Context matters

• Published in: Experimental economics : a journal of the Economic Science Association Vol. 21; no. 4; pp. 723 - 756
• Main Authors: Zhou, Wenting, Hey, John
• Format: Journal Article
• Language: English
• Published: New York Springer US 01.12.2018; Springer Nature B.V
• Subjects: Behavioral/Experimental Economics; Economic models; Economic theory; Economic Theory/Quantitative Economics/Mathematical Methods; Economics; Economics and Finance; Elicitation; Expected utility; Experimental methods; Experimental Tools; Game Theory; Methods; Microeconomics; Operations Research/Decision Theory; Research subjects; Risk; Risk aversion; Social and Behav. Sciences; Truth; Utility functions; Experimental methods; Decision making; Experimental design; Preference measures; C91; Risk taking; D81

Eliciting the level of risk aversion of experimental subjects is of crucial concern to experimenters. In the literature there are a variety of methods used for such elicitation; the concern of the experiment reported in this paper is to compare them. The methods we investigate are the following: Hol...