An Empirical Analysis of the Intertemporal Stability of Risk Preference

Ross O. Love · Lindon J. Robison

34 citations0/0 files storedJournal of Agricultural and Applied Economics

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Decision-Making and Behavioral Economics Experimental Behavioral Economics Studies Agricultural risk and resilience

Abstract

Abstract The interval measurement approach was used to obtain risk preference measures for 23 Michigan farmers in 1979 and again in 1981. This paper analyzes how risk preferences of the individuals in this group of decisionmakers changed over a two year time period. Risk preferences were most stable near typically experienced personal income levels.

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References

1964Risk Aversion in the Small and in the Large 1976Risk Aversion in the Small and in the Large 1980Attitudes Toward Risk: Experimental Measurement in Rural India 2007The Expected Utility Model: Its Variants, Purposes, Evidence and Limitations 1978Risk Attitudes of Subsistence Farmers in Northeast Brazil: A Sampling Approach 1974An Empirical Test of Utility vs. Profit Maximization in Agricultural Production 1977Choice among distributions 1968Utility Analysis in a Practical Setting

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2018Are Risk Attitudes Fixed Factors or Fleeting Feelings?1983Distinguishing Between Initial and Final Outcome Variables to Predict Choices Under Risk or Why Woody Chip Went to the Air 2020Almost Stochastic Dominance for Most Risk-Averse Decision Makers 2021Intertemporal stability of survey‐based measures of risk and time preferences 1993DIE METING VAN BESPROEIINGSBOERE SE ABSOLUTE RISIKOVERMYDINGSKOËFFISIËNTE MET BEHULP VAN DIE INTERVALMETODE: DIE IMPLIKASIES VAN SKAALAANPASSINGS / Measuring irrigation farmers' absolute risk-aversion coefficients by means of the interval approach: The implications of scale adjustments

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