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dc.contributor.authorvon Gaudecker, Hans-Martinen
dc.contributor.authorvan Soest, Arthuren
dc.contributor.authorWengström, Eriken
dc.date.accessioned2009-03-10-
dc.date.accessioned2010-07-07T11:53:15Z-
dc.date.available2010-07-07T11:53:15Z-
dc.date.issued2009-
dc.identifier.piurn:nbn:de:101:1-20090304791en
dc.identifier.urihttp://hdl.handle.net/10419/35555-
dc.description.abstractWe 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
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x4022en
dc.subject.jelC90en
dc.subject.jelD81en
dc.subject.ddc330en
dc.subject.keywordRisk aversionen
dc.subject.keywordloss aversionen
dc.subject.keyworduncertainty resolutionen
dc.subject.keywordfield experimentsen
dc.subject.stwRisikopräferenzen
dc.subject.stwEntscheidung bei Unsicherheiten
dc.subject.stwTesten
dc.subject.stwNiederlandeen
dc.titleHeterogeneity in risky choice behaviour in a broad population-
dc.type|aWorking Paperen
dc.identifier.ppn593411110en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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