Estimating risk attitudes in Denmark: A field experiment
Abbreviated Journal Title
Scand. J. Econ.
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
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.
Scandinavian Journal of Economics
"Estimating risk attitudes in Denmark: A field experiment" (2007). Faculty Bibliography 2000s. 7214.