Estimating Risk Attitudes in Denmark: A Field Experiment
نویسندگان
چکیده
منابع مشابه
Estimating Risk Attitudes in Denmark: A Field Experiment
We estimate individual risk attitudes using controlled experiments in the field in Denmark. These risk preferences are elicited by means of field experiments involving real monetary rewards. The experiments were carried out across Denmark using a representative sample of 253 people between 19 and 75 years of age. Risk attitudes are estimated for various individuals differentiated by socio-demog...
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Discount rates are often used in cost-benefit analysis. Whenever costs and benefits for a household or individual are spread over time, it is essential that one calculate present-value equivalents in order to undertake meaningful comparisons. In most cases welfare analysts use market rates as the basis for these present-value calculations. Sensitivity analysis often consists of varying the scal...
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Evidence that individuals have dynamically consistent preferences is usually generated by studying the discount rates of the individual over different horizons, but where those rates are elicited at a single point in time. If these elicited discount rates vary by horizon the individual is typically claimed to have preferences that imply a dynamic inconsistency, although this inference requires ...
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Longitudinal experiments allow one to evaluate the temporal stability of latent preferences, but raise concerns about sample selection and attrition that may confound inferences about temporal stability. We evaluate the hypothesis of temporal stability in risk preferences using a remarkable data set that combines sociodemographic information from the Danish Civil Registry with information on ri...
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I introduce an integrated model of risk attitudes and other-regarding preferences that extends the standard notion of inequity discount to lotteries. In this model, a decision maker perceives inequity partly by comparing the marginal risks she and others face. It predicts that fairness considerations will alter risk attitudes, in particular, a higher tolerance to positively correlated (fair) ri...
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ژورنال
عنوان ژورنال: Scandinavian Journal of Economics
سال: 2007
ISSN: 0347-0520,1467-9442
DOI: 10.1111/j.1467-9442.2007.00496.x