Risk attitudes and migration decisions
| Autor: | Roberto Roca Paz, Silke Uebelmesser |
|---|---|
| Rok vydání: | 2021 |
| Předmět: |
05 social sciences
0211 other engineering and technologies 021107 urban & regional planning 02 engineering and technology Environmental Science (miscellaneous) Development interregional migration Individual risk Metropolitan area metropolitan statistical areas (MSAs) Geography Panel Study of Income Dynamics risk attitudes ddc:320 Panel Study of Income Dynamics (PSID) 0502 economics and business self‐selection Demographic economics 050207 economics |
| Zdroj: | Journal of Regional Science. 61:649-684 |
| ISSN: | 1467-9787 0022-4146 |
| DOI: | 10.1111/jors.12530 |
| Popis: | This paper analyzes the relationship between individuals' attitudes towards risk and their decision to migrate. We consider migration in the United States across metropolitan statistical areas (MSAs) between 1997 and 2015, based on data from the Panel Study of Income Dynamics (PSID). Using random-effects specifications, we find that being relatively more willing to take risks is positively and significantly related to cross-MSA migration. For cross-state migration and migration across larger distances, risk attitudes are slightly more important. A recursive bivariate probit model of simultaneous equations addresses the potential endogenous nature of attitudes towards risk and allows ruling out reverse causality. |
| Databáze: | OpenAIRE |
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