Holt–Laury Risk Preference Task
Frequently Asked Questions
Have another question? Let us know.
What does this task measure?
It estimates risk aversion by asking you to choose between paired lotteries as the probability of the high payoff increases.
How should I make choices?
On each row, select option A or B according to your preference given the stated probabilities and payoffs.
What are Switch Row and Consistency?
Switch Row is the first row where you switch to the riskier option; Consistency reflects whether choices change in a monotonic direction.
Can I export my data?
Yes. Use the export buttons to save JSON or download CSV with metrics and your full choice history.
About the payoffs
Payoffs follow the original Holt & Laury (2002) table scaled ×10 (e.g., $2.00/$1.60 appear as 20/16, and $3.85/$0.10 as 38/1 after rounding). This is a demonstration with hypothetical incentives: no real payment is made.
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References
- Holt, C. A., & Laury, S. K. (2002). Risk aversion and incentive effects. American Economic Review, 92(5), 1644-1655.
- Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47(2), 263-291. 10.2307/1914185
- Harrison, G. W., Johnson, E., McInnes, M. M., & Rutström, E. E. (2005). Risk aversion and incentive effects: Comment. American Economic Review, 95(3), 897-901. 10.1257/0002828054201378
About This Experiment
This experiment is an educational adaptation for demonstration purposes. It is not a clinical diagnostic tool. Results reflect your performance in this specific session and should not be interpreted as an assessment of your cognitive abilities.
Data Privacy
Your experiment data is processed and stored locally in your browser. No data is uploaded to any server unless you explicitly export it.
