Replication data for: Consistency and Heterogeneity of Individual Behavior under Uncertainty
Principal Investigator(s): View help for Principal Investigator(s) Syngjoo Choi; Raymond Fisman; Douglas Gale; Shachar Kariv
Version: View help for Version V1
| Name | File Type | Size | Last Modified |
|---|---|---|---|
| 20060377 | 12/07/2019 12:43:PM | ||
|
|
text/plain | 14.6 KB | 12/07/2019 07:43:AM |
Project Citation:
Choi, Syngjoo, Fisman, Raymond, Gale, Douglas, and Kariv, Shachar. Replication data for: Consistency and Heterogeneity of Individual Behavior under Uncertainty. Nashville, TN: American Economic Association [publisher], 2007. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116296V1
Project Description
Summary:
View help for Summary
By using graphical representations of simple portfolio choice problems, we generate
a very rich dataset to study behavior under uncertainty at the level of the individual
subject. We test the data for consistency with the maximization hypothesis,
and we estimate preferences using a two-parameter utility function based on Faruk
Gul (1991). This specification provides a good interpretation of the data at the individual
level and can account for the highly heterogeneous behaviors observed in
the laboratory. The parameter estimates jointly describe attitudes toward risk and
allow us to characterize the distribution of risk preferences in the population. (JEL
D11, D14, D81, G11)
Scope of Project
JEL Classification:
View help for JEL Classification
D11 Consumer Economics: Theory
D14 Household Saving; Personal Finance
D81 Criteria for Decision-Making under Risk and Uncertainty
G11 Portfolio Choice; Investment Decisions
D11 Consumer Economics: Theory
D14 Household Saving; Personal Finance
D81 Criteria for Decision-Making under Risk and Uncertainty
G11 Portfolio Choice; Investment Decisions
Related Publications
Published Versions
Report a Problem
Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.
This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.