Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/81353
Authors: 
Cesarini, David
Johannesson, Magnus
Lichtenstein, Paul
Sandewall, Örjan
Wallace, Björn
Year of Publication: 
2008
Series/Report no.: 
IFN Working Paper 765
Abstract: 
In this paper, we use a sample of almost 30,000 Swedish mono- and dizygotic twins to study the heritability of financial risk-taking. Following a major pension reform in the year 2000, virtually all Swedish adults had to simultaneously make a financial decision affecting post-retirement wealth. We take this event as a field experiment to infer risk preferences. We use standard techniques from behavior genetics to partition variation in risk-taking into environmental and genetic components. Our findings suggest that genetic variation is an important source of individual heterogeneity in financial risk-taking.
Subjects: 
Genetics
Risk-Taking
Portfolio Investment
Twins
JEL: 
D01
G11
Document Type: 
Working Paper

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