Harrison, Glenn W.; Johnson, Eric J.; McInnes, Melayne … - 2005
their observations to argue that increased incentives appear to change risk attitudes, leading to greater risk aversion …Holt and Laury, AER 2002, develop an experimental design to determine the risk aversion of an individual. They use … the stakes still affects measured risk aversion, but the effect is only one-half of the apparent effect when one does not …