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	Coming with release in 2026		~4/2026	Economics	Survey items	2020