Risk aversion in the large and in the small

dc.contributor.author	Haug, Jørgen
dc.contributor.author	Hens, Thorsten
dc.contributor.author	Wöhrmann, Peter
dc.date.accessioned	2013-03-08T09:26:17Z
dc.date.available	2013-03-08T09:26:17Z
dc.date.issued	2011-06
dc.identifier.uri	http://hdl.handle.net/11250/164171
dc.description.abstract	Estimates of agents' risk aversion differ between market studies and experimental studies. We demonstrate that the estimates can be reconciled through consistent treatment of agents' tendency for narrow framing, regarding integration of background wealth as well as across risky outcomes: Risk aversion is similar whenever similar degrees of narrow framing is assumed in either setting.	no_NO
dc.language.iso	eng	no_NO
dc.publisher	Norwegian School of Economics. Department of Finance and Management Science	no_NO
dc.relation.ispartofseries	Discussion paper;2011:12
dc.subject	risk aversion	no_NO
dc.subject	narrow framing	no_NO
dc.subject	background wealth	no_NO
dc.subject	laboratory experiments	no_NO
dc.subject	market studies	no_NO
dc.subject	equity premium puzzle	no_NO
dc.title	Risk aversion in the large and in the small	no_NO
dc.type	Working paper	no_NO
dc.subject.nsi	VDP::Social science: 200::Economics: 210::Business: 213	no_NO