Title : Lottery- and survey-based risk attitudes linked through a multichoice elicitation task
Author(s) : Giuseppe Attanasi, Nikolaos Georgantzís, Valentina Rotondi, Daria Vigani
Abstract : In this paper we compare two mutually uncorrelated risk-attitude elicitation tasks. In particular, we test for correlation of the elicited degrees of monetary risk aversion at a within-subject level. We show that sufficiently similar incentivized mechanisms elicit correlated decisions in terms of monetary risk aversion only if other risk-related attitudes are accounted for. Furthermore, we ask subjects to self-report their general willingness to take risks. We find evidence of some external validity of the two tasks as predictors of self-reported risk attitudes in general human domains.
Key-words : Risk aversion, Elicitation method, Lottery choices.
JEL Classification : D81, C91