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Forschungsinstitut zur Zukunft der Arbeit (IZA), Bonn >
IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA) >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/35555
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | von Gaudecker, Hans-Martin | | en_US |
| dc.contributor.author | | van Soest, Arthur | | en_US |
| dc.contributor.author | | Wengström, Erik | | en_US |
| dc.date.accessioned | | 2009-03-10 | | en_US |
| dc.date.accessioned | | 2010-07-07T11:53:15Z | | - |
| dc.date.available | | 2010-07-07T11:53:15Z | | - |
| dc.date.issued | | 2009 | | en_US |
| dc.identifier.pi | | urn:nbn:de:101:1-20090304791 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/35555 | | - |
| dc.description.abstract | | We analyse risk preferences using an experiment with real incentives in a representative sample of 1,422 Dutch respondents. Our econometric model incorporates four structural parameters that vary with observed and unobserved characteristics: Utility curvature, loss aversion, preferences towards the timing of uncertainty resolution, and the propensity to choose randomly rather than on the basis of preferences. We find that all four parameters contribute to explaining choice behaviour. The structural parameters are significantly associated with socio-economic variables, but it is essential to incorporate unobserved heterogeneity in each of them to match the rich variety of choice patterns in the data. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | IZA Bonn | | en_US |
| dc.relation.ispartofseries | | IZA discussion papers 4022 | | en_US |
| dc.subject.jel | | C90 | | en_US |
| dc.subject.jel | | D81 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Risk aversion | | en_US |
| dc.subject.keyword | | loss aversion | | en_US |
| dc.subject.keyword | | uncertainty resolution | | en_US |
| dc.subject.keyword | | field experiments | | en_US |
| dc.subject.stw | | Risikopräferenz | | en_US |
| dc.subject.stw | | Entscheidung bei Unsicherheit | | en_US |
| dc.subject.stw | | Test | | en_US |
| dc.subject.stw | | Niederlande | | en_US |
| dc.title | | Heterogeneity in risky choice behaviour in a broad population | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 593411110 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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