{"title":"Impact of development interventions on individual risk preferences: Evidence from a field-lab experiment and survey data","authors":"Noemi Pace , Silvio Daidone","doi":"10.1016/j.socec.2024.102238","DOIUrl":null,"url":null,"abstract":"<div><p>In rural settings, individual risk preferences represent one of the channels driving the shift from low-return/low-risk activities towards high-return/high-risk activities. This study takes advantage of data collected for the impact evaluation of the Child Grants Programme, an unconditional cash transfer program, and the Sustainable Poverty Reduction through Income, Nutrition and Access to Government Services (SPRINGS) project, a community development package, in rural Lesotho. The paper has two major goals. First, we investigate the effects of the programs on risk preferences measured via laboratory experiments in the field and a survey instrument. Second, we perform a mediation analysis to quantify the extent to which the programs affect risky investment decisions in real life through changes in risk preferences. Results show that the combination of programs decreases risk aversion, partially mediating the impact of the programs on risky agricultural investment decisions in real life.</p></div>","PeriodicalId":51637,"journal":{"name":"Journal of Behavioral and Experimental Economics","volume":null,"pages":null},"PeriodicalIF":1.6000,"publicationDate":"2024-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Behavioral and Experimental Economics","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S2214804324000764","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
In rural settings, individual risk preferences represent one of the channels driving the shift from low-return/low-risk activities towards high-return/high-risk activities. This study takes advantage of data collected for the impact evaluation of the Child Grants Programme, an unconditional cash transfer program, and the Sustainable Poverty Reduction through Income, Nutrition and Access to Government Services (SPRINGS) project, a community development package, in rural Lesotho. The paper has two major goals. First, we investigate the effects of the programs on risk preferences measured via laboratory experiments in the field and a survey instrument. Second, we perform a mediation analysis to quantify the extent to which the programs affect risky investment decisions in real life through changes in risk preferences. Results show that the combination of programs decreases risk aversion, partially mediating the impact of the programs on risky agricultural investment decisions in real life.
期刊介绍：
The Journal of Behavioral and Experimental Economics (formerly the Journal of Socio-Economics) welcomes submissions that deal with various economic topics but also involve issues that are related to other social sciences, especially psychology, or use experimental methods of inquiry. Thus, contributions in behavioral economics, experimental economics, economic psychology, and judgment and decision making are especially welcome. The journal is open to different research methodologies, as long as they are relevant to the topic and employed rigorously. Possible methodologies include, for example, experiments, surveys, empirical work, theoretical models, meta-analyses, case studies, and simulation-based analyses. Literature reviews that integrate findings from many studies are also welcome, but they should synthesize the literature in a useful manner and provide substantial contribution beyond what the reader could get by simply reading the abstracts of the cited papers. In empirical work, it is important that the results are not only statistically significant but also economically significant. A high contribution-to-length ratio is expected from published articles and therefore papers should not be unnecessarily long, and short articles are welcome. Articles should be written in a manner that is intelligible to our generalist readership. Book reviews are generally solicited but occasionally unsolicited reviews will also be published. Contact the Book Review Editor for related inquiries.
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