Data on risk preferences and risk literacy for a sample of German agricultural sciences students

Abstract

The data presented here contains information on risk preferences, risk literacy and personal characteristics collected from 244 German agricultural sciences students in an online survey in 2015. Two different risk preference elicitation methods have been used. First, we used an iterative multiple price list (iMPL). Second, a simple self-assessment of risk preferences was used. Moreover, we used two different frames of the iMPL (general and context specific). Inconsistent behavior within the iMPL has been documented. Finally, the dataset includes information on the participants’ risk literacy (using the Berlin Numeracy test), gender, optimism, involvement with agriculture age and mothers’ education. The data is related to the paper: Meraner M, Musshoff O, Finger R. Using involvement to reduce inconsistencies in risk preference elicitation. Journal of Behavioral and Experimental Economics. 2018 73:22–33.