Glenn W. Harrison
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View article: Welfare consequences of the compound risks of index insurance
Welfare consequences of the compound risks of index insurance Open
Index insurance is an attractive variant on the standard insurance contract that allows the determination of a loss event to be defined by one or more thresholds on an index that is positively correlated with actual losses. Index insurance…
View article: CONSTANT DISCOUNTING, TEMPORAL INSTABILITY, AND DYNAMIC INCONSISTENCY IN DENMARK: A LONGITUDINAL FIELD EXPERIMENT
CONSTANT DISCOUNTING, TEMPORAL INSTABILITY, AND DYNAMIC INCONSISTENCY IN DENMARK: A LONGITUDINAL FIELD EXPERIMENT Open
Claims that individuals have dynamically inconsistent preferences are usually made by studying individual discount rates over different time delays, but where those discount rates are elicited at a single point in time. However, to test dy…
View article: Cumulative Prospect Theory in the Laboratory: A Reconsideration
Cumulative Prospect Theory in the Laboratory: A Reconsideration Open
We take Cumulative Prospect Theory (CPT) seriously by rigorously estimating structural models using the full set of CPT parameters. Much of the literature only estimates a subset of CPT parameters, or more simply assume CPT parameter value…
View article: Models of Risk Preferences: Descriptive and Normative Challenges
Models of Risk Preferences: Descriptive and Normative Challenges Open
Behavioural economists have developed alternatives to Expected Utility Theory as descriptive and normative models of risk preferences. One popular view is that these alternative descriptive models are generally better descriptively, but th…
View article: Three Essays on Experimental Economics and Individual Decision Making Under Risk
Three Essays on Experimental Economics and Individual Decision Making Under Risk Open
The dissertation looks at three topics that involve experimental economics methods or individual decision making under risk: how do people make educational decisions when facing the risk of drop out; which models best characterize individu…
View article: Subjective beliefs and economic preferences during the COVID-19 pandemic
Subjective beliefs and economic preferences during the COVID-19 pandemic Open
The COVID-19 pandemic presents a remarkable opportunity to put to work all of the research that has been undertaken in past decades on the elicitation and structural estimation of subjective belief distributions as well as preferences over…
View article: A case study of an experiment during the COVID-19 pandemic: online elicitation of subjective beliefs and economic preferences
A case study of an experiment during the COVID-19 pandemic: online elicitation of subjective beliefs and economic preferences Open
We convey our experiences developing and implementing an online experiment to elicit subjective beliefs and economic preferences. The COVID-19 pandemic and associated closures of our laboratories required us to conduct an online experiment…
View article: Behavioral Welfare Economics and Risk Preferences: A Bayesian Approach
Behavioral Welfare Economics and Risk Preferences: A Bayesian Approach Open
We propose the use of Bayesian estimation of risk preferences of individuals for applications of behavioral welfare economics to evaluate observed choices that involve risk.Bayesian estimation provides more systematic control of the use of…
View article: The Risk of Gambling Problems in the General Population: A Reconsideration
The Risk of Gambling Problems in the General Population: A Reconsideration Open
We examine the manner in which the population prevalence of disordered gambling has usually been estimated, on the basis of surveys that suffer from a potential sample selection bias. General population surveys screen respondents using see…
View article: Risk Attitudes, Sample Selection, and Attrition in a Longitudinal Field Experiment
Risk Attitudes, Sample Selection, and Attrition in a Longitudinal Field Experiment Open
We evaluate the temporal stability of risk preferences using a remarkable data set that combines sociodemographic information from the Danish Civil Registry with information on risk attitudes from a longitudinal field experiment. Our econo…
View article: Replication data for: "Risk Attitudes, Sample Selection and Attrition in a Longitudinal Field Experiment"
Replication data for: "Risk Attitudes, Sample Selection and Attrition in a Longitudinal Field Experiment" Open
Harrison, Glenn W., Lau, Morten I., and Yoo, Hong II, (2020) "Risk Attitudes, Sample Selection, and Attrition in a Longitudinal Field Experiment." Review of Economics and Statistics 102:3, 552–568.
