Consistency and heterogeneity of individual behavior under uncertainty

By Syngjoo Choi, Raymond J. Fisman, Douglas Gale, Shachar Kariv. 2007

428 citations recorded by the source corpus.

Subfields: Economics and Econometrics, General Decision Sciences, Safety Research

View Paper: https://www.semanticscholar.org/paper/966a7b58a1fac9aff6b4d1df8794738dbbf3eeae

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Citations in the corpus

Chapter 21 - Household Finance: An Emerging Field∗ (2013, positive): “Choi et al. (2007) find that individuals not only differ massively in their willingness to take on risk (as measured by the risk premium on a given gamble) but that they seem to have different types of utility functions.”
A Structural Analysis of Disappointment Aversion in a Real Effort Competition (2012, neutral): “2”
Household Portfolios and Implicit Risk Preference (2011, background): “…in a number of economic environments, from labor supply decisions (Chetty, 2006) to property and liability insurances (Szpiro, 1986), from television shows (Beetsma & Schotman, 2001) to auto insurance contracts (Cohen & Einav, 2007), and in the laboratory (Schubert et al., 1999; Choi et al., 2007).”
Uncertain Demand, Consumer Loss Aversion, and Flat-Rate Tariffs (2013, background): “Experimental evidence shows that people differ significantly with respect to their degrees of loss aversion, see for instance Choi et al. (2007). In line with our previous analysis, we posit that the degree of loss aversion is a stable preference parameter that is known to consumers already at the c”
Risk Tolerance and Entrepreneurship (2013, background): “2The literature on eliciting preferences in economics usually involves experiments with stakes that have little impact on lifetime resources (e.g., Choi et al., 2007, Dohmen et al., 2009), or answers to hypothetical survey questions (e.g., Barsky et al., 1997).”
The Rich Domain of Uncertainty: Source Functions and Their Experimental Implementation (2011, methodology): “Choi et al. (2007) used a similar model with power utility and the same distance measure to fit multiplechoice data.”
Individual Risk Attitudes: Measurement, Determinants and Behavioral Consequences (2009, background): “(2005), Eckel and Grossman (2008) and Choi et al. (2007).”
Estimating Ambiguity Aversion in a Portfolio Choice Experiment (2009, methodology): “Choi et al. (2007a) demonstrate that if utility maximization is not in fact the correct model, then the experiment is sufficiently powerful to detect it.”
Who Is (More) Rational (2014, methodology): “These decision problems are presented using a graphical interface introduced by Choi et al. (2007a) and used by Choi et al. (2007b).”
Investment, Resolution of Risk, and the Role of Affect (2011, positive): “10 Strong heterogeneity in investment behavior is also reported by Hopfensitz and van Winden (2008), using a similar investment task, and by Choi et al. (2007), who let participants choose a point on a budget line of possible portfolios.”
Asset Pricing in a Production Economy with Chew-Dekel Preferences (2007, neutral): “Choi, Fisman, Gale, and Kariv (2007) ’s estimates of disappointment aversion.”
Are Risk Preferences Stable Across Contexts? Evidence from Insurance Data (2011, methodology): “2 Recent examples include Choi et al. (2007) and Lisa R.”