Examining Risk Preferences under High Monetary Incentives: Experimental Evidence from the People's Republic of China
Examining Risk Preferences under High Monetary Incentives: Experimental Evidence from the People's Republic of China
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发表时间：
1992
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通讯作者：
Steven J. Kachelmeier;Mohamed Shehata
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作者：
Steven J. Kachelmeier;Mohamed Shehata
进行了几次实验，以引出涉及真实的货币结果的一系列彩票的确定性等价物。在中华人民共和国举办会议的机会提供了提供相对于受试者生活成本非常大的货币激励的能力;在最高回报条件下，受试者在两小时的实验过程中获得了三倍于正常月收入的收入。结果表明，在统计上显着影响的货币激励水平上透露的风险偏好。然而，即使在极端的货币激励下，受试者要求的金额远远超过预期价值的低概率收益的前景。版权所有1992年美国经济协会。
Several experimental sessions were conducted to elicit certainty equivalents for a sequence of lotteries involving real monetary outcomes. The opportunity to conduct sessions in the People's Republic of China afforded the ability to offer very large monetary incentives relative to subjects' living costs; in the highest payoff condition, subjects earned three times their normal monthly revenue in the course of a two-hour experiment. Results indicate a statistically significant impact of the level of monetary incentives on revealed risk preferences. However, even under extreme monetary incentives, subjects demanded amounts well in excess of expected value for low-probability gain prospects. Copyright 1992 by American Economic Association.