eprintid: 10058627
rev_number: 20
eprint_status: archive
userid: 608
dir: disk0/10/05/86/27
datestamp: 2018-10-17 11:05:12
lastmod: 2020-03-10 10:55:48
status_changed: 2020-03-10 10:55:48
type: article
metadata_visibility: show
creators_name: Kneeland, TL
creators_name: Freeman, D
creators_name: Halevy, Y
title: Eliciting Risk Preferences using Choice Lists
ispublished: pub
divisions: UCL
divisions: A01
divisions: B03
divisions: C03
divisions: F24
keywords: random incentive system, isolation, independence axiom, multiple price list, reduction of compound lotteries, preference reversals, certainty effect.
note: This is an open access article under the terms of the Creative Commons Attribution‐NonCommercial License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited and is not used for commercial purposes. https://creativecommons.org/licenses/by-nc/3.0/
abstract: We study the effect of embedding pairwise choices between lotteries
within a choice list on measured risk attitude. Using an experiment with online
workers, we find that subjects choose the risky lottery rather than a sure payment
significantly more often when responding to a choice list. This behavior can be rationalized
by the interaction between non-expected utility and the random incentive
system, as suggested by Karni and Safra (1987).
date: 2019-01
date_type: published
official_url: http://qeconomics.org/ojs/index.php/qe/issue/view/121
oa_status: green
full_text_type: pub
language: eng
primo: open
primo_central: open_green
verified: verified_manual
elements_id: 1593978
lyricists_name: Kneeland, Terri
lyricists_id: TKNEE24
actors_name: Kneeland, Terri
actors_id: TKNEE24
actors_role: owner
full_text_status: public
publication: Quantitative Economics
volume: 10
number: 1
pagerange: 217-237
citation:        Kneeland, TL;    Freeman, D;    Halevy, Y;      (2019)    Eliciting Risk Preferences using Choice Lists.                   Quantitative Economics , 10  (1)   pp. 217-237.          Green open access   
 
document_url: https://discovery.ucl.ac.uk/id/eprint/10058627/8/Kneeland_v646-3085-1-SP.pdf