The risk elicitation puzzle

Détails

ID Serval
serval:BIB_5A832CFB7BE9
Type
Article: article d'un périodique ou d'un magazine.
Sous-type
Compte-rendu: analyse d'une oeuvre publiée.
Collection
Publications
Institution
Titre
The risk elicitation puzzle
Périodique
Nature Human Behaviour
Auteur(s)
Pedroni A., Frey R., Bruhin A., Dutilh G., Hertwig R., Rieskamp J.
ISSN
2397-3374
Statut éditorial
Publié
Date de publication
11/2017
Peer-reviewed
Oui
Volume
1
Pages
803-809
Langue
anglais
Résumé
Evidence shows that people’s preference for risk changes considerably when measured using different methods, which led us to question whether the common practice of using a single behavioural elicitation method (EM) reflects a valid measure. The present study addresses this question by examining the across-methods consistency of observed risk preferences in 1,507 healthy participants using six EMs. Our analyses show that risk preferences are not consistent across methods when operationalized on an absolute scale, a rank scale or the level of model parameters of cumulative prospect theory. This is at least partly explained by the finding that participants do not consistently follow the same decision strategy across EMs. After controlling for methodological and human factors that may impede consistency, our results challenge the view that different EMs manage to stably capture risk preference. Instead, we interpret the results as suggesting that risk preferences may be constructed when they are elicited, and different cognitive processes can lead to varying preferences.
Création de la notice
23/09/2017 22:44
Dernière modification de la notice
20/08/2019 15:13
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