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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
160
They used a random effects interval regression model to estimate the marginal effects
of a treatment being 2
nd
, 3
rd
, or 4
th
. The coefficients for being 2
nd
or 3
rd
were small and
insignificant, but the marginal effect of being in the 4
th
order was to raise the estimated
coefficient of relative risk aversion by 0.14, with a standard error of 0.05. However,
order effects are not present in a second laboratory experiment with US subjects and
some procedural differences; see Andersen et al. (2006, Table 7).
4.3.3 Framing Effects and the Structure of Choice Menus
The structure of the Holt–Laury choice menu in
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Publisher Resources

ISBN: 9780444536853