Essec\Faculty\Model\Contribution {#2216
  #_index: "academ_contributions"
  #_id: "12216"
  #_source: array:26 [
    "id" => "12216"
    "slug" => "how-serious-is-the-measurement-error-problem-in-a-popular-risk-aversion-task"
    "yearMonth" => "2019-09"
    "year" => "2019"
    "title" => "How Serious is the Measurement-Error Problem in a Popular Risk-Aversion Task?"
    "description" => "PEREZ, F., HOLLARD, G., VRANCEANU, R. et DUBART, D. (2019). <i>How Serious is the Measurement-Error Problem in a Popular Risk-Aversion Task?</i> WP1911, ESSEC Business School."
    "authors" => array:4 [
      0 => array:3 [
        "name" => "VRANCEANU Radu"
        "bid" => "B00000524"
        "slug" => "vranceanu-radu"
      ]
      1 => array:1 [
        "name" => "PEREZ Fabien"
      ]
      2 => array:1 [
        "name" => "HOLLARD Guillaume"
      ]
      3 => array:1 [
        "name" => "DUBART Delphine"
      ]
    ]
    "ouvrage" => ""
    "keywords" => []
    "updatedAt" => "2021-09-24 10:33:27"
    "publicationUrl" => null
    "publicationInfo" => array:3 [
      "pages" => null
      "volume" => null
      "number" => null
    ]
    "type" => array:2 [
      "fr" => "Documents de travail"
      "en" => "Working Papers"
    ]
    "support_type" => array:2 [
      "fr" => "Editeur"
      "en" => "Publisher"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => "This paper uses the test/retest data from the Holt and Laury (2002) experiment to  provide estimates of the measurement error in this popular risk-aversion task. Maximum- likelihood estimation suggests that the variance of the measurement error is approxi- mately equal to the variance of the number of safe choices. Simulations confirm that the  coefficient on the risk measure in univariate OLS regressions is approximately half of its  true value. Unlike measurement error, the discrete transformation of continuous risk- aversion is not a major issue. We discuss the merits of a number of different solutions:  increasing the number of observations, IV and the ORIV method developed by Gillen et al. (2019)."
      "en" => "This paper uses the test/retest data from the Holt and Laury (2002) experiment to  provide estimates of the measurement error in this popular risk-aversion task. Maximum- likelihood estimation suggests that the variance of the measurement error is approxi- mately equal to the variance of the number of safe choices. Simulations confirm that the  coefficient on the risk measure in univariate OLS regressions is approximately half of its  true value. Unlike measurement error, the discrete transformation of continuous risk- aversion is not a major issue. We discuss the merits of a number of different solutions:  increasing the number of observations, IV and the ORIV method developed by Gillen et al. (2019)."
    ]
    "authors_fields" => array:2 [
      "fr" => "Systèmes d’Information, Sciences de la Décision et Statistiques"
      "en" => "Information Systems, Decision Sciences and Statistics"
    ]
    "indexedAt" => "2024-12-22T01:21:46.000Z"
    "docTitle" => "How Serious is the Measurement-Error Problem in a Popular Risk-Aversion Task?"
    "docSurtitle" => "Working Papers"
    "authorNames" => "<a href="/cv/vranceanu-radu">VRANCEANU Radu</a>, PEREZ Fabien, HOLLARD Guillaume, DUBART Delphine"
    "docDescription" => "<span class="document-property-authors">VRANCEANU Radu, PEREZ Fabien, HOLLARD Guillaume, DUBART Delphine</span><br><span class="document-property-authors_fields">Information Systems, Decision Sciences and Statistics</span> | <span class="document-property-year">2019</span>"
    "keywordList" => ""
    "docPreview" => "<b>How Serious is the Measurement-Error Problem in a Popular Risk-Aversion Task?</b><br><span>2019-09 | Working Papers </span>"
    "docType" => "research"
    "publicationLink" => "<a href="#" target="_blank">How Serious is the Measurement-Error Problem in a Popular Risk-Aversion Task?</a>"
  ]
  +lang: "en"
  +"_type": "_doc"
  +"_score": 7.884241
  +"parent": null
}