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The SGG risk elicitation task:Implementation and results

Author

Listed:
  • Aurora García-Gallego

    (GLOBE-Economics Dpt., U. Granada & LEE-Ec. Dpt., U. Jaume I (Spain))

  • Nikolaos Georgantzís

    (GLOBE-Economics Dpt., Universidad de Granada (Spain) & BELIS, Murat Sertel Center for Advanced Economic Studies, Istanbul Bilgi University (Turkey))

  • Ainhoa Jaramillo-Gutiérrez

    (Economics & Finance Dpt., Universidad Castilla la Mancha (Spain))

  • Melanie Parravano

    (LEE-Economics Dpt., Universitat Jaume I (Spain))

Abstract

We propose a simple task for the elicitation of risk attitudes, initially used in Sabater-Grande and Georgantzís (2002) [SGG], capturing two dimensions of individual decision making: subjects’ average willingness to choose risky projects and their sensitivity towards variations in the return to risk. We report results from a large dataset obtained from the test and discuss regularities and the desirability of its bi-dimensionality when used to explain behaviour in other contexts.

Suggested Citation

  • Aurora García-Gallego & Nikolaos Georgantzís & Ainhoa Jaramillo-Gutiérrez & Melanie Parravano, 2010. "The SGG risk elicitation task:Implementation and results," ThE Papers 10/07, Department of Economic Theory and Economic History of the University of Granada..
    • Handle: RePEc:gra:wpaper:10/07
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    File URL: http://www.ugr.es/~teoriahe/RePEc/gra/wpaper/thepapers10_07.pdf
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    References listed on IDEAS

    as
    1. Brañas-Garza, Pablo & Guillen, Pablo & del Paso, Rafael López, 2008. "Math skills and risk attitudes," Economics Letters, Elsevier, vol. 99(2), pages 332-336, May.
    2. Aurora García-Gallego & Nikolaos Georgantzís & Pedro Pereira & José C. Pernías-Cerrillo, 2005. "Competing Against Simulated Equilibrium Price Dispersions: An Experiment On Internet-Assisted Search Markets," Working Papers 05-12, NET Institute.
    3. Antoni Bosch-Domènech & Joaquim Silvestre, 2006. "Risk aversion and embedding bias," Economics Working Papers 934, Department of Economics and Business, Universitat Pompeu Fabra.
    4. Sabater-Grande, Gerardo & Georgantzis, Nikolaos, 2002. "Accounting for risk aversion in repeated prisoners' dilemma games: an experimental test," Journal of Economic Behavior & Organization, Elsevier, vol. 48(1), pages 37-50, May.
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    Cited by:

    1. Paolo Crosetto & Antonio Filippin, 2013. "The “bomb” risk elicitation task," Journal of Risk and Uncertainty, Springer, vol. 47(1), pages 31-65, August.
    2. Paolo Crosetto & Antonio Filippin, 2013. "A Theoretical and Experimental Appraisal of Five Risk Elicitation Methods," SOEPpapers on Multidisciplinary Panel Data Research 547, DIW Berlin, The German Socio-Economic Panel (SOEP).

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    Keywords

    Psychometric Tests; Decision-making; Lotteries; Risk aversion.;
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