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Measuring Risk Aversion to Guide Policy: Naturalistic Tasks and Respondents
University of New South Wales (UNSW) Australia, Research Centre for Integrated Transport Innovation, Sydney, Australia.
Atkins North America, Denver, United States.
Applied Microeconomics, Copenhagen Business School, Department of Economics, Copenhagen, Denmark.
Georgia State University, Atlanta, USA.ORCID iD: 0000-0001-8616-3318
2013 (English)Conference paper, Oral presentation with published abstract (Refereed)
Abstract [en]

When measuring risk attitudes for use in policy analysis it is important to recognize that the context may matter. We propose a method that goes beyond simple context framing using text and pictures and instead relies on Virtual Reality simulations. Such simulations have been shown to improve the accuracy of perceptions in experimental context. We ask whether elicited risk preferences differ when using simulations or stylized lottery tasks, and compare students (a low cost convenient subject pool) to field subjects. While we see initial differences across our 2x2 treatment design, we find that they converge with repetition.

Place, publisher, year, edition, pages
2013.
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:oru:diva-68869OAI: oai:DiVA.org:oru-68869DiVA, id: diva2:1247464
Conference
2013 Regional ESA Conference, Hotel Paradox, Santa Cruz, California, USA, October 24-26, 2013
Available from: 2018-09-12 Created: 2018-09-12 Last updated: 2018-09-14Bibliographically approved

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Rutström, Elisabet

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CiteExportLink to record
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Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
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