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Eliciting risk preferences: text vs. graphical multiple price lists

[working paper]

Habib, Sameh; Friedman, Daniel; Crockett, Sean; James, Duncan

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Please use the following Persistent Identifier (PID) to cite this document:http://hdl.handle.net/10419/123501

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Corporate Editor Wissenschaftszentrum Berlin für Sozialforschung gGmbH
Abstract 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 measures of risk preferences are found to shift towards risk neutrality for the graphical displays. (author's abstract)
Keywords price; risk behavior; experiment; risk; preference; parameter
Classification Basic Research, General Concepts and History of Economics; Social Psychology
Document language English
Publication Year 2015
City Berlin
Page/Pages 13 p.
Series Discussion Papers / Wissenschaftszentrum Berlin für Sozialforschung, Forschungsschwerpunkt Markt und Entscheidung, Forschungsprofessur Market Design: Theory and Pragmatics, SP II 2015-501
Status Published Version; reviewed
Licence Deposit Licence - No Redistribution, No Modifications