Andersen, S. and Lau, M. I. and Harrison, G. W. and Rutstrom, E. (2008) 'Lost in state space : are preferences stable ?', International economic review., 49 (3). pp. 1091-1112.
We use field experiments to examine the temporal stability of risk preferences. Over a 17-month period, we elicited risk preferences from subjects chosen to be representative of the adult Danish population. During this period we revisited many of these subjects and repeated a risk aversion elicitation task. We find some variation in risk attitudes over time, but we do not detect a general tendency for risk attitudes to increase or decrease over a 17-month span. The results also suggest that risk preferences are state contingent with respect to personal finances.
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|Publisher Web site:||http://dx.doi.org/10.1111/j.1468-2354.2008.00507.x|
|Date accepted:||No date available|
|Date deposited:||No date available|
|Date of first online publication:||August 2008|
|Date first made open access:||No date available|
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