Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/66905
Full metadata record
DC FieldValueLanguage
dc.contributor.authorVieider, Ferdinand M.en_US
dc.contributor.authorChmura, Thorstenen_US
dc.contributor.authorMartinsson, Peteren_US
dc.date.accessioned2012-11-28T11:59:36Z-
dc.date.available2012-11-28T11:59:36Z-
dc.date.issued2012-
dc.identifier.urihttp://hdl.handle.net/10419/66905-
dc.description.abstractWe measure risk attitudes in 30 different countries in a controlled, incentivized experiment (N = 3025). At the macroeconomic level, we find a strong and highly significant negative correlation between the risk tolerance of a country and income per capita. This gives rise to a paradox, seen that risk tolerance has been found to be positively associated with personal income within countries. We show that this paradox can be explained by unified growth theory. These results are consistent with the prediction that risk attitudes act as a transmission mechanism for growth by encouraging entrepreneurship. Furthermore, our study shows that risk attitudes vary considerably between countries and that for typical experimental stakes, risk seeking or neutrality is just as frequent as risk aversion.-
dc.language.isoengen_US
dc.publisher|aWissenschaftszentrum Berlin für Sozialforschung (WZB) |cBerlin-
dc.relation.ispartofseries|aWZB Discussion Paper |xSP II 2012-401en_US
dc.subject.jelD01en_US
dc.subject.jelD03en_US
dc.subject.jelD81en_US
dc.subject.jelE02en_US
dc.subject.jelO10en_US
dc.subject.jelO11en_US
dc.subject.jelO12en_US
dc.subject.ddc330en_US
dc.subject.keywordrisk attitudesen_US
dc.subject.keywordcultural comparisonen_US
dc.subject.keywordeconomic growthen_US
dc.subject.keywordcomparative developmenten_US
dc.titleRisk attitudes, development, and growth: Macroeconomic evidence from experiments in 30 countriesen
dc.typeWorking Paperen_US
dc.identifier.ppn73144728X-
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:wzbrad:SPII2012401-

Files in This Item:
File
Size
848.8 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.