Experiments on risk attitude: The case of Chinese students

Autor:	Shiyu Xie, Jie Qin, Yoshiro Tsutsui, Fumio Ohtake, Shunichiro Sasaki
Rok vydání:	2008
Předmět:	Economics and Econometrics Actuarial science Risk aversion Risk premium Economics Asset (economics) Endowment effect Finance Absolute risk aversion
Zdroj:	China Economic Review. 19:245-259
ISSN:	1043-951X
DOI:	10.1016/j.chieco.2007.06.003
Popis:	This paper examines Chinese students' risk attitude using buying and selling experiments with lotteries. We found that subjects were more risk averse in the buying experiment than in the selling experiment, suggesting the endowment effect. In the selling experiment, subjects were risk loving when there was a low win probability and risk averse with a high win probability, whereas they were risk averse in the buying experiment. Using the prize money won during the experiment as a measure of wealth, we found decreasing absolute risk aversion. Subjects' risk attitude as revealed in the experiments explains their risky asset holding behavior.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::9d5c1cb73265d34d58ecc00fa96d2c48 https://doi.org/10.1016/j.chieco.2007.06.003 Zobrazit plný text záznamu Full Text from ScienceDirect