Risk aversion relates to cognitive ability: Preferences or noise?
- Autor(en)
- Ola Andersson, Hakan Holm, Jean-Robert Tyran, Erik Wengström
- Abstrakt
Recent experimental studies suggest that risk aversion is negatively related to cognitive ability. In this paper we report evidence that this relation may be spurious. We recruit a large subject pool drawn from the general Danish population for our experiment. By presenting subjects with choice tasks that vary the bias induced by random choices, we are able to generate both negative and positive correlations between risk aversion and cognitive ability. Our results suggest that cognitive ability is related to random decision making rather than to risk preferences. (JEL: C81, C91, D12, D81).
- Organisation(en)
- Institut für Volkswirtschaftslehre, Wiener Zentrum für Experimentelle Wirtschaftsforschung
- Externe Organisation(en)
- Research Institute of Industrial Economics, Lund University, University of Copenhagen
- Journal
- Journal of the European Economic Association
- Band
- 14
- Seiten
- 1129–1154
- Anzahl der Seiten
- 26
- ISSN
- 1542-4766
- DOI
- https://doi.org/10.1111/jeea.12179
- Publikationsdatum
- 10-2016
- Peer-reviewed
- Ja
- ÖFOS 2012
- 502045 Verhaltensökonomie, 502021 Mikroökonomie
- Schlagwörter
- ASJC Scopus Sachgebiete
- Economics, Econometrics and Finance(all)
- Link zum Portal
- https://ucrisportal.univie.ac.at/de/publications/ccafb5d4-c7bb-49e2-8d11-ac58d322356f