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| Author: | Holt, C. A. Laury, S. K. |
| Title: | Risk aversion and incentive effects |
| Journal: | American Economic Review
2002 : DEC, VOL. 92:5, p. 1644-1655 |
| Index terms: | CHOICE THEORY INCENTIVES RISK AVERSION |
| Language: | eng |
| Abstract: | The nature of risk aversion (to what extent it exists, and how it depends on the size of the stake) is ultimately an empirical issue, and additional laboratory experiments can produce useful evidence that complements field observations by providing careful controls of probabilities and payoffs. In this paper, the authors directly address these issues by presenting subjects with simple choice tasks that may be used to estimate the degree of risk aversion as well as specific functional forms. |
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