Arbeitspapier
Risk aversion, patience and intelligence: Evidence based on macro data
Using the new macro data on risk aversion and patience by Falk et al. (2018), I show that risk aversion and patience are related to intelligence: high-IQ populations are more patient and more risk averse than low-IQ populations. The correlation between patience and intelligence corroborates previous results based on micro data. Intelligent people tend to be patient because they have long time horizons. The correlation between risk aversion and intelligence supports new micro data studies based on dynamically optimized sequential experimentation (Chapman et al. 2018).
- Language
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Englisch
- Bibliographic citation
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Series: ifo Working Paper ; No. 295
- Classification
-
Wirtschaft
Microeconomics: General
Criteria for Decision-Making under Risk and Uncertainty
Micro-Based Behavioral Economics: General‡
- Subject
-
Risk aversion
patience
intelligence
- Event
-
Geistige Schöpfung
- (who)
-
Potrafke, Niklas
- Event
-
Veröffentlichung
- (who)
-
ifo Institute - Leibniz Institute for Economic Research at the University of Munich
- (where)
-
Munich
- (when)
-
2019
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Potrafke, Niklas
- ifo Institute - Leibniz Institute for Economic Research at the University of Munich
Time of origin
- 2019
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