View article: HarrisonLauYoo_2019_REStat_README-1.pdf
HarrisonLauYoo_2019_REStat_README-1.pdf Open
README
View article: HarrisonLauYoo_2019_REStat_README.pdf
HarrisonLauYoo_2019_REStat_README.pdf Open
README
View article: Risk Preferences, Time Preferences, and Smoking Behavior
Risk Preferences, Time Preferences, and Smoking Behavior Open
There is a rich theoretical literature in economics which models habit‐forming behaviors, of which addiction is the exemplar, but there is a paucity of experimental economic studies eliciting and comparing the preferences that economic the…
View article: Do People Bundle Sequences of Choices?: An Experimental Investigation
Do People Bundle Sequences of Choices?: An Experimental Investigation Open
Economists and psychologists have sought to model and explain both impulsive behavior and the costly but often successful mechanisms by which people control it. Ainslie [1975][1992][2001] suggests that self-control is often achieved on acc…
View article: Asset Integration and Attitudes toward Risk: Theory and Evidence
Asset Integration and Attitudes toward Risk: Theory and Evidence Open
We provide evidence that choices over small stakes bets are consistent with assumptions of some payoff calibration paradoxes. We then exploit the existence of detailed information on individual wealth of our experimental subjects in Denmar…
View article: Smoking and Intertemporal Risk Attitudes
Smoking and Intertemporal Risk Attitudes Open
Atemporal risk preferences, time preferences, and intertemporal risk preferences are central to economic explanations of addiction, but have received little attention in the experimental economic literature on substance use. We conduct an …
View article: Eye-Tracking and Economic Theories of Choice Under Risk
Eye-Tracking and Economic Theories of Choice Under Risk Open
We examine the ability of eye movement data to help understand the determinants of decision making over risky prospects. We start with structural models of choice under risk, and use that structure to inform what we identify from the use o…
View article: Behavioral responses to surveys about nicotine dependence
Behavioral responses to surveys about nicotine dependence Open
Behavioral responses to surveys can significantly affect inferences about population prevalence unless correctly modeled statistically. An important case study is the prevalence of nicotine dependence, a formal psychiatric disorder satisfy…
View article: Replication data for: "Asset Integration and Attitudes toward Risk: Theory and Evidence"
Replication data for: "Asset Integration and Attitudes toward Risk: Theory and Evidence" Open
Replication data for: "Asset Integration and Attitudes toward Risk: Theory and Evidence"
View article: Small stakes risk aversion in the laboratory: A reconsideration
Small stakes risk aversion in the laboratory: A reconsideration Open
Evidence of risk aversion in laboratory settings over small stakes leads to a priori implausible levels of risk aversion over large stakes under certain assumptions. One core assumption in statements of this calibration puzzle is that smal…
View article: Disordered Gambling Prevalence: Methodological Innovations in a General Danish Population Survey
Disordered Gambling Prevalence: Methodological Innovations in a General Danish Population Survey Open
We study Danish adult gambling behavior with an emphasis on discovering patterns relevant to public health forecasting and economic welfare assessment of policy. Methodological innovations include measurement of formative in addition to re…
View article: Information Characteristics and Errors in Expectations: Experimental Evidence
Information Characteristics and Errors in Expectations: Experimental Evidence Open
We design an experiment to test the hypothesis that, in violation of Bayes’ rule, some people respond more forcefully to the strength of information than to its weight. We provide incentives to motivate effort, use naturally occurring info…
View article: Asset Integration and Attitudes to Risk -- Theory and Evidence DATA ARCHIVE.tar
Asset Integration and Attitudes to Risk -- Theory and Evidence DATA ARCHIVE.tar Open
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