Arbeitspapier

Sleepiness, Choice Consistency, and Risk Preferences

We investigate the consistency and stability of individual risk preferences by manipulating cognitive resources. Participants are randomly assigned to an experiment session at a preferred time of day relative to their diurnal preference (circadian matched) or at a non-preferred time (circadian mismatched) and choose allocations between two risky assets (using the Choi et al., 2007, design). Consistency of behavior of circadian matched and mismatched subjects is statistically the same, however mismatched subjects tend to take more risks. We conclude that, consistent with several theories, preferences are rational yet can change depending on state-level cognitive resources.

Sprache
Englisch

Erschienen in
Series: IZA Discussion Papers ; No. 8709

Klassifikation
Wirtschaft
Design of Experiments: Laboratory, Individual
Criteria for Decision-Making under Risk and Uncertainty
Thema
sleep
risky preference
choice consistency

Ereignis
Geistige Schöpfung
(wer)
Castillo del Castillo, Marco
Dickinson, David L.
Petrie, Ragan
Ereignis
Veröffentlichung
(wer)
Institute for the Study of Labor (IZA)
(wo)
Bonn
(wann)
2014

Handle
Letzte Aktualisierung
10.03.2025, 11:41 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.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Castillo del Castillo, Marco
  • Dickinson, David L.
  • Petrie, Ragan
  • Institute for the Study of Labor (IZA)

Entstanden

  • 2014

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