Measuring the Risk Attitude of Decision‐Makers: Are There Differences between Groups of Methods and Persons?
Measuring the Risk Attitude of Decision‐Makers: Are There Differences between Groups of Methods and Persons?
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DOI：
10.1111/j.1467-8489.2012.00620.x
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发表时间：
2014-07
期刊：
影响因子：
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通讯作者：
Syster C. Maart-Noelck;O. Musshoff
中科院分区：
文献类型：
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作者：
Syster C. Maart-Noelck;O. Musshoff
许多量化测试人员的个人风险偏好的研究表明，不同的测量方法的结果可能会有所不同。关于风险态度测量结果的可靠性的其他保留意见来自于这样一个事实，即大多数研究都是基于便利群体，如发展中国家的学生或商人。考虑到这一点，我们系统地比较了不同的测量方法，以回答方法的选择如何影响结果的问题。此外，我们比较了德国农民的风险偏好与学生和哈萨克斯坦农民的风险偏好，以调查农民的风险偏好是否可以近似通过那些方便的群体。所应用的方法包括一个激励兼容霍尔特和劳里彩票以及两个心理测量方法。结果表明，学生的反应一致，在所有三个启发式的方法，而德国和哈萨克斯坦的农民更不一致。德国学生和德国农民的回答存在显著差异。德国和哈萨克斯坦农民之间的风险偏好的比较，但是，揭示了显着的相似性方面的心理测量方法。
Many studies quantifying individual risk preferences of test persons show that results of different measuring methods may vary. Additional reservations about the reliability of the results regarding the risk attitude measurement arise from the fact that most studies are based on convenience groups, such as students or businessmen in developing countries. With this in mind, we systematically compare different measuring methods to answer the question how the choice of method affects the results. Moreover, we compare the risk preferences of German farmers with those of students and Kazakhstani farmers to investigate whether farmers’ risk preferences can be approximated through those of convenience groups. The methods applied comprise an incentive-compatible Holt-and-Laury-lottery as well as two psychometric methods. Results show that students respond consistently across all three elicitation methods whereas German and Kazakhstani farmers are more inconsistent. Significant differences exist in the responses of German students and German farmers. The comparison of risk preferences between German and Kazakhstani farmers, however, reveals significant similarities with respect to the psychometric methods.