Data and Code for: Revealed Preferences over Risk and Uncertainty
- Polisson, Matthew (University of Bristol)
- Quah, John K.-H. (Johns Hopkins University)
- Renou, Ludovic (Queen Mary University of London)
AbstractWe develop a nonparametric method called Generalized Restriction of Infinite Domains (GRID), for testing the consistency of budgetary choice data with models of choice under risk and under uncertainty. Our test can allow for risk loving and elation seeking attitudes, or it can require risk aversion. It can also be used to calculate, via Afriat's efficiency index, the magnitude of violations from a particular model. We evaluate the performance of various models under risk (expected utility, disappointment aversion, rank dependent utility, and stochastically monotone utility) using data collected from several recent portfolio choice experiments.
2007-01-01 / 2018-12-31Time Period: Mon Jan 01 00:00:00 EST 2007--Mon Dec 31 00:00:00 EST 2018
2007-01-01 / 2018-12-31Collection Date(s): Mon Jan 01 00:00:00 EST 2007--Mon Dec 31 00:00:00 EST 2018
USA, Netherlands, Canada
Choi et al. (2014) -- 1,182 subjects, representative of the Dutch-speaking population of the Netherlands
Halevy, Persitz, and Zrill (2018) -- 207 subjects, primarily undergraduate students at the University of British Columbia
Polisson, Matthew, John K.-H. Quah, and Ludovic Renou. “Revealed Preferences over Risk and Uncertainty.” American Economic Review, n.d.
Update Metadata: 2020-05-27 | Issue Number: 1 | Registration Date: 2020-05-27