We combine a survey and an experiment with real pay-out among Peking University students to measure and validate individual risk attitudes. The experiment involves choosing between a cash payment and playing a lottery. The survey questions ask for the reservation price of a hypothetical lottery...

Qualitative self-assessments of economic preferences have recently gained popularity, often supported by experimental validation, a method that links them to choices in incentivized elicitations. We illustrate theoretically that experimental validation may fail to produce reliable new measures....

It is shown how to test revealed preference data on choices under uncertainty for consistency with first and second order stochastic dominance (FSD or SSD). The axiom derived for SSD is a necessary and sufficient condition for risk aversion. If an investor is risk averse, stochastic dominance...

We leverage the assumption that preferences are stable across contexts to partially identify and conduct inference on the parameters of a structural model of risky choice. Working with data on households' deductible choices across three lines of insurance coverage and a model that nests expected...

We expose subjects in our experiment to the risk of having to reveal private information to other participants. We show that the decision to incur this risk is driven mainly by their general attitude to monetary risk. Survey attitudes to privacy play only a marginal role in explaining attitudes...

Utilizing a national online survey we conducted in China, we examine the impact of COVID-19 on individuals’ willingness to take risks, willingness to trust other people, and mental health measured by the Center for Epidemiological Studies-Depression (CES-D) scale. Our findings suggest that...

We combine a survey and an experiment with real pay-out among Peking University students to measure and validate individual risk attitudes. The experiment involves choosing between a cash payment and playing a lottery. The survey questions ask for the reservation price of a hypothetical lottery...

Recent experimental studies suggest that risk aversion is negatively related to cognitive ability. In this paper we report evidence that this relation might be spurious. We recruit a large subject pool drawn from the general Danish population for our experiment. By presenting subjects with...

Recent experimental studies suggest that risk aversion is negatively related to cognitive ability. In this paper we report evidence that this relation might be spurious.We recruit a large subject pool drawn from the general Danish population for our experiment. By presenting subjects with choice...