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Title:Attitudes toward uncertainty among the poor: evidence from rural Ethiopia PDF Logo
Authors:Akay, Alpaslan
Martinsson, Peter
Medhin, Haileselassie
Trautmann, Stefan T.
Issue Date:2009
Series/Report no.:IZA discussion papers 4225
Abstract:We looked at risk and ambiguity attitudes among Ethiopian peasants in one of the poorest regions of the world and compared their attitudes to a standard Western university student sample elicited by the same decision task. Strong risk aversion and ambiguity aversion were found with the Ethiopian peasants. Ambiguity aversion was similar for peasants and students, but peasants were more risk averse. Testing for the effect of socio-economic variables on uncertainty attitudes showed that poor health increased both risk and ambiguity aversion.
Subjects:Risk attitudes
ambiguity attitudes
poverty
cultural differences
JEL:D81
C93
O12
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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