Risk aversion in the large and in the small

Estimates of agents’ risk aversion differ between market studies and experimental studies. We demonstrate that these estimates can be reconciled through consistent treatment of agents’ propensity for narrow framing.

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Year of publication:	2013
Authors:	Haug, Jørgen ; Hens, Thorsten ; Woehrmann, Peter
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 118.2013, 2, p. 310-313
Publisher:	Elsevier
Subject:	Risk aversion \| Narrow framing \| Laboratory experiments \| Market studies

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Type of publication:	Article
Classification:	G11 - Portfolio Choice ; G12 - Asset Pricing ; D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011041715