What are the Limitations of the Standard Gamble Technique?
While the SG technique is valuable, it has several limitations:
Complexity: The technique can be complex for participants to understand, particularly when dealing with probabilities. Bias: Results can be influenced by how the questions are framed, leading to potential bias. Hypothetical Nature: Since the scenarios are hypothetical, they may not accurately reflect real-world decision-making. Risk Aversion: Individuals' risk aversion can skew the results, as some may prefer to avoid the gamble regardless of the probabilities.
