| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15686 |
| 来源ID | Working Paper 15686 |
| How general are risk preferences? Choices under uncertainty in different domains. | |
| Liran Einav; Amy Finkelstein; Iuliana Pascu; Mark R. Cullen | |
| 发表日期 | 2010-01-21 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | We examine the extent to which an individual's actual insurance and investment choices display a stable ranking in willingness to bear risk, relative to his peers, across different contexts. We do so by examining the same individuals' decisions regarding their 401(k) asset allocations and their choices in five different employer-provided insurance domains, including health and disability insurance. We reject the null that there is no domain-general component of preferences. Among the five insurance domains, the magnitude of the domain-general component of preferences appears substantial; we find for example that one's choices in other insurance domains are substantially more predictive of one's choice in a given insurance domain than either one's detailed demographic characteristics or one's claims experience in that domain. However, we find considerably less predictive power between one's insurance choices and the riskiness of one's 401(k) asset allocations, suggesting that the common element of an individual's preferences may be stronger among domains that are "closer" in context. We also find that the relationship between insurance and investment choices appears considerably larger for employees who may be associated with better "financial sophistication." Overall, we view our findings as largely consistent with an important domain-general component of risk preferences. |
| 主题 | Microeconomics ; Households and Firms ; Economics of Information ; Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions |
| URL | https://www.nber.org/papers/w15686 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573359 |
| 推荐引用方式 GB/T 7714 | Liran Einav,Amy Finkelstein,Iuliana Pascu,et al. How general are risk preferences? Choices under uncertainty in different domains.. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15686.pdf（208KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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