Common components of risk and uncertainty attitudes across contexts and domains: evidence from 30 countries
By Ferdinand M. Vieider, Mathieu Lefebvre, Ranoua Bouchouicha, T. Chmura, Rustamdjan Hakimov, Michał Krawczyk, Peter Martinsson. 2015
255 citations recorded by the source corpus.
Attitudes towards risk and uncertainty have been indicated to be highly context-dependent, and to be sensitive to the measurement technique employed. We present data collected in controlled experiments with 2,939 subjects in 30 countries measuring risk and uncertainty attitudes through incentivized measures as well as survey questions. Our data show clearly that measures correlate not only within decision contexts or measurement methods, but also across contexts and methods. This points to the existence of one underlying “risk preference”, which influences attitudes independently of the measurement method or choice domain. We furthermore find that answers to a general and a financial survey question correlate with incentivized lottery choices in most countries. Incentivized and survey measures also correlate significantly between countries. This opens the possibility to conduct cultural comparisons on risk attitudes using survey instruments.
Subfields: Applied Psychology, General Decision Sciences, Sociology and Political Science
View Paper: https://www.semanticscholar.org/paper/28a87fd12b289273146018f3fd340a4d913b31cf
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In Applied Psychology
- Armin Falk
- Thomas J. Dohmen
- Paolo Crosetto
- Antonio Filippin
- Lukas Menkhoff
- Philipp Koellinger
- Marco Caliendo
In General Decision Sciences
- Anke Becker
- Thomas J. Dohmen
- Armin Falk
- David Huffman
- Uwe Sunde
- Anna Dreber
- Johan Almenberg
- Paolo Crosetto
In Sociology and Political Science
- Thomas J. Dohmen
- Armin Falk
- David Huffman
- Anke Becker
- Uwe Sunde
- Ernst Fehr
- Ruben Durante
- Matthias Doepke
Citations in the corpus
- The Preference Survey Module: A Validated Instrument for Measuring Risk, Time, and Social Preferences (2016, background): “For example, recent empirical work by Vieider et al. (2015) uses the same qualitative measure of risk attitudes that is included in our module and documents that it correlates with in-centivized lottery choice experiments conducted in 30 different countries.”