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Experts in Experiments: How Selection Matters for Estimated Distributions of Risk Preferences
risk aversion loss aversion internet surveys laboratory experiments
2012/10/31
An ever increasing number of experiments attempts to elicit risk preferences of a population of interest with the aim of calibrating parameters used in economic models. We are concerned with two types...
Is There Selection Bias in Laboratory Experiments? The Case of Social and Risk Preferences
selection bias laboratory experiments external validity social preferences risk preferences
2012/11/1
Laboratory experiments are frequently used to examine the nature of individual preferences and inform economic theory. However, it is unknown whether the preferences of volunteer participants are repr...