WP 2016-04 Small Stakes Risk Aversion in the Laboratory: A Reconsideration

Posted On June 29, 2016
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Published in 2017 in Economic Letters, Volume 160.

AUTHORS: Glenn W. Harrison, Morten I. Lau, Don Ross, J. Todd Swarthout

ABSTRACT: Evidence of risk aversion in laboratory settings over small stakes leads to a priori implausible levels of risk aversion over large stakes under certain assumptions. One core assumption in statements… more »

WP 2014-09 Eliciting Subjective Probability Distributions with Binary Lotteries

Posted On July 28, 2014
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Published in 2015 in Economic Letters, Volume 127.

AUTHORS: Glenn W. Harrison, Jimmy Martinez-Correa, J. Todd Swarthout, and Eric Ulm

ABSTRACT: We consider the elicitation of subjective belief distributions over continuous events using scoring rules with incentives. The theoretical literature suggests that risk attitudes have a surprisingly small role in distorting reports… more »