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How nurture can shape preferences: an experimental study on risk preferences of Vietnamese fishers

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  • NGUYEN, QUANG

Abstract

We combined field experiment and household survey data to investigate whether working in a risky occupation such as fishing makes fishers less risk averse than people in other occupations. The unique characteristic of Vietnam's fisheries enables us to solve the endogeneity problem of occupational choice usually found in this kind of study. We used prospect theory as the main analytical framework and developed a practical procedure to simultaneously estimate the parameters of the utility function under prospect theory. The key finding is that working in a fishery makes economic agents less risk averse than others.

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  • Nguyen, Quang, 2010. "How nurture can shape preferences: an experimental study on risk preferences of Vietnamese fishers," Environment and Development Economics, Cambridge University Press, vol. 15(5), pages 609-631, October.
    • Handle: RePEc:cup:endeec:v:15:y:2010:i:05:p:609-631_00
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    Cited by:

    1. Freudenreich, Hanna & Musshoff, Oliver, 2022. "Experience of losses and aversion to uncertainty - experimental evidence from farmers in Mexico," Ecological Economics, Elsevier, vol. 195(C).
    2. Liebenehm, Sabine & Waibel, Hermann, 2013. "Risk and Time Preferences of West African Cattle Farmers," 53rd Annual Conference, Berlin, Germany, September 25-27, 2013 156110, German Association of Agricultural Economists (GEWISOLA).
    3. Douadia Bougherara & Laurent Piet, 2018. "On the role of probability weighting on WTP for crop insurance with and without yield skewness," Working Papers hal-02790605, HAL.
    4. Liebenehm, Sabine & Waibel, Hermann, 2012. "Simultaneous estimation of risk and time preferences among small-scale cattle farmers in West Africa," Hannover Economic Papers (HEP) dp-501, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    5. Omotuyole Isiaka Ambali & Francisco Jose Areal & Nikolaos Georgantzis, 2021. "On Spatially Dependent Risk Preferences: The Case of Nigerian Farmers," Sustainability, MDPI, vol. 13(11), pages 1-16, May.
    6. Bontemps, Christophe & Bougherara, Douadia & Nauges, Céline, 2020. "Do Risk Preferences Really Matter? The Case of Pesticide Use in Agriculture," TSE Working Papers 20-1095, Toulouse School of Economics (TSE).
    7. Lobel, Robert Eugene & Klotzle, Marcelo Cabus & Silva, Paulo Vitor Jordão da Gama & Pinto, Antonio Carlos Figueiredo, 2017. "Teoria do prospecto: Uma análise paramétrica de formas funcionais no Brasil," RAE - Revista de Administração de Empresas, FGV-EAESP Escola de Administração de Empresas de São Paulo (Brazil), vol. 57(5), October.
    8. Nauges, Céline & Bougherara, Douadia & Koussoubé, Estelle, 2021. "Fertilizer use and risk: New evidence from Sub-Saharan Africa," TSE Working Papers 21-1266, Toulouse School of Economics (TSE).
    9. Julia Ihli, Hanna & Chiputwa, Brian & Winter, Etti & Gassner, Anja, 2022. "Risk and time preferences for participating in forest landscape restoration: The case of coffee farmers in Uganda," World Development, Elsevier, vol. 150(C).
    10. Golo-Friedrich Bauermeister & Daniel Hermann & Oliver Musshoff, 2018. "Consistency of determined risk attitudes and probability weightings across different elicitation methods," Theory and Decision, Springer, vol. 84(4), pages 627-644, June.

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