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Eliciting risk preferences: text vs. graphical multiple price lists
[working paper]
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 o... view more
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)... view less
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
Handle
https://hdl.handle.net/10419/123501
Status
Published Version; reviewed
Licence
Deposit Licence - No Redistribution, No Modifications