Risk attitude elicitation using a multi-lottery choice task: Real vs. hypothetical incentives
Ver/ Abrir
Impacto
Scholar |
Otros documentos de la autoría: Sabater-Grande, Gerardo; Barreda-Tarrazona, Iván; Jaramillo-Gutiérrez, Ainhoa; Navarro Martínez, Daniel
Metadatos
Mostrar el registro completo del ítemcomunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8643
comunitat-uji-handle3:10234/8644
comunitat-uji-handle4:
INVESTIGACIONMetadatos
Título
Risk attitude elicitation using a multi-lottery choice task: Real vs. hypothetical incentivesAutoría
Fecha de publicación
2011-10Editor
Editorial de Derecho FinancieroISSN
02102412Cita bibliográfica
Revista Española de Financiación y Contabilidad v. 40, n. 152 (Oct-Dec 2011): 613-628Tipo de documento
info:eu-repo/semantics/articleVersión de la editorial
http://www.aeca.es/pub/refc/articulos.php?id=1138Versión
info:eu-repo/semantics/submittedVersionPalabras clave / Materias
Resumen
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 ... [+]
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. [-]
Derechos de acceso
http://rightsstatements.org/vocab/CNE/1.0/
info:eu-repo/semantics/openAccess
info:eu-repo/semantics/openAccess
Aparece en las colecciones
- ECO_Articles [692]