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
-
Englisch
- Bibliographic citation
-
Series: CESifo Working Paper ; No. 7546
- 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)
-
Center for Economic Studies and ifo Institute (CESifo)
- (where)
-
Munich
- (when)
-
2019
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
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
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2019
Other Objects (12)
Risk aversion, patience and intelligence: Evidence based on macro data
Labor market deregulation and globalization: empirical evidence from OECD countries
Parties Matter in Allocating Expenditures : Evidence from Germany
Political Effects on the Allocation of Public Expenditures : Empirical Evidence from OECD Countries
Social Expenditures as a Political Cue Ball? OECD Countries under Examination
The timing of employment breaks : how does it affect pension benefits? Empirical evidence from Germany
Does Public Sector Outsourcing Decrease Public Employment? Empirical Evidence from OECD Countries
Globalisierung und Arbeitsmarktinstitutionen
Dragnet-Controls and Government Ideology
Political Effects on the Allocation of Public Expenditures: Empirical Evidence from OECD Countries
Dragnet-Controls and Government Ideology
The Globalisation-Welfare State Nexus: Evidence from Asia
Risk aversion, patience and intelligence: Evidence based on macro data
Labor market deregulation and globalization: empirical evidence from OECD countries
Parties Matter in Allocating Expenditures : Evidence from Germany
Political Effects on the Allocation of Public Expenditures : Empirical Evidence from OECD Countries
Social Expenditures as a Political Cue Ball? OECD Countries under Examination
The timing of employment breaks : how does it affect pension benefits? Empirical evidence from Germany
Does Public Sector Outsourcing Decrease Public Employment? Empirical Evidence from OECD Countries
Globalisierung und Arbeitsmarktinstitutionen
Dragnet-Controls and Government Ideology
Political Effects on the Allocation of Public Expenditures: Empirical Evidence from OECD Countries
Dragnet-Controls and Government Ideology
The Globalisation-Welfare State Nexus: Evidence from Asia
Risk aversion, patience and intelligence: Evidence based on macro data
Labor market deregulation and globalization: empirical evidence from OECD countries
Parties Matter in Allocating Expenditures : Evidence from Germany
Political Effects on the Allocation of Public Expenditures : Empirical Evidence from OECD Countries
Social Expenditures as a Political Cue Ball? OECD Countries under Examination
The timing of employment breaks : how does it affect pension benefits? Empirical evidence from Germany
Does Public Sector Outsourcing Decrease Public Employment? Empirical Evidence from OECD Countries
Globalisierung und Arbeitsmarktinstitutionen
Dragnet-Controls and Government Ideology
Political Effects on the Allocation of Public Expenditures: Empirical Evidence from OECD Countries
Dragnet-Controls and Government Ideology