State Dependent Valuation: The Effect of Deprivation on Risk Preferences
Figure 5
A) Standard deviation (STD) in the non-parametric approach. B) Standard deviation in the EUT approach. The average standard errors of the distributions across subjects of the proportion to choose the lottery option (A) and the fitted risk parameters (B) for all reward types in both states. A lower average standard error demonstrates convergence towards a similar value and lower variance in the deprived condition. For comparing the averages and conducting a significance test, we bootstrapped the standard errors across subjects for all reward types in each state. Note that the data represents mean ± STD (and not s.e.m.). *** p<0.0001.