CLASSIFICATION OF RISK PREFERENCES WITH ELICITED UTILITY DATA: DOES FUNCTIONAL FORM MATTER?

Recently, several problems with elicited utility functions have emerged. This paper concerns a fundamental problem in risk preference classification with elicited data. For the sample in this research, different functional forms resulted in reversals in preference classifications. This paper suggests that preference classifications must be interpreted with caution.


Issue Date:
1984-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/32133
Published in:
Western Journal of Agricultural Economics, Volume 09, Number 2
Page range:
322-328
Total Pages:
7




 Record created 2017-04-01, last modified 2017-08-24

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