Within-Subject Intra- and Inter-Method Consistency of Two Experimental Risk Attitude Elicitation Methods

Uwe Dulleck, Jonas Fooken, Jacob Fell

Research output: Contribution to journalArticlepeer-review

19 Citations (Scopus)

Abstract

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 ) alternating with nine decisions using the budget approach introduced by Andreoni and Harbaugh (). 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.

Original languageEnglish
Pages (from-to)104-121
Number of pages18
JournalGerman Economic Review
Volume16
Issue number1
DOIs
Publication statusPublished - 1 Feb 2015
Externally publishedYes

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