Please use this identifier to cite or link to this item: https://doi.org/10.15480/882.4665
Fulltext available Open Access
Publisher DOI: 10.1111/iere.12424
Title: Exploring the consistency of higher-order risk preferences
Language: English
Authors: Haering, Alexander 
Heinrich, Timo  
Mayrhofer, Thomas 
Issue Date: 7-Oct-2019
Publisher: Wiley-Blackwell
Source: International Economic Review 61 (1): 283-320 (2020-02)
Abstract (english): 
This study measures higher order risk preferences and their consistency. We explore the role of country differences, the variation of stakes, and the framing of lotteries. We observe a robust dichotomous pattern of choice behavior in China, the United States, and Germany. The majority of choices are consistent with mixed risk aversion or mixed risk-loving behavior. We also find this pattern after a 10-fold increase in the stakes. Finally, our results reveal that this pattern is strengthened if the lotteries are displayed in compound instead of reduced form. In a follow-up study, we explore potential explanations for this framing effect.
URI: http://hdl.handle.net/11420/9068
DOI: 10.15480/882.4665
ISSN: 1468-2354
Journal: International economic review 
Document Type: Article
License: In Copyright In Copyright
Appears in Collections:Publications with fulltext

Files in This Item:
File Description SizeFormat
exploring_the_consistency.pdf3,57 MBAdobe PDFView/Open
Thumbnail
Show full item record

Page view(s)

82
Last Week
1
Last month
1
checked on Dec 6, 2022

Download(s)

15
checked on Dec 6, 2022

SCOPUSTM   
Citations

4
Last Week
0
Last month
0
checked on Jul 11, 2022

Google ScholarTM

Check

Note about this record

Cite this record

Export

Items in TORE are protected by copyright, with all rights reserved, unless otherwise indicated.