The binary lottery procedure does not induce risk neutrality in the Holt & Laury and Eckel & Grossman tasks
We test whether the binary lottery procedure makes participants behave as if they are risk neutral in the Holt and Laury (2002) and Eckel and Grossman (2002) tasks. Depending on the task, we find that less than half of the participants behave as if risk neutral. In fact, when we compare the distribu...
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| Main Authors: | , , |
|---|---|
| Format: | Article (Journal) |
| Language: | English |
| Published: |
19 March 2021
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| In: |
Journal of economic behavior & organization
Year: 2021, Volume: 185, Pages: 348-369 |
| ISSN: | 1879-1751 |
| DOI: | 10.1016/j.jebo.2021.02.026 |
| Online Access: | Verlag, lizenzpflichtig, Volltext: https://doi.org/10.1016/j.jebo.2021.02.026 Verlag, lizenzpflichtig, Volltext: https://www.sciencedirect.com/science/article/pii/S0167268121000937 
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| Author Notes: | Oliver Kirchkamp, Joerg Oechssler, Andis Sofianos |
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