How general are risk preferences? Choices under uncertainty in different domains
| Autor: | Mark R. Cullen, Amy Finkelstein, Liran Einav, Iuliana Pascu |
|---|---|
| Přispěvatelé: | Massachusetts Institute of Technology. Department of Economics, Finkelstein, Amy, Pascu, Iuliana |
| Rok vydání: | 2010 |
| Předmět: |
Economics and Econometrics
jel:D81 050204 development studies media_common.quotation_subject Asset allocation Sample (statistics) Article jel:G22 Component (UML) 0502 economics and business Economics 050207 economics media_common Stylized fact 050208 finance Actuarial science Risk aversion 05 social sciences 04 agricultural and veterinary sciences Investment (macroeconomics) Payment jel:D14 jel:G11 040103 agronomy & agriculture 0401 agriculture forestry and fisheries Insurance coverage |
| Zdroj: | MIT web domain |
| Popis: | We analyze the extent to which individuals' choices over five employer-provided insurance coverage decisions and one 401(k) investment decision exhibit systematic patterns, as would be implied by a general utility component of risk preferences. We provide evidence consistent with an important domain-general component that operates across all insurance choices. We find a considerably weaker relationship between one's insurance decisions and 401(k) asset allocation, although this relationship appears larger for more "financially sophisticated" individuals. Estimates from a stylized coverage choice model suggest that up to 30 percent of our sample makes choices that may be consistent across all 6 domains. United States. Social Security Administration (grant #10-M-98363-1-02) National Institute on Aging (NIA (R01 AG032449) National Science Foundation (U.S.) (grant #SES-0643037) Alfred P. Sloan Foundation Aluminum Company of America John D. and Catherine T. MacArthur Foundation (Network on Socioeconomic Status and Health) |
| Databáze: | OpenAIRE |
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