Measuring the Subjective Risk Attitude of Decision-Makers: Are there Differences between Groups of Methods and of Persons?
Abstract: Many studies quantifying individual risk preferences of test persons show that results of different measuring methods may vary. Additional reservations about the reliability of the results arise from the fact that most studies are based on convenience groups, such as students or business-men in developing countries. With this in mind, we systematically compare different measuring methods to answer the question how the choice of method affects the results. Moreover, we compare the risk preferences of German farmers to those of students and Kazakhstani farmers in order to investigate whether farmers’ risk preferences can be approximated through those of convenience groups. The methods applied comprise an incentive-compatible Holt and Laury lottery, as well as two psychometric methods, namely self-assessment and the selection of a business-related contextualized statement, with which the test persons are most likely to agree. Results show that the risk preferences determined by applyi.... https://www.tib-op.org/ojs/index.php/gjae/article/view/1876
- Location
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Deutsche Nationalbibliothek Frankfurt am Main
- Extent
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Online-Ressource
- Language
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Englisch
- Bibliographic citation
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Measuring the Subjective Risk Attitude of Decision-Makers: Are there Differences between Groups of Methods and of Persons? ; volume:61 ; number:3 ; year:2012
German journal of agricultural economics ; 61, Heft 3 (2012)
- Creator
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Ewald, Jörn
Maart, Syster Christin
Mußhoff, Oliver
- DOI
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10.52825/gjae.v61i3.1876
- URN
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urn:nbn:de:101:1-2409251126357.165815933535
- Rights
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Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
- Last update
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15.08.2025, 7:32 AM CEST
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Associated
- Ewald, Jörn
- Maart, Syster Christin
- Mußhoff, Oliver
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