Are Risk Preferences Stable?
نویسندگان
چکیده
منابع مشابه
Risk Preferences Are Not Time Preferences: Reply
Can the well-known experimental phenomenon of present-bias in intertemporal choice be confounded with the risks associated with receiving payment? Can measurements of risk preferences be used to represent desires for smoothness in intertemporal payments? In our two 2012 papers in this journal we explored these two questions and found the answer to the first to be yes and the second to be no. We...
متن کاملRisk Preferences Are Not Time Preferences
Risk and time are intertwined. The present is known while the future is inherently risky. This is problematic when studying time preferences since uncontrolled risk can generate apparently present-biased behavior. We systematically manipulate risk in an intertemporal choice experiment. Discounted expected utility performs well with risk, but when certainty is added common ratio predictions fail...
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In the early morning hours of June 20, 2011 Ryan Dunn was driving his Porsche 911 GTE up to 140 miles per hour through the Pennsylvania countryside. The car careened over a guardrail and into a wooded area, killing Dunn and a passenger in a fiery crash. A toxicology report later determined that Dunn’s blood alcohol level was more than twice the legal limit. Many observers found the accident som...
متن کاملAre Risk Preferences Stable? Comparing an Experimental Measure with a Validated Survey-Based Measure
We examine the stability of risk preference within subjects by comparing measures obtained from two elicitation methods, an economics experiment with real monetary rewards and a survey with questions on hypothetical gambles. The survey questions have been validated by numerous empirical studies of investment, insurance demand, smoking and alcohol use, and recent studies have shown the experimen...
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How stable are human aesthetic preferences, and how does stability change over the lifespan? Here we investigate the stability of aesthetic taste in a cross-sectional study. We employed a simple rank-order preference task using paintings and photographs of faces and landscapes. In each of the four stimulus classes, we find that aesthetic stability generally follows an inverted U-shaped function...
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ژورنال
عنوان ژورنال: Journal of Economic Perspectives
سال: 2018
ISSN: 0895-3309
DOI: 10.1257/jep.32.2.135