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.
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

English SPSS file
English STATA file
Note:

Variables

Variable name Variable Label Variable Type
nomem_encrNumber of the household member encryptedpreloaded
ga12a_mYear and month of the field work periodconstructed
ga12a061version part 4directly measured
ga12a001Number of euros I would like to invest in project 1directly measured
ga12a002Number of euros I would like to invest in project 2directly measured
ga12a003Number of euros I would like to invest in project 3directly measured
ga12a004However, 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
ga12a005You have to choose one of three interest-rate options for your loan. Which of the options, described above, do you choose?directly measured
ga12a006As 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
ga12a007As 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
ga12a008As 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
ga12a009As 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
ga12a010As 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
ga12a011As 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
ga12a012As 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
ga12a013As 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
ga12a014As 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
ga12a015As 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
ga12a016Please indicate how many Euro-cents you want to invest:directly measured
ga12a017In 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
ga12a018In 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
ga12a019In 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
ga12a020In 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
ga12a021In 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
ga12a022In 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
ga12a023In 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
ga12a024In 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
ga12a025In 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
ga12a026In 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
ga12a027In 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
ga12a028In 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
ga12a029In 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
ga12a030In 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
ga12a031In 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
ga12a032In 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
ga12a033In 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
ga12a034In 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
ga12a035In 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
ga12a036In 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
ga12a037In 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
ga12a038In 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
ga12a039In 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
ga12a040In 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
ga12a041In 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
ga12a042In 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
ga12a043In 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
ga12a044In 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
ga12a045Are you generally a person who is fully prepared to take risks or do you try to avoid taking risks?directly measured
ga12a046How would you rate your willingness to take risks concerning financial matters?directly measured
ga12a047Please choose your favorite option among the six options displayed in the table below.directly measured
ga12a048A 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
ga12a049If it takes 5 machines 5 minutes to make 5 widgets, how long would it take 100 machines to make 100 widgets?directly measured
ga12a050In 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
ga12a051Was it difficult to answer the questions?directly measured
ga12a052Were the questions sufficiently clear?directly measured
ga12a053Did the questionnaire get you thinking about things?directly measured
ga12a054Was it an interesting subject?directly measured
ga12a055Did you enjoy answering the questions?directly measured
ga12a056Starting date questionnaireconstructed
ga12a057Starting time questionnaireconstructed
ga12a058End date questionnaireconstructed
ga12a059End time questionnaireconstructed
ga12a060Duration in secondsderived

Questions

Questionnaire: Testing Mechanisms for Identifying True Risk Preferences

The questionnaire was originally conducted in Dutch.

Browse Testing Mechanisms for Identifying True Risk Preferences

Response 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.