Eliciting Risk and Time Preferences in Field Experiments: Are They Related to Cognitive and Non-Cognitive Outcomes? Are Circumstances Important?
AbstractThis study investigates how cognitive and non-cognitive personality traits, and economic preference parameters, such as risk aversion and impatience, relate to each other and to characteristics pertaining to the individual, family and society paying special attention to the role played by circumstances and responsibilities as the result of individuals’ effort. The analysis uses data about cognitive abilities, non-cognitive personality traits, economic preferences and the socio-economic circumstances of a sample of High School leavers in the Veneto region, located in the North-East of Italy, and two samples of university students, one covering the nation as a whole and the other from the University of Verona. We show that it is both feasible and reliable to elicit risk and time attitudes in field experiments. The study of the relations linking cognitive skills, non-cognitive traits, economic parameters and socio-economic circumstances has revealed interesting regularities.
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Bibliographic InfoArticle provided by Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore in its journal Rivista Internazionale di Scienze Sociali.
Volume (Year): 117 (2009)
Issue (Month): 3 ()
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Cognitive abilities; Non-cognitive traits; Risk and time preferences; School performance; Reservation wages; Equality of opportunity; Circumstances; Responsibility; Effort;
Find related papers by JEL classification:
- I20 - Health, Education, and Welfare - - Education - - - General
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior
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- Paolo Crosetto & Antonio Filippin & Janna Heider, 2013. "A Study of Outcome Reporting Bias Using Gender Differences in Risk Attitudes," CESifo Working Paper Series 4466, CESifo Group Munich.
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