Emotions and Risk Attitudes

IF 5.5 1区 经济学 Q1 ECONOMICS
Armando N. Meier
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引用次数: 18

Abstract

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 dataset, I identify happiness, anger, and fear as significant correlates of within-person changes in risk attitudes. Robustness checks indicate a limited role for alternative explanations. An event study around the death of a parent or child further confirms a large relationship between emotions and risk attitudes. (JEL D12, D81, D91, I31)
情绪与风险态度
先前的研究表明,偏好并不总是随着时间的推移而稳定,但令人惊讶的是,人们对这种不稳定的原因知之甚少。我研究人们情绪随时间的变化是否预示着风险态度的变化。使用一个大面板数据集,我发现快乐、愤怒和恐惧是个人风险态度变化的重要相关因素。鲁棒性检查表明,替代解释的作用有限。一项关于父母或孩子死亡的事件研究进一步证实了情绪与风险态度之间的巨大关系。(jel d12, d81, d91, i31)
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来源期刊
CiteScore
9.10
自引率
1.60%
发文量
63
期刊介绍: American Economic Journal: Applied Economics publishes papers covering a range of topics in applied economics, with a focus on empirical microeconomic issues. In particular, we welcome papers on labor economics, development microeconomics, health, education, demography, empirical corporate finance, empirical studies of trade, and empirical behavioral economics.
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