I am in the process of performing a scientific economic research concerning real-world risk aversion of individual people, for example investors on stock market or players of blackjack. I would like to make a pool amongst experienced blackjack players concerning their risk aversion. Any personal data will be strictly confidential. Anonymous response is welcome. I would very much appreciate answers e-mailed to [email protected]. (Posting here is also fine although it would not be anonymous.)

Concerning the risk aversion, please read the post ?Optimal bet sizing? under the ?Calculating ROR given Kelly fraction $p$? on the Theory & Math page. I am interested in the questions of

1) Used Kelly fraction given a defined bankroll for the player.
2) What proportion of player?s entire investment wealth is the starting bankroll. The entire investment wealth includes also illiquid assets, it is not just available cash-on-hand, however, one should subtract some necessary living expenses. In case the player has another job, nothing needs to be subtracted, and in fact some discounted portion of the current and future job income, excess of living expenses, should be added. I understand that the definition is perhaps somewhat vague, but an approximate estimate is fully sufficient. I?ll be happy to explain any details.
3) Due to practical constraints a pro player may be limited with the unit size, even though a higher unit size would be desired. In this case, please let me know if the desired unit size should be for example twice as large, since this is the relevant reference point for measuring risk aversion.

Note that all the numbers may be in relative terms, i.e., I do not need to know the actual absolute values.

I would like to thank in advance to all participants in this study. The results will be used solely for academic research purposes, measuring and estimating the proper risk aversion coefficient.

Sincerely,

Karel Janecek