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Estimating Risk Attitudes in Denmark: A Field Experiment

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Author Info
Glenn W. Harrison
Morten I. Lau
E. Elisabet Rutström

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Abstract

We estimate individual risk attitudes using controlled experiments in the field in Denmark. The experiments were carried out across Denmark using a representative sample of 253 people between 19 and 75 years of age. Risk attitudes are estimated for various individuals differentiated by socio-demographic characteristics. Our results indicate that the average Dane is risk averse, and that risk neutrality is an inappropriate assumption to apply. We also find that risk attitudes vary significantly with respect to several important socio-demographic variables such as age and education. However, we do not find any effect of sex on risk attitudes. Copyright The editors of the "Scandinavian Journal of Economics" 2007 .

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-9442.2007.00496.x
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Publisher Info
Article provided by Blackwell Publishing in its journal Scandinavian Journal of Economics.

Volume (Year): 109 (2007)
Issue (Month): 2 (06)
Pages: 341-368
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Handle: RePEc:bla:scandj:v:109:y:2007:i:2:p:341-368

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  1. Enrico Diecidue & Peter Wakker & Marcel Zeelenberg, 2007. "Eliciting decision weights by adapting de Finetti’s betting-odds method to prospect theory," Journal of Risk and Uncertainty, Springer, vol. 34(3), pages 179-199, June. [Downloadable!] (restricted)
  2. Galarza, Francisco, 2009. "Choices under Risk in Rural Peru," MPRA Paper 17708, University Library of Munich, Germany. [Downloadable!]
  3. Lisa R. Anderson & Jennifer M. Mellor, 2007. "Predicting Health Behaviors with an Experimental Measure of Risk Preference," Working Papers 59, Department of Economics, College of William and Mary. [Downloadable!]
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  4. Mengel Friederike & Romero José Gabriel & Kovarik Jaromir, 2009. "(Anti-) Coordination in Networks," Research Memoranda 041, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization. [Downloadable!]
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This page was last updated on 2009-11-22.

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