We estimate the impact of natural and human-influenced catastrophes on individual risk preferences. Using the meta-analysis process with random-effects models, we examine the significance of the effect of different catastrophes on individual risk preferences. As natural and human-influenced catastrophes have become more frequent a number of studies have evaluated their effects on risk attitudes. In this thesis a meta-analysis is performed from the results in these recent studies, allowing for comparisons across catastrophes and against results from laboratory experiments. In evaluating the change in risk-taking behavior amongst affected populations it may better inform relief efforts and policy decisions. Overall, subjects from developed nations exhibit increased risk loving behavior on average in contrast to the shift to risk aversion in subjects from developing nations.
Bachelor of Science (B.S.)
College of Business Administration
Bailey, James R., "Risk Preference Stability In The Aftermath of Natural and Human-Influenced Catastrophes: A Meta-Analysis" (2020). Honors Undergraduate Theses. 822.