This paper investigates the impact of peer observation on consumption decisions of rural households in Thailand using a lab-in-the-field experiment. We find that observing groups show lower within group standard deviation. Thus, we provide evidence for conformity. Further, we find that...

We compare seven established risk elicitation methods and investigate how robustly they explain eleven kinds of risky behavior with 760 individuals. Risk measures are positively correlated; however, their performance in explaining behavior is heterogeneous and, therefore, difficult to assess ex...

We use a repeated incentivized risk experiment in rural Thailand to test determinants of changes in the level of individual risk aversion over time. We find that risk aversion significantly changes between 2008 and 2013 as a result of macro- andmicro-level shocks. Strong macroeconomic recovery...