Varieties of risk preference elicitation
研究了当受试者从外生给定的彩票集合中直接选择时,不同任务属性(如选择类型、呈现方式)如何解释风险偏好测量结果的广泛差异。
We explore risk preference elicitation when subjects choose directly from an exogenously specified set of lotteries. Our choice tasks differ incrementally, e.g., from choosing between two lotteries to selecting a portfolio from a continuous set of bundled Arrow securities, and from text to spatial presentation. Each subject completes multiple instances of five different tasks, and responses for each task are summarized in parametric (CRRA) and non-parametric (normalized risk premium) measures of risk preference. Variation in task attributes explains much of the observed wide variation in elicited preferences and in correlations across task pairs.