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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
Assessment and Estimation of Risk Preferences
169
4.4.2 Groups Versus Individuals
Many risky decisions are made by groups rather than individuals. The laboratory pro-
vides an ideal platform for direct comparisons of individual risk attitudes with the pref-
erences implied by group decisions for analogous tasks. Of particular interest is whether
group decisions are more consistent with the average (or median) of individual prefer-
ences, whether more extreme risk preferences (either the most risk averse or the most
risk seeking) dominate the group decision, or whether group decisions tend to be more
or less consistent with risk neutral behavior that ...
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Publisher Resources

ISBN: 9780444536853