Understanding the order effect in eliciting risk aversion

被引：2

作者：

Sohn, Kitae ^{[1
]}

机构：

[1] Konkuk Univ, Dept Econ, 120 Neungdong Ro, Seoul 05029, South Korea

来源：

FINANCE RESEARCH LETTERS | 2019年 / 30卷

关键词：

Order effect; Risk aversion; Randomization; Indonesia; IF;

D O I：

10.1016/j.frl.2018.10.014

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Economists have found the order effect in eliciting risk aversion but have failed to explain it. We analyzed a nationally representative Indonesian dataset with a large sample size (13,669 men and 15,590 women) by exploiting the randomized ordering of two sets of questions regarding risk preferences. Probit models, multinomial probit models, and interval regressions were applied. Both men and women became more risk tolerant after they responded to either set of questions. The results are consistent with a well-known phenomenon in psychology: familiarity produces the illusion of control and enhances confidence in oneself.

引用

页码：314 / 317

页数：4

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