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Replication data for: Distinguishing Probability Weighting from Risk Misperceptions in Field Data

Version
V0
Resource Type
Dataset
Creator
  • Barseghyan, Levon
  • Molinari, Francesca
  • O'Donoghue, Ted
  • Teitelbaum, Joshua C.
Publication Date
2013-05-01
Description
  • Abstract

    We outline a strategy for distinguishing rank-dependent probability weighting from systematic risk misperceptions in field data. Our strategy relies on singling out a field environment with two key properties: (i) the objects of choice are money lotteries with more than two outcomes; and (ii) the ranking of outcomes differs across lotteries. We first present an abstract model of risky choice that elucidates the identification problem and our strategy. The model has numerous applications, including insurance choices and gambling. We then consider the application of insurance deductible choices and illustrate our strategy using simulated data.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.103.3.580 (Text)
Publications
  • Barseghyan, Levon, Francesca Molinari, Ted O’Donoghue, and Joshua C Teitelbaum. “Distinguishing Probability Weighting from Risk Misperceptions in Field Data.” American Economic Review 103, no. 3 (May 2013): 580–85. https://doi.org/10.1257/aer.103.3.580.
    • ID: 10.1257/aer.103.3.580 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Barseghyan, Levon; Molinari, Francesca; O'Donoghue, Ted; Teitelbaum, Joshua C. (2013): Replication data for: Distinguishing Probability Weighting from Risk Misperceptions in Field Data. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E112637