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dc.contributor.authorDohmen, Thomasen
dc.contributor.authorFalk, Arminen
dc.contributor.authorHuffman, Daviden
dc.contributor.authorSunde, Uween
dc.date.accessioned2009-05-12-
dc.date.accessioned2009-07-28T08:49:36Z-
dc.date.available2009-07-28T08:49:36Z-
dc.date.issued2009-
dc.identifier.urihttp://hdl.handle.net/10419/26665-
dc.description.abstractThis paper investigates whether risk aversion and impatience are correlated with cognitive ability. We conduct incentive compatible choice experiments measuring risk aversion, and impatience over an annual time horizon, for a representative sample of roughly 1,000 German adults. A measure of cognitive ability is provided by two submodules of one of the most widely used IQ tests. Interviews are conducted in subjects' own homes. We find that lower cognitive ability is associated with greater risk aversion, and more pronounced impatience. These relationships are statistically and economically significant, and robust to controlling for personal characteristics, educational attainment, income, and measures of liquidity constraints. We perform a series of additional robustness checks, which help rule out other possible confounds.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x2620en
dc.subject.jelC93en
dc.subject.jelD01en
dc.subject.jelD80en
dc.subject.jelD90en
dc.subject.jelJ24en
dc.subject.jelJ62en
dc.subject.ddc330en
dc.subject.keywordrisk preferenceen
dc.subject.keywordtime preferenceen
dc.subject.keywordcognitive abilityen
dc.subject.keywordfield experimenten
dc.subject.stwVerhaltenen
dc.subject.stwRisikopräferenzen
dc.subject.stwKognitionen
dc.subject.stwBildungsniveauen
dc.subject.stwDeutschlanden
dc.titleAre risk aversion and impatience related to cognitive ability?-
dc.typeWorking Paperen
dc.identifier.ppn599569492en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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