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References for Measuring individual risk preferences
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Further reading
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Key references
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Becker, G. M., DeGroot, M. H., Marschak, J. "Measuring utility
by a single-response sequential method" Behavioral
Science 9:3 (1964): 226–232. Key reference: [1]
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Dave, C., Eckel, C. C., Johnson, C. A., Rojas, C. "Eliciting risk
preferences: When is simple better?" Journal of Risk
and Uncertainty 41:3 (2010): 219–243. Key reference: [2]
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Dohmen, T., Falk, A., Huffman, D., Sunde, U., Schupp, J., Wagner, G. G. "Individual risk
attitudes: Measurement, determinants, and behavioral
consequences" Journal of the
European Economic Association 9:3 (2011): 522–550. Key reference: [3]
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Falk, A., Becker, A., Dohmen, T., Enke, B., Huffman, D., Sunde, U. The Nature and
Predictive Power of Preferences: Global Evidence IZA Discussion
Paper No.9504, 2015. Key reference: [4]
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Galizzi, M. M., Machado, S. R., Miniaci, R. Temporal
Stability, Cross-validity, and External Validity of Risk
Preferences Measures: Experimental Evidence from a UK
Representative Sample LSE Working
Paper No., 2016. Key reference: [5]
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Weber, E. U., Blais, A. -R., Betz, N. E. "A domain-specific
risk-attitude scale: Measuring risk perceptions and risk
behaviors" Journal of
Behavioral Decision Making 15:4 (2002): 263–290. Key reference: [6]
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Holt, C. A., Laury, S. K. "Risk aversion and
incentive effects" American Economic
Review 92:5 (2002): 1644–1655. Key reference: [7]
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Binswanger, H. P. "Attitudes toward
risk: Theoretical implications of an experiment in rural
India" Economic
Journal 91:364 (1981): 867–890. Key reference: [8]
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Eckel, C. C., Grossman, P. J. "Forecasting risk
attitudes: An experimental study using actual and forecast
gamble choices" Journal of
Economic Behavior & Organization 68:1 (2008): 1–17. Key reference: [9]
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Charness, G., Gneezy, U., Imas, A. "Experimental
methods: Eliciting risk preferences" Journal of
Economic Behavior & Organization 87 (2013): 43–51. Key reference: [10]
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Gneezy, U., Potters, J. "An experiment on
risk taking and evaluation periods" The Quarterly
Journal of Economics 112:2 (1997): 631–645. Key reference: [11]
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Crosetto, P., Filippin, A. "A theoretical and
experimental appraisal of four risk elicitation methods" Experimental
Economics 19:3 (2016): 613–641. Key reference: [12]
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Andersson, O., Holm, H. J., Tyran, J. R., Wengström, E. "Risk aversion
relates to cognitive ability: Preferences or noise?" Journal of the
European Economic Association 14:5 (2016): 1129–1154. Key reference: [13]
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Becker, G. M., DeGroot, M. H., Marschak, J. "Measuring utility
by a single-response sequential method" Behavioral
Science 9:3 (1964): 226–232.
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Additional References
- Andersen, S., Harrison, G. W., Lau, M. I., Rutström, E. E. "Elicitation using multiple price list formats" Experimental Economics 9:4 (2006): 383–405.
- Anderson, L. R., Mellor, J. M. "Predicting health behaviors with an experimental measure of risk preference" Journal of Health Economics 27:5 (2008): 1260–1274.
- Anderson, L. R., Mellor, J. M. "Are risk preferences stable? Comparing an experimental measure with a validated survey-based measure" Journal of Risk and Uncertainty 39:2 (2009): 137–160.
- Arya, S., Eckel, C., Wichman, C. "Anatomy of the credit score" Journal of Economic Behavior & Organization 95 (2013): 175–185.
- Barr, A., Genicot, G. "Risk sharing, commitment, and information: An experimental analysis" Journal of the European Economic Association 6:6 (2008): 1151–1185.
- Binswanger, H. P. "Attitudes toward risk: Experimental measurement in rural India" American Journal of Agricultural Economics 62:3 (1980): 395–407.
- Berg, J. E., Dickhaut, J. W., McCabe, K. "Risk preference instability across institutions: A dilemma" Proceedings of the National Academies of Science 102:11 (2005): 4209–4214.
- Blais, A. -R., Weber, E. U. "A domain-specific risk-taking (DOSPERT) scale for adult populations" Judgment and Decision Making 1:1 (2006): 33–47.
- Burks, S. V., Carpenter, J. P., Goette, L., Monaco, K. A., Porter, K., Rustichini, A. Using Behavioral Economic Experiments at a Large Motor Carrier: the Context and Design of the Truckers and Turnover Project IZA Discussion Paper No.2789, 2007.
- Burks, S. V., Carpenter, J. P., Goette, L., Rustichini, A. "Cognitive skills affect economic preferences, strategic behavior, and job attachment" Proceedings of the National Academy of Sciences 106:19 (2009): 7745–7750.
- Charness, G., Gneezy, U. "Portfolio choice and risk attitudes: An experiment" Economic Inquiry 48:1 (2010): 133–146.
- Charness, G., Viceisza, A. "Three risk-elicitation methods in the field: Evidence from rural Senegal" Review of Behavioral Economics 3:2 (2016): 145–171.
- Chetty, R. "A new method of estimating risk aversion" American Economic Review 96:5 (2006): 1821–1834.
- Chuang, Y., Schechter, L. "Stability of experimental and survey measures of risk, time, and social preferences: A review and some new results" Journal of Development Economics 117 (2015): 151–170.
