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Replication data for: Consistency and Heterogeneity of Individual Behavior under Uncertainty

Version
1
Resource Type
Dataset
Creator
  • Choi, Syngjoo
  • Fisman, Raymond
  • Gale, Douglas
  • Kariv, Shachar
Publication Date
2007-12-01
Description
  • Abstract

    By using graphical representations of simple portfolio choice problems, we generate a very rich dataset to study behavior under uncertainty at the level of the individual subject. We test the data for consistency with the maximization hypothesis, and we estimate preferences using a two-parameter utility function based on Faruk Gul (1991). This specification provides a good interpretation of the data at the individual level and can account for the highly heterogeneous behaviors observed in the laboratory. The parameter estimates jointly describe attitudes toward risk and allow us to characterize the distribution of risk preferences in the population. (JEL D11, D14, D81, G11)
Availability
Download
Relations
  • Is supplement to
    DOI: 10.1257/aer.97.5.1921 (Text)
Publications
  • Choi, Syngjoo, Raymond Fisman, Douglas Gale, and Shachar Kariv. “Consistency and Heterogeneity of Individual Behavior under Uncertainty.” American Economic Review 97, no. 5 (November 2007): 1921–38. https://doi.org/10.1257/aer.97.5.1921.
    • ID: 10.1257/aer.97.5.1921 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-12-07

Choi, Syngjoo; Fisman, Raymond; Gale, Douglas; Kariv, Shachar (2007): Replication data for: Consistency and Heterogeneity of Individual Behavior under Uncertainty. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E116296V1