Preference heterogeneity in experiments: Comparing the field and laboratory

    Authors

    S. Andersen; G. W. Harrison; M. I. Lau;E. E. Rutstrom

    Comments

    Authors: contact us about adding a copy of your work at STARS@ucf.edu

    Abbreviated Journal Title

    J. Econ. Behav. Organ.

    Keywords

    Field experiments; Laboratory experiments; Preferences; Risk aversion; Discount rates; FINANCIAL DECISION-MAKING; RISK-AVERSION; TRAINING-PROGRAMS; PROPENSITY; SCORE; UTILITY-THEORY; ATTITUDES; CAUSAL; CALIBRATION; DENMARK; CHOICES; Economics

    Abstract

    Do laboratory experiments provide a reliable basis for measuring field preferences? Economists recognize that preferences can differ across individuals. but only a few attempts have been made to elicit individual preferences for representative samples of a population in a particular geographical area, region or country Our primary objective is to directly compare estimates of preferences elicited from a convenience sample anti the estimates for the wider population from which that sample is drawn We examine the strengths and weaknesses of laboratory and field experiments to detect differences in preferences over risk and time that are associated with standard, observable characteristics of the individual (C) 2009 Elsevier B.V. All rights reserved.

    Journal Title

    Journal of Economic Behavior & Organization

    Volume

    73

    Issue/Number

    2

    Publication Date

    1-1-2010

    Document Type

    Article

    Language

    English

    First Page

    209

    Last Page

    224

    WOS Identifier

    WOS:000274926400007

    ISSN

    0167-2681

    Share

    COinS