Risk attitudes, development, and growth: macroeconomic evidence from experiments in 30 countries
We measure risk attitudes in 30 different countries in a controlled, incentivized experiment (N = 3025). At the macroeconomic level, we find a strong and highly significant negative correlation between the risk tolerance of a country and income per capita. This gives rise to a paradox, seen that ris...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Berlin
WZB
2012
|
| Schriftenreihe: | Discussion paper
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| Online-Zugang: | Volltext http://hdl.handle.net/10419/66905 |
| Zusammenfassung: | We measure risk attitudes in 30 different countries in a controlled, incentivized experiment (N = 3025). At the macroeconomic level, we find a strong and highly significant negative correlation between the risk tolerance of a country and income per capita. This gives rise to a paradox, seen that risk tolerance has been found to be positively associated with personal income within countries. We show that this paradox can be explained by unified growth theory. These results are consistent with the prediction that risk attitudes act as a transmission mechanism for growth by encouraging entrepreneurship. Furthermore, our study shows that risk attitudes vary considerably between countries and that for typical experimental stakes, risk seeking or neutrality is just as frequent as risk aversion. -- Risk attitudes ; cultural comparison ; economic growth ; comparative development |
| Beschreibung: | 1 Online-Ressource (40 S.) graph. Darst., Kt. |
Internformat
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| 245 | 1 | 0 | |a Risk attitudes, development, and growth |b macroeconomic evidence from experiments in 30 countries |c Ferdinand M. Vieider ; Thorsten Chmura ; Peter Martinsson |
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| 520 | 8 | |a We measure risk attitudes in 30 different countries in a controlled, incentivized experiment (N = 3025). At the macroeconomic level, we find a strong and highly significant negative correlation between the risk tolerance of a country and income per capita. This gives rise to a paradox, seen that risk tolerance has been found to be positively associated with personal income within countries. We show that this paradox can be explained by unified growth theory. These results are consistent with the prediction that risk attitudes act as a transmission mechanism for growth by encouraging entrepreneurship. Furthermore, our study shows that risk attitudes vary considerably between countries and that for typical experimental stakes, risk seeking or neutrality is just as frequent as risk aversion. -- Risk attitudes ; cultural comparison ; economic growth ; comparative development | |
| 700 | 1 | |a Chmura, Thorsten |d 1973- |e Verfasser |0 (DE-588)130011517 |4 aut | |
| 700 | 1 | |a Martinsson, Peter |e Verfasser |4 aut | |
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Datensatz im Suchindex
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| indexdate | 2024-07-10T01:20:21Z |
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| spelling | Vieider, Ferdinand M. 1976- Verfasser (DE-588)136216668 aut Risk attitudes, development, and growth macroeconomic evidence from experiments in 30 countries Ferdinand M. Vieider ; Thorsten Chmura ; Peter Martinsson Berlin WZB 2012 1 Online-Ressource (40 S.) graph. Darst., Kt. txt rdacontent c rdamedia cr rdacarrier Discussion paper We measure risk attitudes in 30 different countries in a controlled, incentivized experiment (N = 3025). At the macroeconomic level, we find a strong and highly significant negative correlation between the risk tolerance of a country and income per capita. This gives rise to a paradox, seen that risk tolerance has been found to be positively associated with personal income within countries. We show that this paradox can be explained by unified growth theory. These results are consistent with the prediction that risk attitudes act as a transmission mechanism for growth by encouraging entrepreneurship. Furthermore, our study shows that risk attitudes vary considerably between countries and that for typical experimental stakes, risk seeking or neutrality is just as frequent as risk aversion. -- Risk attitudes ; cultural comparison ; economic growth ; comparative development Chmura, Thorsten 1973- Verfasser (DE-588)130011517 aut Martinsson, Peter Verfasser aut http://bibliothek.wzb.eu/pdf/2012/ii12-401.pdf Verlag kostenfrei Volltext http://hdl.handle.net/10419/66905 Langzeitarchivierung |
| spellingShingle | Vieider, Ferdinand M. 1976- Chmura, Thorsten 1973- Martinsson, Peter Risk attitudes, development, and growth macroeconomic evidence from experiments in 30 countries |
| title | Risk attitudes, development, and growth macroeconomic evidence from experiments in 30 countries |
| title_auth | Risk attitudes, development, and growth macroeconomic evidence from experiments in 30 countries |
| title_exact_search | Risk attitudes, development, and growth macroeconomic evidence from experiments in 30 countries |
| title_full | Risk attitudes, development, and growth macroeconomic evidence from experiments in 30 countries Ferdinand M. Vieider ; Thorsten Chmura ; Peter Martinsson |
| title_fullStr | Risk attitudes, development, and growth macroeconomic evidence from experiments in 30 countries Ferdinand M. Vieider ; Thorsten Chmura ; Peter Martinsson |
| title_full_unstemmed | Risk attitudes, development, and growth macroeconomic evidence from experiments in 30 countries Ferdinand M. Vieider ; Thorsten Chmura ; Peter Martinsson |
| title_short | Risk attitudes, development, and growth |
| title_sort | risk attitudes development and growth macroeconomic evidence from experiments in 30 countries |
| title_sub | macroeconomic evidence from experiments in 30 countries |
| url | http://bibliothek.wzb.eu/pdf/2012/ii12-401.pdf http://hdl.handle.net/10419/66905 |
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