- Crosetto, P., Filippin, A. "The ‘bomb’ risk elicitation task" Journal of Risk and Uncertainty 47:1 (2013): 31–65.
- de Oliveira, A. C., Leonard, T. C., Shuval, K., Skinner, C. S., Eckel, C. C., Murdoch, J. C. "Economic preferences and obesity among a low-income African American community" Journal of Economic Behavior & Organization 131 (2016): 196–208.
- Deck, C., Lee, J., Reyes, J. A., Rosen, C. C. "A failed attempt to explain within subject variation in risk taking behavior using domain specific risk attitudes" Journal of Economic Behavior & Organization 87 (2013): 1–24.
- Dohmen, T., Falk, A., Huffman, D., Sunde, U. "Are risk aversion and impatience related to cognitive ability?" American Economic Review 100:3 (2010): 1238–1260.
- Eckel, C. C., El-Gamal, M., Wilson, R. K. "Risk loving after the storm: A Bayesian-network study of Hurricane Katrina evacuees" Journal of Economic Behavior and Organization 69:2 (2009): 110–124.
- Eckel, C. C., Grossman, P. J. "Sex differences and statistical stereotyping in attitudes toward financial risk" Evolution and Human Behavior 23:4 (2002): 281–295.
- Eckel, C. C., Grossman, P. J., Johnson, C. A., de Oliveira, C. A., Rojas, C., Wilson, R. K. "School environment and risk preferences: Experimental evidence" Journal of Risk and Uncertainty 45:3 (2012): 265–292.
- Falk, A., Becker, A., Dohmen, T. J., Huffman, D., Sunde, U. The Preference Survey Module: A Validated Instrument for Measuring Risk, Time, and Social Preferences IZA Discussion Paper No.9674, 2016.
- Filippin, A., Crosetto, P. "A reconsideration of gender differences in risk attitudes" Management Science 62:11 (2016): 3138–3160.
- Gandelman, N., Hernández-Murillo, R. "What do happiness and health satisfaction data tell us about relative risk aversion?" Journal of Economic Psychology 39 (2013): 301–312.
- Gneezy, U., Leonard, K. L., List, J. A. "Gender differences in competition: Evidence from a matrilineal and a patriarchal society" Econometrica 77:5 (2009): 1637–1664.
- Gong, B., Lei, V., Pan, D. "Before and after: The impact of a real bubble crash on investors’ trading behavior in the lab" Journal of Economic Behavior & Organization 95 (2013): 186–196.
- Henrich, J., Boyd, R., Bowles, S., Camerer, C. F., Fehr, E., Gintis, H. (eds). Foundations of Human Sociality: Economic Experiments and Ethnographic Evidence from Fifteen Small-scale Societies. New York: Oxford University Press, 2004.
- Henrich, J., McElreath, R., Barr, A., Ensminger, J., Barrett, C., Bolyanatz, A., Ziker, J. "Costly punishment across human societies" Science 312:5781 (2006): 1767–1770.
- Habib, S., Friedman, D., Crockett, S., James, D. "Payoff and presentation modulation of elicited risk preferences in MPLs" Journal of the Economic Science Association 3:2 (2017): 183–194.
- Herrmann, B., Thöni, C., Gächter, S. "Antisocial punishment across societies" Science 319:5868 (2008): 1362–1367.
- Holt, C. A., Laury, S. K. "Assessment and estimation of risk preferences" In: Machina, M., Viscusi, K. (eds). Handbook of the Economics of Risk and Uncertainty Volume 1. Amsterdam: North Holland, 2014.
- Imas, A. "The realization effect: Risk-taking after realized versus paper losses" American Economic Review 106:8 (2016): 2086–2109.
- Kachelmeier, S. J., Shehata, M. "Examining risk preferences under high monetary incentives: Experimental evidence from the People's Republic of China" American Economic Review 82:5 (1992): 1120–1141.
- Lejuez, C. W., Read, J. P., Kahler, C. W., Richards, J. B., Ramsey, S. E., Stuart, G. L., Brown, R. A. "Evaluation of a behavioral measure of risk taking: The Balloon Analogue Risk Task (BART)" Journal of Experimental Psychology: Applied 8:2 (2002): 75–84.
- Leonard, T., Shuval, K., de Oliveira, A., Skinner, C. S., Eckel, C., Murdoch, J. C. "Health behavior and behavioral economics: Economic preferences and physical activity stages of change in a low-income African-American community" American Journal of Health Promotion 27:4 (2013): 211–221.
- MacCrimmon, K. R., Wehrung, D. A. "A portfolio of risk measures" Theory and Decision 19:1 (1985): 1–29.
- Niederle, M. "Gender" In: Kagel, J., Roth, A. E. (eds). The Handbook of Experimental Economics Volume 2. Princeton, NJ: Princeton University Press, 2016.
- Schoemaker, P. J. H. "Are risk-attitudes related across domains and response modes?" Management Science 36:12 (1990): 1451–1463.
- Shurchkov, O., Eckel, C. "Gender differences in behavioral traits and labor market outcomes" In: Averett, S., Argys, L., Hoffman, S. (eds). Oxford Handbook on Women and the Economy. Oxford: Oxford University Press, 2017.
- Slovic, P. "Convergent validation of risk taking measures" Journal of Abnormal and Social Psychology 65:1 (1962): 68–71.
- Zuckerman, M. Behavioral Expressions and Biosocial Bases of Sensation Seeking. Cambridge University Press: New York, 1994.