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Handbook of the Economics of Risk and Uncertainty
book

Handbook of the Economics of Risk and Uncertainty

by Mark Machina, W. Kip Viscusi
November 2013
Beginner content levelBeginner
896 pages
35h 10m
English
North Holland
Content preview from Handbook of the Economics of Risk and Uncertainty
Charles A. Holt and Susan K. Laury
156
two-thirds of the subjects in the low payoff treatment for Binswanger (1981) and Holt and
Laury (2002) are classified as risk averse, and only 20–25% are in the risk-neutral category,
with the remainder of about 10% being in a clearly risk seeking category.
19
The method-
ological implication is that if you are looking for qualitative results, then low payoffs may
be fine. A good example would be the Murnighan et al. (1988) and Millner and Pratt
(1991) papers that use (probability equivalent) risk aversion measures with low stakes to
categorize and sort players, in order to see how differences in risk aversion ...
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Publisher Resources

ISBN: 9780444536853