Arbeitspapier
Small-scale changes in wealth and attitudes towards risk
This paper reports on an experiment designed to examine the effects of small-scale changes in wealth on risk attitudes. We find that the money given prior to risky choices does not induce a change of subjects' risk preferences. This result supports a key assumption in a recent literature over calibration critique of decision theories. Furthermore, as the money given to subjects in our experiment is administered in between risky tasks and framed as a reward rather than a windfall gain, our result suggests that experimental findings reporting that a prior monetary gain induces individuals to take more risks (housemoney effect) may be more sensitive to prior experience with the riskriskelicitation task or framing of the money than previously thought.
- Sprache
-
Englisch
- Erschienen in
-
Series: CeDEx Discussion Paper Series ; No. 2010-11
- Klassifikation
-
Wirtschaft
Design of Experiments: Laboratory, Individual
Microeconomic Behavior: Underlying Principles
Criteria for Decision-Making under Risk and Uncertainty
- Thema
-
risk aversion
wealth effects
risk-elicitation
house-money effect
narrow framing
Einkommen
Risikopräferenz
Risikoaversion
Entscheidungstheorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Sousa, Sergio
- Ereignis
-
Veröffentlichung
- (wer)
-
The University of Nottingham, Centre for Decision Research and Experimental Economics (CeDEx)
- (wo)
-
Nottingham
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Sousa, Sergio
- The University of Nottingham, Centre for Decision Research and Experimental Economics (CeDEx)
Entstanden
- 2010
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