Risk-Taking Attitudes and Lottery Experiment
Risk-Taking Attitudes and Lottery Experiment

Author(s): Jozef Nemec, Tomáš Želinský, Matúš Kubák
Subject(s): Behaviorism, Evaluation research, Social Theory
Published by: Masarykova univerzita nakladatelství
Keywords: lottery game; DoSpeRT; regression;
Summary/Abstract: We carry out framed lottery game experiments with the aim to study whether economic agents behave in accordance with expected utility theory. We control for socio-economic background of the participants and we use Domain-Specific Risk-Taking [DoSpeRT) scale to detect, which of the five risk domains [ETHICAL, FINANCIAL, HEALTH, RECREATIONAL, SOCIAL) have most impact on risky behavior in a lottery game. We find out, that females are more rational than males in non-risky environment and males are more rational in a risky environment. Also, the evidence of more frequent use of risky strategy by males is found.

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