Do the eealthy risk more money? An experimental comparison

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The Birgit Grodal Symposium, Karl Vind, editor, Springer Verlag, Berlin, 2006
http://hdl.handle.net/10230/884
To cite or link this document: http://hdl.handle.net/10230/884
dc.contributor.author Bosch-Domènech, Antoni
dc.contributor.author Silvestre, Joaquim
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.issued 2003-06-01
dc.identifier.citation The Birgit Grodal Symposium, Karl Vind, editor, Springer Verlag, Berlin, 2006
dc.identifier.uri http://hdl.handle.net/10230/884
dc.description.abstract Are poor people more or less likely to take money risks than wealthy folks? We find that risk attraction is more prevalent among the wealthy when the amounts of money at risk are small (not surprising, since ten dollars is a smaller amount for a wealthy person than for a poor one), but, interestingly, for the larger amounts of money at risk the fraction of the nonwealthy displaying risk attraction exceeds that of the wealthy. We also replicate our previous finding that many people display risk attraction for small money amounts, but risk aversion for large ones. We argue that preferences yielding “risk attraction for small money amounts, together with risk aversion for larger amounts, at all levels of wealth,” while contradicting the expected utility hypothesis, may be well-defined, independently of reference points, on the choice space.
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 692
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title Do the eealthy risk more money? An experimental comparison
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2014-06-03T07:14:09Z
dc.subject.keyword Behavioral and Experimental Economics
dc.subject.keyword risk attraction
dc.subject.keyword risk aversion
dc.subject.keyword wealth
dc.subject.keyword experiments
dc.subject.keyword leex
dc.rights.accessRights info:eu-repo/semantics/openAccess


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