Title

Estimating risk attitudes in Denmark: A field experiment

Authors

Authors

G. W. Harrison; M. I. Lau;E. E. Rutstrom

Comments

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Abbreviated Journal Title

Scand. J. Econ.

Keywords

risk aversion; field experiment; socio-demographic characteristics; FINANCIAL DECISION-MAKING; EXPECTED-UTILITY-THEORY; SAMPLE SELECTION; BIAS; DISCOUNT RATES; AVERSION; MODELS; ELICITATION; CALIBRATION; REWARDS; THEOREM; Economics

Abstract

We estimate individual risk attitudes using controlled experiments in the field in Denmark. The experiments were carried out across Denmark using a representative sample of 253 people between 19 and 75 years of age. Risk attitudes are estimated for various individuals differentiated by socio-demographic characteristics. Our results indicate that the average Dane is risk averse, and that risk neutrality is an inappropriate assumption to apply. We also find that risk attitudes vary significantly with respect to several important socio-demographic variables such as age and education. However, we do not find any effect of sex on risk attitudes.

Journal Title

Scandinavian Journal of Economics

Volume

109

Issue/Number

2

Publication Date

1-1-2007

Document Type

Article

DOI Link

http://dx.doi.org/10.1111/j.1467-9442.2007.00496.x

Language

English

First Page

341

Last Page

368

WOS Identifier

WOS:000249199500009

ISSN

0347-0520

Recommended Citation

"Estimating risk attitudes in Denmark: A field experiment" (2007). Faculty Bibliography 2000s. 7214.
https://stars.library.ucf.edu/facultybib2000/7214