Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/64845 
Full metadata record
Appears in Collections:
DC FieldValueLanguage
dc.contributor.authorBarseghyan, Levonen
dc.contributor.authorMolinari, Francescaen
dc.contributor.authorO'Donoghue, Teden
dc.contributor.authorTeitelbaum, Joshua C.en
dc.date.accessioned2012-09-26-
dc.date.accessioned2012-10-11T15:55:38Z-
dc.date.available2012-10-11T15:55:38Z-
dc.date.issued2012-
dc.identifier.urihttp://hdl.handle.net/10419/64845-
dc.description.abstractWe use data on insurance deductible choices to estimate a structural model of risky choice that incorporates standard risk aversion (diminishing marginal utility for wealth) and probability distortions. We find that probability distortions - characterized by substantial overweighting of small probabilities and only mild insensitivity to probability changes - play an important role in explaining the aversion to risk manifested in deductible choices. This finding is robust to allowing for observed and unobserved heterogeneity in preferences. We demonstrate that neither Kõszegi-Rabin loss aversion alone nor Gul disappointment aversion alone can explain our estimated probability distortions, signifying a key role for probability weighting.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x3933en
dc.subject.jelD01en
dc.subject.jelD03en
dc.subject.jelD12en
dc.subject.jelD81en
dc.subject.jelG22en
dc.subject.ddc330en
dc.subject.stwRisikopräferenzen
dc.subject.stwVersicherungen
dc.subject.stwSelbstbeteiligungen
dc.subject.stwKonsumentenverhaltenen
dc.subject.stwSchätzungen
dc.subject.stwUSAen
dc.titleThe nature of risk preferences: Evidence from insurance choices-
dc.typeWorking Paperen
dc.identifier.ppn726461652en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

Files in This Item:
File
Size
514.59 kB





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