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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
183
aversion (the largest numbers of safe choices). Each of these subjects was paired with
one of the eight subjects with the fewest safe choices. In this manner, the authors were
able to evaluate the extent to which differences in risk aversion affected bargaining
behavior. The average number of safe choices (from the 21 rows) made by the risk-
averse group was about 15, and the average number of safe choices for the less risk-
averse group was about 5.
In the bargaining games that Murnighan, Roth, and Schoumaker considered, risk
aversion affects a person’s disagreement point. In one of their games, ...
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Publisher Resources

ISBN: 9780444536853