Oechssler, Jörg ; Sofianos, Andis
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Abstract
We test whether the binary lottery procedure makes subjects behave as if they are risk neutral in the Holt-Laury and Eckel-Grossman tasks. Depending on the task we find that at most a third of subjects behave as if risk neutral. In fact, when we compare the distribution of choices we find no significant difference to earlier experiments in the same lab that did not use the binary lottery procedure.
| Document type: | Working paper |
|---|---|
| Series Name: | Discussion Paper Series / University of Heidelberg, Department of Economics |
| Volume: | 0663 |
| Place of Publication: | Heidelberg |
| Date Deposited: | 17 May 2019 13:12 |
| Date: | May 2019 |
| Number of Pages: | 17 |
| Faculties / Institutes: | The Faculty of Economics and Social Studies > Alfred-Weber-Institut for Economics |
| DDC-classification: | 330 Economics |
| Uncontrolled Keywords: | risk elicitation, binary lottery procedure, experimental economics |
| Series: | Discussion Paper Series / University of Heidelberg, Department of Economics |
