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

BA Business Department

Research output: Contribution to journal › Article › peer-review

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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title = "Testing for risk aversion: A stochastic dominance approach",

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.",

keywords = "C91, D81, Decision-making under uncertainty, Risk-aversion, Stochastic Dominance",

author = "Moshe Levy and Haim Levy",

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KW - D81

KW - Decision-making under uncertainty

KW - Risk-aversion

KW - Stochastic Dominance

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Testing for risk aversion: A stochastic dominance approach

Abstract

Bibliographical note

Keywords

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