Element.setAttribute('onclick' - Setup A Form With Radio Buttons - "Object" Is Undefined Error

I am trying to setup a form with radio buttons. Each radio button has an OnClick event. When a radiobutton is clicked the current set of radio buttons will be replaced with a new set using document.createElement("input"). Each new radio button needs the same onclick event addedas in the initial set of radio buttons. I first tried:

element.setAttribute('onclick', MyFunction(value));

This, however, will somehow automatically trigger the onclick event! I searched on the internet and found this as the solution:

var new_onclick = function() { alert("this works!"); };
element.setAttribute('onclick', new_onclick);

This will give a "Object" is undefined error!