TY - JOUR
T1 - Linking measured risk aversion to individual characteristics
AU - Hartog, Joop
AU - Ferrer-i-Carbonell, Ada
AU - Jonker, Nicole
N1 - Copyright:
Copyright 2018 Elsevier B.V., All rights reserved.
PY - 2002
Y1 - 2002
N2 - From the stated price of a specified lottery in three unrelated surveys we deduce individuals' Arrow Pratt measure of risk aversion. We find that risk aversion indeed falls with income and wealth. Entrepreneurs are less risk averse than employees, civil servants are more risk averse than private sector employees, and women are more risk averse than men. A simple lottery question appears a promising survey instrument to explore risk attitude and its relation to personal characteristics.
AB - From the stated price of a specified lottery in three unrelated surveys we deduce individuals' Arrow Pratt measure of risk aversion. We find that risk aversion indeed falls with income and wealth. Entrepreneurs are less risk averse than employees, civil servants are more risk averse than private sector employees, and women are more risk averse than men. A simple lottery question appears a promising survey instrument to explore risk attitude and its relation to personal characteristics.
UR - http://www.scopus.com/inward/record.url?scp=0036182204&partnerID=8YFLogxK
U2 - 10.1111/1467-6435.00175
DO - 10.1111/1467-6435.00175
M3 - Article
AN - SCOPUS:0036182204
SN - 0023-5962
VL - 55
SP - 3
EP - 26
JO - Kyklos
JF - Kyklos
IS - 1
ER -