Measurement of Higher Order Risk Preferences
Short Description: SOEP and SOEP-IS have measured risk aversion. However, these measures are not sufficient to understand behavior according to economic theory such as if people make intertemporal life decisions. Therefore, this module includes a new tailor-made set of lottery choices, to test for higher order risk attitudes, which are not currently measured in any major household survey.
Methodological Details: The participants were asked 9 different lottery items, for instance “What would you prefer: A draw with a 50-percent chance of receiving 300 Euro and the same 50-percent chance of receiving nothing, OR the amount of 150 Euro as a sure payment?”
Contact |
Syear |
Respondents |
Dataset |
Variables |
Availability |
Field |
Method |
Replication |
|---|---|---|---|---|---|---|---|---|
Sebastian Schneider (Max Planck Institute for Research on Collective Goods), Sebastian Riedmiller (Max Planck Institute for Research on Collective Goods), Stefan Trautmann (University of Heidelberg) |
2023 |
tba |
inno |
im_130, i130_31, i130_13, irip04_2, i130_19, irip06_1, i130_23, irip07_1, i130_10, i130_12, i130_33, irip09_1, i130_15, irip05_1, irip04_1, irip08_1, i130_4, i130_17, i130_8, irip03_2, i130_29, i130_21, i130_2, irip01, i130_6, i130_1, i130_25, i130_27, irip05_2, irip03_1, irip06_2, irip02_1, irip08_2, irip02_2, irip09_2 |
~4/2026 |
Economics |
Survey items |
2020,2025 |