Three Risk-elicitation Methods in the Field: Evidence from Rural Senegal | Zendy

Gary Charness | Zendy; Angelino Viceisza | Zendy

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Three Risk-elicitation Methods in the Field: Evidence from Rural Senegal

Author(s) -

Gary Charness,

Angelino Viceisza

Publication year - 2016

Publication title -

review of behavioral economics

Language(s) - English

Resource type - Journals

eISSN - 2326-6201

pISSN - 2326-6198

DOI - 10.1561/105.00000046

Subject(s) - task (project management) , scale (ratio) , developing country , preference elicitation , computer science , field (mathematics) , risk analysis (engineering) , business , engineering , geography , economic growth , economics , cartography , systems engineering , preference , microeconomics , mathematics , pure mathematics

Abstract

In the past decade, it has become common to use simple laboratory games and decision tasks as a device for measuring risk preferences in the developing world. In this paper, we build on existing taxonomies for risk-elicitation and discuss pros and cons of using such methods in developing-country contexts. We use three distinct riskelicitation mechanisms (the Holt–Laury task, the Gneezy–Potters mechanism, and a non-incentivized willingness-to-risk scale) and subjects from rural Senegal. Our study provides some guidance to researchers wishing to use risk-elicitation mechanisms in the rural developing world.

DOI:10.1561/105.46

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