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dc.contributor.authorBrunette, M.
dc.contributor.authorNgouhouo-Poufoun, J.
dc.date.accessioned2021-08-03T11:02:26Z
dc.date.available2021-08-03T11:02:26Z
dc.date.issued2021
dc.identifier.citationBrunette, M. & Ngouhouo-Poufoun, J. (2021). Are risk preferences consistent across elicitation procedures? A field experiment in Congo basin countries. The Geneva Risk and Insurance Review, 1-19.
dc.identifier.issn1554-964X
dc.identifier.urihttps://hdl.handle.net/20.500.12478/7197
dc.description.abstractWe compare individual risk preferences elicited through a classic Ordered Lottery Selection (OLS) procedure with five gambles, and an extended procedure composed of nine gambles. The research question is about the consistency of the risk preferences across these two elicitation variants. We implemented a field experiment with 1002 rural households in the Congo Basin from December 2013 to July 2014. We show that 1/3 of the sample is extremely risk averse regardless of the procedure. We found inconsistencies in risk preferences elicited across procedures. Indeed, 45.71% are characterized by inconsistency of preferences, either weak (34.53%) or strong (11.18%); 42.81% of the sample exhibits consistent preferences and the remaining 11.48% of the sample - initially risk neutral in the classic procedure - is classified as risk loving in the extended procedure. Undereducation can be seen as the main driver of the strong inconsistency since the incremental change brought about by the attainment of secondary school on the likelihood to remain consistent is ten times greater than the other considered drivers.
dc.description.sponsorshipRisk Aversion, Livelihoods and Ecosystem Services Provisioning and Deforestation in Multifunctional Landscape
dc.description.sponsorshipFrench National Research Agency
dc.description.sponsorshipNorwegian Agency for Development Cooperation
dc.format.extent1-19
dc.language.isoen
dc.subjectRisk
dc.subjectField Experiments
dc.subjectLivelihoods
dc.subjectHouseholds
dc.subjectRural Communities
dc.titleAre risk preferences consistent across elicitation procedures? A field experiment in Congo basin countries
dc.typeJournal Article
cg.contributor.affiliationUniversité de Lorraine
cg.contributor.affiliationInternational Institute of Tropical Agriculture
cg.coverage.regionAfrica
cg.coverage.regionCentral Africa
cg.coverage.countryRepublic of the Congo
cg.coverage.hubCentral Africa Hub
cg.identifier.bibtexciteidBRUNETTE:2021
cg.isijournalISI Journal
cg.authorship.typesCGIAR and advanced research institute
cg.iitasubjectAgronomy
cg.iitasubjectLivelihoods
cg.iitasubjectSmallholder Farmers
cg.journalGeneva Risk and Insurance Review
cg.notesPublished online: 08 Mar 2021
cg.accessibilitystatusLimited Access
cg.reviewstatusPeer Review
cg.usagerightslicenseCopyrighted; all rights reserved
cg.targetaudienceScientists
cg.identifier.doihttps://dx.doi.org/10.1057/s10713-021-00062-7
cg.futureupdate.descriptionAttachment of Pdf
cg.futureupdate.requiredYes
cg.futureupdate.duration3 Months


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