Arbeitspapier
The "bomb" risk elicitation task
This paper presents the Bomb Risk Elicitation Task (BRET), an intuitive procedure aimed at measuring risk attitudes. Subjects decide how many boxes to collect out of 100, one of which containing a bomb. Earnings increase linearly with the number of boxes accumulated but are zero if the bomb is also collected. The BRET requires minimal numeracy skills, avoids truncation of the data, allows to precisely estimate both risk aversion and risk seeking, and is not affected by the degree of loss aversion or by violations of the Reduction Axiom. We validate the task and test its robustness in a large-scale experiment. Choices react significantly to the stakes and to the size of the choice set. Our experiment rationalizes the gender gap that often characterizes choices under uncertainty by means of a higher loss rather than risk aversion.
- Sprache
-
Englisch
- Erschienen in
-
Series: IZA Discussion Papers ; No. 6710
- Klassifikation
-
Wirtschaft
Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
Design of Experiments: Laboratory, Individual
Criteria for Decision-Making under Risk and Uncertainty
- Thema
-
risk aversion
loss aversion
elicitation method
Risikoaversion
Verlust
Entscheidung bei Unsicherheit
Test
Risikopräferenz
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Crosetto, Paolo
Filippin, Antonio
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for the Study of Labor (IZA)
- (wo)
-
Bonn
- (wann)
-
2012
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Crosetto, Paolo
- Filippin, Antonio
- Institute for the Study of Labor (IZA)
Entstanden
- 2012
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