Arbeitspapier
On a Simple Survey Measure of Individual Risk Aversion
We ask individuals for their reservation price of a specified lotteryand deduce their Arrow-Pratt measure of risk aversion.This allows direct testing of common hypotheses on risk attitudes inthree datasets. We find that risk aversion indeed fallswith income and wealth. Entrepreneurs are less risk averse thanemployees, civil servants are more risk averse thanprivate sector employees, and women are more risk averse than men. Weanalyze six different specifications of the lotteryquestion in a single data set and find quite consistent results. Weconclude that a simple lottery question is a promisingsurvey instrument to extract differences in risk attitudes amongindividuals.
- Sprache
-
Englisch
- Erschienen in
-
Series: Tinbergen Institute Discussion Paper ; No. 00-074/3
- Klassifikation
-
Wirtschaft
Criteria for Decision-Making under Risk and Uncertainty
Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
- Thema
-
Risikoaversion
Messung
Theorie
Brabant
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hartog, Joop
Ferrer-i-Carbonell, Ada
Jonker, Nicole
- Ereignis
-
Veröffentlichung
- (wer)
-
Tinbergen Institute
- (wo)
-
Amsterdam and Rotterdam
- (wann)
-
2000
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Hartog, Joop
- Ferrer-i-Carbonell, Ada
- Jonker, Nicole
- Tinbergen Institute
Entstanden
- 2000
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