How General are Risk Preferences? Choices under Uncertainty in Different Domains.
Am Econ Rev
; 102(6): 2606-2038, 2012 Oct.
Article
en En
| MEDLINE
| ID: mdl-24634517
ABSTRACT
We analyze the extent to which individuals' choices over five employer-provided insurance coverage decisions and one 401(k) investment decision exhibit systematic patterns, as would be implied by a general utility component of risk preferences. We provide evidence consistent with an important domain-general component that operates across all insurance choices. We find a considerably weaker relationship between one's insurance decisions and 401(k) asset allocation, although this relationship appears larger for more "financially sophisticated" individuals. Estimates from a stylized coverage choice model suggest that up to thirty percent of our sample makes choices that may be consistent across all six domains.
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Etiology_studies
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Prognostic_studies
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Risk_factors_studies
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En
Año:
2012
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Article