2024-03-29T12:10:40Zhttps://repositori.uji.es/oai/requestoai:repositori.uji.es:10234/493542024-03-25T08:48:11Zcom_10234_8643com_10234_9col_10234_8644
00925njm 22002777a 4500
dc
Sabater-Grande, Gerardo
author
Barreda-Tarrazona, Iván
author
Jaramillo-Gutiérrez, Ainhoa
author
Navarro Martínez, Daniel
author
2011-10
We present a bi-dimensional multi lottery choice task which can be used in order to elicit the agents' risk attitudes in financial environments. This task is implemented both with hypothetical and real monetary incentives in a between-subjects and a within-subjects experiment. We observe choices involving significantly lower risk aversion on aggregate when incentives are real. The differences grow with the stakes at play. We also obtain significant differences between hypothetical and real rewards in both utility weighting and probability weighting estimated parameters. We find that the use of hypothetical incentives in multi-lottery choice tasks for evaluating individual risk aversion can be misleading.
Revista Española de Financiación y Contabilidad v. 40, n. 152 (Oct-Dec 2011): 613-628
02102412
http://hdl.handle.net/10234/49354
Experimental economics
Hypothetical bias
Multi-lottery choice task
Risk attitude elicitation using a multi-lottery choice task: Real vs. hypothetical incentives