Temporal stability of estimates of risk aversion

By Glenn W. Harrison, Eric J. Johnson, M. Mcinnes, E. Rutström. 2005

126 citations recorded by the source corpus.

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

View Paper: https://www.semanticscholar.org/paper/eea8a0fec85d81529c23fb13ac6920b9554cf526

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

In General Decision Sciences

In Safety Research

Citations in the corpus

Are risk preferences stable? Comparing an experimental measure with a validated survey-based measure (2008, methodology): “Sahm (2007) used panel data from the HRS to show that risk tolerance defined from the gamble questions is relatively stable for individuals over time, and Harrison et al. (2005) and Andersen et al. (2008) showed that risk attitudes defined from the lottery choice task are stable over time.”
The psychometric and empirical properties of measures of risk preferences (2017, unknown): “The research that does address or touch upon these questions suggests the measures are subject to significant measurement error (Barsky et al. 1997; Gillen et al. 2015; Harrison et al. 2005; Sahm 2012; Kimball et al. 2008; Lönnqvist et al. 2014) and have only limited predictive validity.”
Who Takes Risks When and Why: Determinants of Changes in Investor Risk Taking (2013, result): “Our respondents were online investors who frequently trade in stocks and other securities, providing greater external validity to our results than those of studies that have used student samples (Harrison et al., 2005; Baucells and Villasis, 2010).”
Risk Aversion and Incentive Effects: Comment (2005, background): “12 For example, Harrison, Johnson, McInnes, and Rutström (2005) show that risk preferences appear to be stable over time horizons of several months.”
Risk Aversion in the Laboratory (2008, methodology): “N ¼ 178 subjects from Harrison et al. (2005b). design used in subsequent studies.”
Measuring Individual Risk Attitudes in the Lab: Task or Ask? An Empirical Comparison (2015, unknown): “Thus, the problem appears specific to the behavioural measurement of individual risk attitudes by means of lottery choice tasks such as the one proposed by Holt and Laury (2002).(21) From an applied point of view, our results therefore recommend using the type of questionnaire measure advocated by D”
Measuring the time stability of Prospect Theory preferences (2010, unknown): “ Harrison et al. (2005) test the stability of risk preferences by estimating CRRA coefficients at two distinct points in time with the Holt and Laury (2002) procedure.”