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ToolsGu, Ariel, Walker, Matthew J. and Yoo, Hong Il (2025) Narrow framing in risk aversion experiments: Further evidence from a wide replication. Journal of Applied Econometrics. ISSN 0883-7252
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Abstract
When evaluating risky options in experimental settings, do individuals integrate background finances with experimental earnings? An existing study, which combines experimental data on lottery choices and administrative data on personal wealth in Denmark, shows that individuals evaluate experimental payoffs in isolation. We replicate this finding using data from three experiments and survey-based measures of background finances for a representative Dutch sample. We show that the finding based on personal wealth extends to household wealth, personal income, and household income. The finding is also robust to different elicitation instruments, incentive structures, stake sizes, and interpersonal behavioral heterogeneity.
| Item Type: | Article |
|---|---|
| Additional Information: | Data Availability Statement: The data that support the findings of this study are openly available in the Journal Data Archive at https://doi.org/10.15456/jae.2025216.1251603116. Acknowledgement: In this paper, we make use of data from the LISS panel (Longitudinal Internet Studies for the Social Sciences) managed by the non-profit research institute Centerdata (Tilburg University, the Netherlands). We are grateful to Centerdata for providing access to the data, and Jens Prufer for bringing the LISS panel to our attention. We thank Heather Anderson, two anonymous reviewers, and members of the Newcastle University Applied Micro research group for helpful comments. |
| Uncontrolled Keywords: | asset integration,choice under uncertainty,expected utility,narrow framing,replication,structural estimation,economics and econometrics,social sciences (miscellaneous) ,/dk/atira/pure/subjectarea/asjc/2000/2002 |
| Faculty \ School: | Faculty of Social Sciences > School of Economics |
| UEA Research Groups: | Faculty of Social Sciences > Research Centres > Centre for Competition Policy Faculty of Science > Research Groups > Statistics |
| Related URLs: | |
| Depositing User: | LivePure Connector |
| Date Deposited: | 14 Aug 2025 15:30 |
| Last Modified: | 11 Oct 2025 14:34 |
| URI: | https://ueaeprints.uea.ac.uk/id/eprint/100146 |
| DOI: | 10.1002/jae.70010 |
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