Variation in risk seeking behavior in a natural experiment following a large negative wealth shock induced by a natural disaster
Page, Lionel, Savage, David, & Torgler, Benno (2012) Variation in risk seeking behavior in a natural experiment following a large negative wealth shock induced by a natural disaster. In Ulubasoglu, Mehmet & Kidd, Michael P. (Eds.) ESAM2012 Conference program, Econometric Society Australasia, Melbourne, VIC.
An ongoing challenge in behavioral economics is to understand the variations observed in risk attitudes as a function of their environmental context. Of particular interest is the effect of wealth on risk attitudes. The research in this area has however faced two constraints: the difficulty to study the causal effects of large changes in wealth, and the causal effects of losses on risk behavior. The present paper address this double limitation by providing evidence of the variation of risk attitude after large losses using a natural disaster (Brisbane floods) as the setting for a natural experiment.
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|Item Type:||Conference Paper|
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Economics & Finance
|Deposited On:||10 Dec 2012 23:24|
|Last Modified:||12 Jun 2013 15:21|
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