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Emotions and risk attitudes

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Bibliographic Details
Authors and Corporations: Meier, Armando N. (Author)
Type of Resource: E-Book
Language: English
published:
Series: Deutsches Institut für Wirtschaftsforschung: SOEP papers on multidisciplinary panel data research ; 1118 (2021)
Subjects:
Emotions
happiness
risk attitudes
risk preferences
preference stability
SOEP
Graue Literatur
Source: Verbunddaten SWB
Lizenzfreie Online-Ressourcen
Description
Summary: Previous work has shown that preferences are not always stable across time, but surprisingly little is known about the reasons for this instability. I examine whether variation in people's emotions over time predicts changes in risk attitudes. Using a large panel data set, I identify happiness, anger, and fear as significant correlates of within-person changes in risk attitudes. Robustness checks indicate a limited role of alternative explanations. An event study around the death of a parent or child further confirms a large relationship between emotions and risk attitudes.
Physical Description: 1 Online-Ressource (circa 71 Seiten); Illustrationen