Question: Read the article Risk Preference: A View from Psychology by Mata et al. (2018) in the Journal of Economic Perspectives The authors talk about two

Read the article Risk Preference: A View from Psychologyby Mata et al. (2018) in the Journal of Economic Perspectives

  1. The authors talk about two different approaches measuring risk preference:A behavioral (or revealed preferences) approach, and a stated or (self-reported) approach.Briefly describe each of these two approaches.
  2. The authors discuss three different characteristics of measurements of psychological traits:temporal stability, convergent validity, and predictive validity.Briefly summarize each of these characteristics in your own words.

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