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In the past decade, it has become common to use simple laboratory games and decision tasks as a device for measuring risk preferences in the developing world. In this paper, we build on existing taxonomies for risk-elicitation and discuss pros and cons of using such methods in developing-country contexts. We use three distinct riskelicitation mechanisms (the Holt–Laury task, the Gneezy–Potters mechanism, and a non-incentivized willingness-to-risk scale) and subjects from rural Senegal. Our study provides some guidance to researchers wishing to use risk-elicitation mechanisms in the rural developing world.
Keywords:
Risk-elicitation,
Laboratory experiments in the field,
Comprehension,
Rural Senegal,
B49,
C91,
C93,
O13,
O20
© 2016 G. Charness and A. Viceisza
2016
G. Charness and A. Viceisza
Licensed re-use rights only
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