Testing for risk aversion: A stochastic dominance approach

Moshe Levy; Haim Levy

doi:10.1016/S0165-1765(01)00377-9

Testing for risk aversion: A stochastic dominance approach

Moshe Levy^*, Haim Levy

^*Corresponding author for this work

Business Administration

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26 Scopus citations

Abstract

We conduct an experiment based on the Stochastic Dominance framework in order to investigate risk-aversion in isolation of other effects such as subjective probability distortion, the 'certainty effect', and 'framing' effects. The result is striking: most individuals are not risk-averse.

Original language	English
Pages (from-to)	233-240
Number of pages	8
Journal	Economics Letters
Volume	71
Issue number	2
DOIs	https://doi.org/10.1016/S0165-1765(01)00377-9
State	Published - May 2001

Bibliographical note

Funding Information:
The authors acknowledge the financial support of the Krueger Fund and the Zagagi Fund.

Keywords

C91
D81
Decision-making under uncertainty
Risk-aversion
Stochastic Dominance

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10.1016/S0165-1765(01)00377-9

Cite this

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abstract = "We conduct an experiment based on the Stochastic Dominance framework in order to investigate risk-aversion in isolation of other effects such as subjective probability distortion, the 'certainty effect', and 'framing' effects. The result is striking: most individuals are not risk-averse.",

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author = "Moshe Levy and Haim Levy",

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Testing for risk aversion: A stochastic dominance approach

Abstract

Bibliographical note

Keywords

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