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Contribution Details
Type | Master's Thesis |
Scope | Discipline-based scholarship |
Title | Investigating Risk Perception: Evidence of Domain Dependence |
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Institution | University of Zurich |
Faculty | Faculty of Business, Economics and Informatics |
Number of Pages | 61 |
Date | 2021 |
Abstract Text | In our study we conduct an experiment with the aim of testing if risk perception is domain dependent, namely if the declared level of risk attributed to a lottery significantly depends on the fact whether we deal with a winning lottery (probability of loss: 0%) or a losing lottery (probability of gain: 0%). To do so the participants are presented with a series of four 50:50 lotteries and the levels of perceived risk are collected. We find that risk perception exhibits domain dependence. It is furthermore influenced by the probability of loss as well as by the volatility of the lottery, which, how-ever, cannot be considered the leading factor. |
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