True Risk Preferences > Testing Mechanisms for Identifying True Risk Preferences
Single Wave Study
General Information
Title
Testing Mechanisms for Identifying True Risk Preferences
Project Number
81.1
Abstract
In February 2012, a questionnaire consisting of 5 parts was fielded in the LISS panel. Part 4 consisted of 5 different versions. The respondents were presented one of these versions; which version the respondent received, was determined at random. In the first 4 versions, the respondent had the possibility of earning money (with the exception of 1 conditional group, which was unable to earn money in part 4). Each time, the amount of money depended on the respondent’s decision and a die or coin tossed by the computer. One of the questionnaire parts was selected for actual payment of the sum earned. This amount was shown directly upon completion of the questionnaire.
Longitudinal Type
Single Wave Study
Begin date
06-02-2012
End date
28-02-2012
Note
All screens in this questionnaire lacked a ‘back’ button.
Topics
Researcher
Charness, Gary, Offerman, Theo, Villeval, Marie Claire
Publisher
CentERdata
Copyright
© 2013 CentERdata
Funding Organization
CentERdata/MESS Project
DOI
https://doi.org/10.17026/dans-zxj-bqtq
Datasets and documentation
View Documentation
Codebook in English
Codebook in Dutch
Data Files
Variables
| Variable name | Variable Label | Variable Type |
|---|---|---|
| nomem_encr | Number of the household member encrypted | preloaded |
| ga12a_m | Year and month of the field work period | constructed |
| ga12a061 | version part 4 | directly measured |
| ga12a001 | Number of euros I would like to invest in project 1 | directly measured |
| ga12a002 | Number of euros I would like to invest in project 2 | directly measured |
| ga12a003 | Number of euros I would like to invest in project 3 | directly measured |
| ga12a004 | However, you can insure yourself against this risk of losing the 10 Euros. Which of the options, that are described above, do you choose? | directly measured |
| ga12a005 | You have to choose one of three interest-rate options for your loan. Which of the options, described above, do you choose? | directly measured |
| ga12a006 | As you move down the table, the chances of the higher prize for each option increase. Please decide if you prefer option A or option B for decision task 1. | directly measured |
| ga12a007 | As you move down the table, the chances of the higher prize for each option increase. Please decide if you prefer option A or option B for decision task 2. | directly measured |
| ga12a008 | As you move down the table, the chances of the higher prize for each option increase. Please decide if you prefer option A or option B for decision task 3. | directly measured |
| ga12a009 | As you move down the table, the chances of the higher prize for each option increase. Please decide if you prefer option A or option B for decision task 4. | directly measured |
| ga12a010 | As you move down the table, the chances of the higher prize for each option increase. Please decide if you prefer option A or option B for decision task 5. | directly measured |
| ga12a011 | As you move down the table, the chances of the higher prize for each option increase. Please decide if you prefer option A or option B for decision task 6. | directly measured |
| ga12a012 | As you move down the table, the chances of the higher prize for each option increase. Please decide if you prefer option A or option B for decision task 7. | directly measured |
| ga12a013 | As you move down the table, the chances of the higher prize for each option increase. Please decide if you prefer option A or option B for decision task 8. | directly measured |
| ga12a014 | As you move down the table, the chances of the higher prize for each option increase. Please decide if you prefer option A or option B for decision task 9. | directly measured |
| ga12a015 | As you move down the table, the chances of the higher prize for each option increase. Please decide if you prefer option A or option B for decision task 10. | directly measured |
| ga12a016 | Please indicate how many Euro-cents you want to invest: | directly measured |
| ga12a017 | In Table 1, you make 14 choices between ‘option A’ and ‘option B’. Please now decide if you prefer option A or option B for decision task 1. | directly measured |
| ga12a018 | In Table 1, you make 14 choices between ‘option A’ and ‘option B’. Please now decide if you prefer option A or option B for decision task 2. | directly measured |
| ga12a019 | In Table 1, you make 14 choices between ‘option A’ and ‘option B’. Please now decide if you prefer option A or option B for decision task 3. | directly measured |
| ga12a020 | In Table 1, you make 14 choices between ‘option A’ and ‘option B’. Please now decide if you prefer option A or option B for decision task 4. | directly measured |
| ga12a021 | In Table 1, you make 14 choices between ‘option A’ and ‘option B’. Please now decide if you prefer option A or option B for decision task 5. | directly measured |
| ga12a022 | In Table 1, you make 14 choices between ‘option A’ and ‘option B’. Please now decide if you prefer option A or option B for decision task 6. | directly measured |
| ga12a023 | In Table 1, you make 14 choices between ‘option A’ and ‘option B’. Please now decide if you prefer option A or option B for decision task 7. | directly measured |
| ga12a024 | In Table 1, you make 14 choices between ‘option A’ and ‘option B’. Please now decide if you prefer option A or option B for decision task 8. | directly measured |
| ga12a025 | In Table 1, you make 14 choices between ‘option A’ and ‘option B’. Please now decide if you prefer option A or option B for decision task 9. | directly measured |
| ga12a026 | In Table 1, you make 14 choices between ‘option A’ and ‘option B’. Please now decide if you prefer option A or option B for decision task 10. | directly measured |
