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Eliciting risk preferences : text vs. graphical multiple price lists

Sameh Habib; Daniel Friedman; Sean Crockett; Duncan James
We introduce new graphical displays that present binary choice lotteries via three dimensional rotating pie charts whose heights represent the prize amounts. We compare four graphical versions to the original text-only Holt & Laury (2002) multiple price list. Parametric and non-parametric measures of risk preferences are found to shift towards risk neutrality for the graphical displays.
Year of publication:
2015
Authors: Habib, Sameh ; Friedman, Daniel ; Crockett, Sean ; James, Duncan
Publisher: Berlin : WZB
Subject: Multiple Price List | Elicitation | Risk Aversion | Experiment | Risikopräferenz | Risk attitude | Risikoaversion | Risk aversion | Entscheidung unter Risiko | Decision under risk | Preis | Price
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