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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
193
reported by Kahneman and Tversky (1979)” (p. 888). A similar conclusion is reached by
Kachelmeier and Shehata (1992) who made cash payments in all rounds. They report
no significant effects of wealth accumulation on elicited risk preferences and conclude
that wealth effects are not pronounced. It is worth noting that this conclusion is based
on an additional assumption that future earnings are not fully anticipated when earnings
are accumulated in a series of rounds.
A more nuanced conclusion is reached by Andersen et al. (2013). They use confi-
dential demographic and wealth data for Danish subjects ...
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Publisher Resources

ISBN: 9780444536853