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Lookup NU author(s): Professor Ian Dobbs, Tony Miller
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A common procedure in experiments is to use binary lotteries to induce in all subjects pre-specified risk preferences. The validity of this procedure has been established only for a subject performing a single task, yet the procedure is normally applied in multi-task settings. This article formally analyses the multi-task case and establishes necessary and sufficient conditions relating to experimental design. New guidance is provided for the design of experiments involving interdependent tasks.
Author(s): Dobbs IM, Miller AD
Publication type: Article
Publication status: Published
Journal: Applied Economics Letters
Year: 2012
Volume: 19
Issue: 7
Pages: 657-660
Print publication date: 24/08/2011
ISSN (print): 1350-4851
ISSN (electronic): 1466-4291
Publisher: Routledge
URL: http://dx.doi.org/10.1080/13504851.2011.593493
DOI: 10.1080/13504851.2011.593493
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