{"doi":"10.3386/w28007","title":"Reconsidering Risk Aversion","abstract":"Risk aversion is typically inferred from real or hypothetical choices over risky lotteries, but such \"untutored\" choices may reflect mistakes rather than preferences. We develop a procedure to obtain a better measure of normatively relevant preferences: after eliciting untutored choices, we confront participants with their choices that are inconsistent with intertemporal-expected-utility axioms and allow them to reconsider their choices. We demonstrate this procedure via a survey about hypothetical retirement investment choices administered to 596 Cornell students. We find that, on average, reconsidered choices are more consistent with almost all axioms, with one exception related to a counterfactual reference point.","journal":"National Bureau of Economic Research","year":2020,"id":120361,"datarank":0.0,"base_score":0.0,"endowment":0.0,"self_citation_contribution":0.0,"citation_network_contribution":0.0,"self_endowment_contribution":0.0,"citer_contribution":0.0,"corpus_percentile":null,"corpus_rank":null,"citation_count":11,"citer_count":0,"citers_with_citation_signal":0,"citers_with_endowment":0,"datacite_reuse_total":0,"is_dataset":false,"is_dataset_confidence":0.9482,"is_data_producer":false,"deposit_databanks":null,"is_oa":true,"file_count":0,"downloads":0,"has_version_chain":false,"published_date":"2020-01-01","fair_score":null,"fair_percentile":null,"algorithm_id":"datarank_citation_only_1hop_v6","ranking_scope":"data_only","authors":[{"id":512091,"name":"Mark Alan Fontana","orcid":"0000-0002-0529-9035","position":1,"is_corresponding":false},{"id":557552,"name":"Miles Kimball","orcid":"0000-0002-7585-1585","position":2,"is_corresponding":false},{"id":6125,"name":"Daniel J. Benjamin","orcid":"0000-0002-2642-5416","position":0,"is_corresponding":true}],"reference_count":85,"raw_metadata":null,"created_at":"2026-07-18T23:14:33.640077Z","pmid":null,"pmcid":null,"fwci":null,"citation_percentile":null,"influential_citations":0,"oa_status":null,"license":null,"views":0,"total_file_size_bytes":0,"version_count":0,"fair_f":null,"fair_a":null,"fair_i":null,"fair_r":null,"fair_zscore":null,"fair_rationale":null,"fair_model":null,"fair_agent_version":null,"fair_fulltext_source":null,"fair_has_llm":null,"fair_computed_at":null,"clinical_trials":[],"software_tools":[],"db_accessions":[],"linked_datasets":[],"topics":[]}