Valuing low probability risk: survey and experimental evidence |
| |
Authors: | Jamie Brown Kruse Mark A. Thompson |
| |
Affiliation: | Department of Economics, Texas Tech University, P.O. Box 41014, Lubbock, TX 79409, USA |
| |
Abstract: | This study uses a survey question and an economics experiment to elicit the value of a risk mitigation investment. For 93 subjects (48 males and 45 females) the responses to hypothetical questions are compared with a risk mitigation decision that has a salient outcome. We find no gender-differentiated responses to either the maximum accepted price in the economics experiment or hypothetical willingness to pay questions from the survey. In our design, the two procedures generate aggregate measures that were in close agreement, however individual decisions were seldom consistent. |
| |
Keywords: | Low probability risk Experiment Gender Risk mitigation Survey |
本文献已被 ScienceDirect 等数据库收录! |