| ga12a027 | In Table 1, you make 14 choices between ‘option A’ and ‘option B’. Please now decide if you prefer option A or option B for decision task 11. | directly measured |
| ga12a028 | In Table 1, you make 14 choices between ‘option A’ and ‘option B’. Please now decide if you prefer option A or option B for decision task 12. | directly measured |
| ga12a029 | In Table 1, you make 14 choices between ‘option A’ and ‘option B’. Please now decide if you prefer option A or option B for decision task 13. | directly measured |
| ga12a030 | In Table 1, you make 14 choices between ‘option A’ and ‘option B’. Please now decide if you prefer option A or option B for decision task 14. | directly measured |
| ga12a031 | In Table 2, you also make 14 choices between ‘option A’ and ‘option B’. Please decide if you prefer option A or option B for decision task 1. | directly measured |
| ga12a032 | In Table 2, you also make 14 choices between ‘option A’ and ‘option B’. Please decide if you prefer option A or option B for decision task 2. | directly measured |
| ga12a033 | In Table 2, you also make 14 choices between ‘option A’ and ‘option B’. Please decide if you prefer option A or option B for decision task 3. | directly measured |
| ga12a034 | In Table 2, you also make 14 choices between ‘option A’ and ‘option B’. Please decide if you prefer option A or option B for decision task 4. | directly measured |
| ga12a035 | In Table 2, you also make 14 choices between ‘option A’ and ‘option B’. Please decide if you prefer option A or option B for decision task 5. | directly measured |
| ga12a036 | In Table 2, you also make 14 choices between ‘option A’ and ‘option B’. Please decide if you prefer option A or option B for decision task 6. | directly measured |
| ga12a037 | In Table 2, you also make 14 choices between ‘option A’ and ‘option B’. Please decide if you prefer option A or option B for decision task 7. | directly measured |
| ga12a038 | In Table 2, you also make 14 choices between ‘option A’ and ‘option B’. Please decide if you prefer option A or option B for decision task 8. | directly measured |
| ga12a039 | In Table 2, you also make 14 choices between ‘option A’ and ‘option B’. Please decide if you prefer option A or option B for decision task 9. | directly measured |
| ga12a040 | In Table 2, you also make 14 choices between ‘option A’ and ‘option B’. Please decide if you prefer option A or option B for decision task 10. | directly measured |
| ga12a041 | In Table 2, you also make 14 choices between ‘option A’ and ‘option B’. Please decide if you prefer option A or option B for decision task 11. | directly measured |
| ga12a042 | In Table 2, you also make 14 choices between ‘option A’ and ‘option B’. Please decide if you prefer option A or option B for decision task 12. | directly measured |
| ga12a043 | In Table 2, you also make 14 choices between ‘option A’ and ‘option B’. Please decide if you prefer option A or option B for decision task 13. | directly measured |
| ga12a044 | In Table 2, you also make 14 choices between ‘option A’ and ‘option B’. Please decide if you prefer option A or option B for decision task 14. | directly measured |
| ga12a045 | Are you generally a person who is fully prepared to take risks or do you try to avoid taking risks? | directly measured |
| ga12a046 | How would you rate your willingness to take risks concerning financial matters? | directly measured |
| ga12a047 | Please choose your favorite option among the six options displayed in the table below. | directly measured |
| ga12a048 | A ball and a hat cost 1,10 Euro in total. The ball costs 1 Euro more than the hat. How much does the hat cost? | directly measured |
| ga12a049 | If it takes 5 machines 5 minutes to make 5 widgets, how long would it take 100 machines to make 100 widgets? | directly measured |
| ga12a050 | In a lake, there is a patch of lily pads. Every day, the patch doubles in size. If it takes 48 days for the patch to cover the entire lake, how long would it take for the patch to cover half of the lake? | directly measured |
| ga12a051 | Was it difficult to answer the questions? | directly measured |
| ga12a052 | Were the questions sufficiently clear? | directly measured |
| ga12a053 | Did the questionnaire get you thinking about things? | directly measured |
| ga12a054 | Was it an interesting subject? | directly measured |
| ga12a055 | Did you enjoy answering the questions? | directly measured |
| ga12a056 | Starting date questionnaire | constructed |
| ga12a057 | Starting time questionnaire | constructed |
| ga12a058 | End date questionnaire | constructed |
| ga12a059 | End time questionnaire | constructed |
| ga12a060 | Duration in seconds | derived |
Questions
Questionnaire: Testing Mechanisms for Identifying True Risk Preferences
The questionnaire was originally conducted in Dutch.
Browse Testing Mechanisms for Identifying True Risk PreferencesResponse Information
Response Overview
Selected number of household members 1,647 (100%)Non-response: 481 (29.2%)
Response: 1,166 (70.8%)
Complete: 1,153 (70.0%)
Incomplete: 13 (0.8%)
Collection Events
Period
05-02-2012 to 27-02-2012
Sample
random subsample of the LISS panel consisting of 1,647 panel members
Collection Mode
internet survey
Fieldwork Note
A reminder was sent twice to non-respondents.
Publications
Risk Aversion and Religion Journal of Risk and Uncertainty, 47(2), 165-183; Noussair, C.N.
et al.
Risk Vulnerability in Dutch Health Insurance: The Effect of Background Risk on Deductible Choices Bachelor thesis, Department of Economics and Business Economics, University of Groningen; Dewever, K.A.
Do measures of risk attitude in the laboratory predict behavior under risk in and outside of the laboratory? Journal of Risk and Uncertainty, 60, 99–123; Charness, G.,
et al.