Table 2 Holt and Laury scheme ( 2002 )... | Emerald Publishing

Table 2

Holt and Laury scheme (2002) adapted from Alexy et al. (2016)

Number of safe choices	r (min)	r (max)	Risk preference classification
0	<	−1.712820	Highly risk loving
1	−1.712820	−0.946837	Highly risk loving
2	−0.946837	−0.486575	Very risk loving
3	−0.486575	−0.142632	Risk loving
4	−0.142632	0.146363	Risk neutral
5	0.146363	0.411456	Slightly risk averse
6	0.411456	0.676180	Risk averse
7	0.676180	0.970581	Very risk averse
8	0.970581	1.368390	Highly risk averse
9	1.368390	<	Stay in bed
10	–	–	Non-applicable

Number of safe choices	r (min)	r (max)	Risk preference classification
0	<	−1.712820	Highly risk loving
1	−1.712820	−0.946837	Highly risk loving
2	−0.946837	−0.486575	Very risk loving
3	−0.486575	−0.142632	Risk loving
4	−0.142632	0.146363	Risk neutral
5	0.146363	0.411456	Slightly risk averse
6	0.411456	0.676180	Risk averse
7	0.676180	0.970581	Very risk averse
8	0.970581	1.368390	Highly risk averse
9	1.368390	<	Stay in bed
10	–	–	Non-applicable

Source(s): Authors' own creation/work