Consistency of risk premium measures
通过一系列样本内实验,从农业生产者中获取风险溢价度量,发现不同情境和不同诱导方法下的度量之间缺乏一致性,表明潜在风险偏好并不一致,凸显了预期效用理论和风险测量的困难。
Abstract This research uses the results of a series of within‐sample experiments to elicit risk premium measures from agricultural producers. Results show that there is little consistency between measures in different contexts and using different elicitation methods, suggesting that underlying risk preferences are not consistent. These results highlight some of the difficulty with expected utility theory and risk measurement.