Jonas, & Fell, Jacob (2015) Within-subject intra- and inter-method consistency of two experimental risk attitude elicitation methods. German Economic Review, 16(1), pp. 104-121.

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We compare the consistency of choices in two methods used to elicit risk preferences on an aggregate as well as on an individual level. We ask subjects to choose twice from a list of nine decisions between two lotteries, as introduced by Holt and Laury (2002, 2005) alternating with nine decisions using the budget approach introduced by Andreoni and Harbaugh (2009). We find that, while on an aggregate (subject pool) level the results are consistent, on an individual (within-subject) level, behaviour is far from consistent. Within each method as well as across methods we observe low (simple and rank) correlations.

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2 citations in Web of Science®

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ID Code: 65307
Item Type: Journal Article
Refereed: Yes
Keywords: Risk preferences, elicitation methods
DOI: 10.1111/geer.12043
ISSN: 1465-6485
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Economics & Finance
Copyright Owner: Copyright 2013 German Economic Association (Verein fur Socialpolitik)
Copyright Statement: The definitive version is available at www3.interscience.wiley.com
Deposited On: 16 Dec 2013 00:19
Last Modified: 08 Mar 2016 07:44

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