This case demonstrates the assessment of risk attitude through a hands-on experiment. It invites the participant to measure his/her own risk tolerance using a computer tool, then use the output of the process to prescribe a decision, and critically discuss the results. The necessary computer files are attached.
ASSES software is available on demand.
1. Demonstrate one or several standard methods for the measurement of risk attitude. 2. Illustrate the use of the Risk Tolerance coefficient on a simple example. 3. Develop a critical appraisal of the merits of this versus alternative approaches to risk evaluation.
- Risk Attitude
- Risk Evaluation
- Decision Making
- Decision Analysis Software
- Preference Elicitation