English, Article, Journal or magazine article edition: Who really wants to be a millionaire? Estimates of risk aversion from gameshow data Gauthier Lanot; Roger Hartley; Ian Walker

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/72700
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Who Really Wants to be a Millionaire? Estimates of Risk Aversion from Gameshow Data
Author
  • Gauthier Lanot
  • Roger Hartley
  • Ian Walker
Physical Description
  • preprint
Notes
  • RePEc:ucd:wpaper:200607
  • This paper analyses the behaviour of TV gameshow contestants to estimate risk aversion. We are able to show that the gameshow participants are broadly representative of the population as a whole. The gameshow has a number of features that makes it well suited for our analysis: the format is extremely straightforward, it involves no strategic decision-making, we have a large number of observations, and the prizes are cash and paid immediately, and cover a large range - from £100 up to £1 million. Even though the CRRA model is extremely restrictive we find that a coefficient or relative risk aversion which is close to unity fits the data across a wide range of wealth remarkably well.
  • Risk aversion, gameshow
  • RePEc:kee:kerpuk:2006/​07
Language
  • English
Contributed by
OAIster

Get this edition

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment