Table 1 Holt and Laury (HL) task according to Holt and Laury (2002)
From: What is your discount rate? Experimental evidence of foresters’ risk and time preferences
Row | Lottery A | Lottery B | Difference between | Range of constant | |||
|---|---|---|---|---|---|---|---|
Chance of | Please choose one | Chance of | the expected values | relative risk aversion | |||
gaining | lottery in each row | gaining | (EUR)a,b | if switching in this rowa,c | |||
EUR | EUR | EUR | EUR | ||||
180.00 | 144.00 | 346.50 | 9.00 | ||||
1 | 10% | 90% | A \(\square \) \(\square \) B | 10% | 90% | 104.85 | \(-\,\infty \le \textit {r} <- 1.71\) |
2 | 20% | 80% | A \(\square \) \(\square \) B | 20% | 80% | 74.70 | − 1.71 ≤r < − 0.95 |
3 | 30% | 70% | A \(\square \) \(\square \) B | 30% | 70% | 44.55 | − 0.95 ≤r < − 0.49 |
4 | 40% | 60% | A \(\square \) \(\square \) B | 40% | 60% | 14.4 | − 0.49 ≤r < − 0.15 |
5 | 50% | 50% | A \(\square \) \(\square \) B | 50% | 50% | − 15.75 | − 0.15 ≤r < 0.14 |
6 | 60% | 40% | A \(\square \) \(\square \) B | 60% | 40% | − 45.90 | 0.14 ≤r < 0.41 |
7 | 70% | 30% | A \(\square \) \(\square \) B | 70% | 30% | − 76.05 | 0.41 ≤r < 0.68 |
8 | 80% | 20% | A \(\square \) \(\square \) B | 80% | 20% | − 106.20 | 0.68 ≤r < 0.97 |
9 | 90% | 10% | A \(\square \) \(\square \) B | 90% | 10% | − 136.35 | 0.97 ≤r < 1.37 |
10 | 100% | 0% | A \(\square \) \(\square \) B | 100% | 0% | − 166.50 | \(1.37 \le \textit {r} \le \infty \) |