The binary lottery procedure does not induce risk neutrality in the Holt-Laury and Eckel-Grossman tasks

Jörg Oechssler and Andis Sofianos

We test whether the binary lottery procedure makes subjects behave as if they are risk neutral in the Holt-Laury and Eckel-Grossman tasks. Depending on the task we find that at most a third of subjects behave as if risk neutral. In fact, when we compare the distribution of choices we find no significant difference to earlier experiments in the same lab that did not use the binary lottery procedure.

MoreLess

Year of publication:	May 2019
Authors:	Oechssler, Joerg ; Sofianos, Andis
Publisher:	Heidelberg : Universität
Subject:	risk elicitation \| binary lottery procedure \| experimental economics \| Glücksspiel \| Gambling \| Experiment \| Entscheidung unter Risiko \| Decision under risk \| Präferenztheorie \| Theory of preferences \| Risiko \| Risk \| Erwartungsnutzen \| Expected utility \| Risikopräferenz \| Risk attitude

freely available

Full text |

More access options

archiv.ub.uni-heidelberg.de

nbn-resolving.org

doi.org

Check Google Scholar

In German libraries (KVK)

I need help

Extent:	1 Online-Ressource (17 Seiten) Illustrationen
Series:	Discussion paper series / University of Heidelberg, Department of Economics. - Heidelberg : [Verlag nicht ermittelbar], ZDB-ID 2217357-2. - Vol. no. 663
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Notes:	Gesehen am 18.05.2019
Other identifiers:	10.11588/heidok.00026438 [DOI] hdl:10419/207638 [Handle]
Classification:	C91 - Laboratory, Individual Behavior ; C81 - Methodology for Collecting, Estimating, and Organizing Microeconomic Data
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012007430