Measuring the risk attitude of decision‐makers: are there differences between groups of methods and persons?

摘要: Many studies quantifying individual risk preferences of test persons show that results different measuring methods may vary. Additional reservations about the reliability regarding attitude measurement arise from fact most are based on convenience groups, such as students or businessmen in developing countries. With this mind, we systematically compare to answer question how choice method affects results. Moreover, German farmers with those and Kazakhstani investigate whether farmers’ can be approximated through groups. The applied comprise an incentive-compatible Holt-and-Laury-lottery well two psychometric methods. Results respond consistently across all three elicitation whereas more inconsistent. Significant differences exist responses farmers. comparison between farmers, however, reveals significant similarities respect