Harbaugh, William; Krause, Kate; Vesterlund, Lise - In: Experimental Economics 5 (2002) 1, pp. 53-84
In this paper we examine how risk attitudes change with age. We present participants from age 5 to 64 with choices between simple gambles and the expected value of the gambles. The gambles are over both gains and losses, and vary in the probability of the non-zero payoff. Surprisingly, we find...
