{"id":"https://openalex.org/W2128334142","doi":"https://doi.org/10.1093/erae/jbs027","title":"Estimating risk preferences in the presence of bifurcated wealth dynamics: can we identify static risk aversion amidst dynamic risk responses?","display_name":"Estimating risk preferences in the presence of bifurcated wealth dynamics: can we identify static risk aversion amidst dynamic risk responses?","publication_year":2012,"publication_date":"2012-08-16","ids":{"openalex":"https://openalex.org/W2128334142","doi":"https://doi.org/10.1093/erae/jbs027","mag":"2128334142"},"language":"en","primary_location":{"id":"doi:10.1093/erae/jbs027","doi":"https://doi.org/10.1093/erae/jbs027","is_oa":false,"landing_page_url":"https://doi.org/10.1093/erae/jbs027","pdf_url":null,"source":{"id":"https://openalex.org/S32361082","display_name":"European Review of Agricultural Economics","issn_l":"0165-1587","issn":["0165-1587","1464-3618"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311648","host_organization_name":"Oxford University Press","host_organization_lineage":["https://openalex.org/P4310311648","https://openalex.org/P4310311647"],"host_organization_lineage_names":["Oxford University Press","University of Oxford"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"European Review of Agricultural Economics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5074314600","display_name":"Travis J. Lybbert","orcid":"https://orcid.org/0000-0002-4905-4881","observed_orcids":["https://orcid.org/0000-0002-4905-4881"]},"institutions":[{"id":"https://openalex.org/I84218800","display_name":"University of California, Davis","ror":"https://ror.org/05rrcem69","country_code":"US","type":"education","lineage":["https://openalex.org/I84218800"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"T. J. Lybbert","raw_affiliation_strings":["University of California, Davis, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of California, Davis, USA","institution_ids":["https://openalex.org/I84218800"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5036053093","display_name":"David R. Just","orcid":"https://orcid.org/0000-0002-7471-5178","observed_orcids":["https://orcid.org/0000-0002-7471-5178"]},"institutions":[{"id":"https://openalex.org/I205783295","display_name":"Cornell University","ror":"https://ror.org/05bnh6r87","country_code":"US","type":"education","lineage":["https://openalex.org/I205783295"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"D. R. Just","raw_affiliation_strings":["Cornell University, Ithaca, NY, USA","Cornell Univ, Ithaca, NY, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Cornell University, Ithaca, NY, USA","institution_ids":["https://openalex.org/I205783295"]},{"raw_affiliation_string":"Cornell Univ, Ithaca, NY, USA","institution_ids":["https://openalex.org/I205783295"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5088542979","display_name":"Christopher B. Barrett","orcid":"https://orcid.org/0000-0001-9139-2721","observed_orcids":["https://orcid.org/0000-0001-9139-2721"]},"institutions":[{"id":"https://openalex.org/I205783295","display_name":"Cornell University","ror":"https://ror.org/05bnh6r87","country_code":"US","type":"education","lineage":["https://openalex.org/I205783295"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"C. B. Barrett","raw_affiliation_strings":["Cornell University, Ithaca, NY, USA","Cornell Univ, Ithaca, NY, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Cornell University, Ithaca, NY, USA","institution_ids":["https://openalex.org/I205783295"]},{"raw_affiliation_string":"Cornell Univ, Ithaca, NY, USA","institution_ids":["https://openalex.org/I205783295"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":4487,"currency":"EUR","value_usd":5071},"apc_paid":null,"fwci":0.9943,"has_fulltext":false,"cited_by_count":13,"citation_normalized_percentile":{"value":0.77409107,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"40","issue":"2","first_page":"361","last_page":"377"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9970999956130981,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9970999956130981,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10646","display_name":"Experimental Behavioral Economics Studies","score":0.0017999999690800905,"subfield":{"id":"https://openalex.org/subfields/3311","display_name":"Safety Research"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10841","display_name":"Economic and Environmental Valuation","score":0.0006000000284984708,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/risk-aversion","display_name":"risk aversion","score":0.8600000143051147},{"id":"https://openalex.org/keywords/risk-preferences","display_name":"risk preferences","score":0.8679999709129333},{"id":"https://openalex.org/keywords/wealth-dynamics","display_name":"wealth dynamics","score":0.6129999756813049},{"id":"https://openalex.org/keywords/confounding","display_name":"confounding","score":0.6200000047683716},{"id":"https://openalex.org/keywords/attribution-bias","display_name":"attribution bias","score":0.7850000262260437},{"id":"https://openalex.org/keywords/preference-estimation","display_name":"preference estimation","score":0.49399998784065247}],"concepts":[{"id":"https://openalex.org/C129915516","wikidata":"https://www.wikidata.org/wiki/Q17083550","display_name":"Risk aversion (psychology)","level":3,"score":0.5168957710266113},{"id":"https://openalex.org/C145912823","wikidata":"https://www.wikidata.org/wiki/Q113558","display_name":"Dynamics (music)","level":2,"score":0.4125001132488251},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4094613194465637},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.2914820611476898},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.1937600076198578},{"id":"https://openalex.org/C205706631","wikidata":"https://www.wikidata.org/wiki/Q2319304","display_name":"Expected utility hypothesis","level":2,"score":0.1811654269695282},{"id":"https://openalex.org/C19417346","wikidata":"https://www.wikidata.org/wiki/Q7922","display_name":"Pedagogy","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1093/erae/jbs027","doi":"https://doi.org/10.1093/erae/jbs027","is_oa":false,"landing_page_url":"https://doi.org/10.1093/erae/jbs027","pdf_url":null,"source":{"id":"https://openalex.org/S32361082","display_name":"European Review of Agricultural Economics","issn_l":"0165-1587","issn":["0165-1587","1464-3618"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311648","host_organization_name":"Oxford University Press","host_organization_lineage":["https://openalex.org/P4310311648","https://openalex.org/P4310311647"],"host_organization_lineage_names":["Oxford University Press","University of Oxford"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"European Review of Agricultural Economics","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:oup:erevae:v:40:y:2013:i:2:p:361-377","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1093/erae/jbs027","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":44,"referenced_works":["https://openalex.org/W1588478279","https://openalex.org/W1974946041","https://openalex.org/W1975028217","https://openalex.org/W1984697146","https://openalex.org/W1986751663","https://openalex.org/W1992403182","https://openalex.org/W1995468024","https://openalex.org/W2005374015","https://openalex.org/W2014073604","https://openalex.org/W2019025561","https://openalex.org/W2019587015","https://openalex.org/W2033772453","https://openalex.org/W2040790165","https://openalex.org/W2041946752","https://openalex.org/W2043425028","https://openalex.org/W2043553350","https://openalex.org/W2046507863","https://openalex.org/W2061630123","https://openalex.org/W2075356514","https://openalex.org/W2076061365","https://openalex.org/W2078948757","https://openalex.org/W2090254582","https://openalex.org/W2093613276","https://openalex.org/W2096734231","https://openalex.org/W2124818116","https://openalex.org/W2126990542","https://openalex.org/W2129942647","https://openalex.org/W2131051935","https://openalex.org/W2141244200","https://openalex.org/W2142594557","https://openalex.org/W2143974785","https://openalex.org/W2145362887","https://openalex.org/W2148862904","https://openalex.org/W2163486788","https://openalex.org/W2170709322","https://openalex.org/W2487260080","https://openalex.org/W2611348919","https://openalex.org/W2891159187","https://openalex.org/W2891495529","https://openalex.org/W3022353042","https://openalex.org/W3123357919","https://openalex.org/W3123751859","https://openalex.org/W3124536168","https://openalex.org/W3124942334"],"related_works":["https://openalex.org/W1529503250","https://openalex.org/W2122842273","https://openalex.org/W7095150983","https://openalex.org/W2031219464","https://openalex.org/W7098445836","https://openalex.org/W2788100277","https://openalex.org/W4399083364","https://openalex.org/W581595985","https://openalex.org/W3122742708","https://openalex.org/W2013464332"],"abstract_inverted_index":{"Estimating":[0],"risk":[1,26,52,62,93,105],"preferences":[2,94],"is":[3,10,111],"tricky":[4],"because":[5],"controlling":[6,15],"for":[7,16,84,122],"confounding":[8],"factors":[9,18],"difficult.":[11],"Omitting":[12],"or":[13,42],"imperfectly":[14],"these":[17],"can":[19],"attribute":[20],"too":[21],"much":[22],"observable":[23],"behaviour":[24],"to":[25,39,77,113,116],"aversion":[27],"and":[28,72,95],"bias":[29,57],"estimated":[30],"preferences.":[31],"Agents":[32],"often":[33],"modify":[34],"risky":[35],"decisions":[36],"in":[37,58,118],"response":[38,53],"dynamic":[40,51,104],"wealth":[41,96],"asset":[43],"thresholds,":[44],"where":[45],"such":[46],"thresholds":[47],"exist.":[48],"Ignoring":[49],"this":[50,66,82],"introduces":[54],"an":[55,88],"attribution":[56],"static":[59],"estimates":[60,92],"of":[61,81],"aversion.":[63],"We":[64],"demonstrate":[65],"pitfall":[67],"using":[68],"a":[69,73],"simple":[70],"model":[71],"Monte":[74],"Carlo":[75],"simulation":[76],"explore":[78],"the":[79,100],"implications":[80],"problem":[83,101],"empirical":[85,120],"estimation.":[86],"While":[87],"approach":[89],"that":[90],"jointly":[91],"dynamics":[97],"may":[98],"remedy":[99],"by":[102],"extracting":[103],"responses":[106],"from":[107],"observed":[108],"behaviour,":[109],"it":[110],"likely":[112],"be":[114],"challenging":[115],"implement":[117],"broader":[119],"settings":[121],"reasons":[123],"we":[124],"discuss.":[125],",":[126],"Oxford":[127],"University":[128],"Press.":[129]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2016,"cited_by_count":4},{"year":2015,"cited_by_count":2},{"year":2013,"cited_by_count":2}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2016-06-24T00:00:00"}
