Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/66905 
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dc.contributor.authorVieider, Ferdinand M.en
dc.contributor.authorChmura, Thorstenen
dc.contributor.authorMartinsson, Peteren
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.en
dc.language.isoengen
dc.publisher|aWissenschaftszentrum Berlin für Sozialforschung (WZB) |cBerlinen
dc.relation.ispartofseries|aWZB Discussion Paper |xSP II 2012-401en
dc.subject.jelD01en
dc.subject.jelD03en
dc.subject.jelD81en
dc.subject.jelE02en
dc.subject.jelO10en
dc.subject.jelO11en
dc.subject.jelO12en
dc.subject.ddc330en
dc.subject.keywordrisk attitudesen
dc.subject.keywordcultural comparisonen
dc.subject.keywordeconomic growthen
dc.subject.keywordcomparative developmenten
dc.titleRisk attitudes, development, and growth: Macroeconomic evidence from experiments in 30 countries-
dc.typeWorking Paperen
dc.identifier.ppn73144728Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:wzbrad:SPII2012401en

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