Skip to Main Content
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
John D. Hey
820
on various methodological issues concerned with the running of experiments. We start
with an examination of the type of decision problem.
14.1.5 Different Kinds of Experiments
All the experiments that we have discussed so far have involved a set of pairwise-choice
questions (with the random lottery incentive mechanism used to furnish an appropriate
incentive). Such questions are easy for subjects to understand. They are also easy to use
in an experimental session. However, they are not particularly informative: if the subject
states that they prefer L to R, that is all you know—and you do not know how much
they prefer L to R.
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Handbook of the Economics of Finance

Handbook of the Economics of Finance

George M. Constantinides, Milton Harris, Rene M. Stulz
Quantitative Financial Risk Management: Theory and Practice

Quantitative Financial Risk Management: Theory and Practice

Constantin Zopounidis, Emilios Galariotis
Mathematical Methods for Finance: Tools for Asset and Risk Management

Mathematical Methods for Finance: Tools for Asset and Risk Management

Sergio M. Focardi, CFA Frank J. Fabozzi, Turan G. Bali

Publisher Resources

ISBN: 9780444536853