Displaying expected values in risk elicitation tasks: the effect of information in experimental risk research
Displaying expected values in risk elicitation tasks: the effect of information in experimental risk research
复制标题
在风险引发任务中显示期望值:实验风险研究中信息的影响
DOI:
10.1080/13669877.2017.1378246
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发表时间:
2019
影响因子:
5.1
通讯作者:
O. Musshoff
中科院分区:
文献类型:
--
作者:
Daniel Hermann;O. Musshoff
Abstract We investigate the influence of providing expected lottery results to experiment participants in two common risk attitude elicitation tasks. In a between-subject design, either the Holt and Laury task or the Eckel and Grossman task is carried out by a sample of 208 students. We find no significant effect of shown expected values on the risk attitude measured by the tasks. This result even holds true if we divide the experiment participants into specific sub-groups, i.e. female and male, or lower numeracy and higher numeracy participants. Furthermore, comprehension and processing time are not significantly influenced by presented expected values. Therefore, we conclude that providing information on expected values does not influence decision-making in tasks involving risk. This result indicates the robustness of elicited risk attitudes to variation in common experimental methods, and demonstrates that more information could be provided without creating bias in the results.