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Native-Migrant Differences in Risk Attitudes

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  • Holger Bonin
  • Amelie Constant
  • Konstantinos Tatsiramos
  • Klaus F. Zimmermann

Abstract

This paper questions the perceived wisdom that migrants are more risk-loving than the native population. We employ a new large German survey of direct individual risk measures to find that first-generation migrants have lower risk attitudes than natives, which only equalize in the second generation.

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File URL: http://www.diw.de/documents/publikationen/73/diw_01.c.44092.de/dp560.pdf
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Bibliographic Info

Paper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 560.

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Length: 9 p.
Date of creation: 2006
Date of revision:
Handle: RePEc:diw:diwwpp:dp560

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Keywords: Risk attitudes; Ethnicity; Native-migrant differences; Gender differences; Secondgeneration effects;

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References

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  1. Ira N. Gang & Klaus F. Zimmermann, 1999. "Is Child Like Parent? Educational Attainment and Ethnic Origin," Departmental Working Papers, Rutgers University, Department of Economics 199614, Rutgers University, Department of Economics.
  2. Borjas, George J, 1987. "Self-Selection and the Earnings of Immigrants," American Economic Review, American Economic Association, American Economic Association, vol. 77(4), pages 531-53, September.
  3. Shane Frederick, 2005. "Cognitive Reflection and Decision Making," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 19(4), pages 25-42, Fall.
  4. Chiswick, Barry R, 1978. "The Effect of Americanization on the Earnings of Foreign-born Men," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 86(5), pages 897-921, October.
  5. Amelie Constant & Klaus Zimmermann, 2006. "The Making of Entrepreneurs in Germany: Are Native Men and Immigrants Alike?," Small Business Economics, Springer, Springer, vol. 26(3), pages 279-300, 04.
  6. Michael Todaro, 1980. "Internal Migration in Developing Countries: A Survey," NBER Chapters, in: Population and Economic Change in Developing Countries, pages 361-402 National Bureau of Economic Research, Inc.
  7. Hartog, Joop & Ferrer-i-Carbonell, Ada & Jonker, Nicole, 2002. "Linking Measured Risk Aversion to Individual Characteristics," Kyklos, Wiley Blackwell, Wiley Blackwell, vol. 55(1), pages 3-26.
  8. Dohmen, Thomas & Falk, Armin & Huffman, David B. & Sunde, Uwe & Schupp, Jürgen & Wagner, Gert G., 2005. "Individual Risk Attitudes: New Evidence from a Large, Representative, Experimentally-Validated Survey," IZA Discussion Papers 1730, Institute for the Study of Labor (IZA).
  9. Klaus F. Zimmermann, 1995. "Tackling the European Migration Problems," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 9(2), pages 45-62, Spring.
  10. Axel Heitmueller, 2005. "Unemployment benefits, risk aversion, and migration incentives," Journal of Population Economics, Springer, Springer, vol. 18(1), pages 93-112, 01.
  11. Thomas DeLeire & Helen Levy, 2004. "Worker Sorting and the Risk of Death on the Job," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 22(4), pages 925-954, October.
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Citations

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Cited by:
  1. Cobb-Clark, Deborah A. & Hildebrand, Vincent A., 2008. "The Asset Portfolios of Native-Born and Foreign-Born Households," IZA Discussion Papers 3304, Institute for the Study of Labor (IZA).
  2. Apartsin, Yevgenia & Maymon, Yafit & Cohen, Yuval & Singer, Gonen, 2013. "Nationality and risk attitude: Testing differences and similarities of investors' behavior in selected financial markets," Global Finance Journal, Elsevier, vol. 24(2), pages 114-118.
  3. Heineck, Guido & Süssmuth, Bernd, 2013. "A different look at Lenin’s legacy: Social capital and risk taking in the Two Germanies," Journal of Comparative Economics, Elsevier, vol. 41(3), pages 789-803.
  4. Pia M. Orrenius & Madeline Zavodny, 2009. "Do immigrants work in riskier jobs?," Working Papers, Federal Reserve Bank of Dallas 0901, Federal Reserve Bank of Dallas.
  5. Sinning, Mathias, 2007. "Wealth and Asset Holdings of Immigrants in Germany," IZA Discussion Papers 3089, Institute for the Study of Labor (IZA).
  6. Constant, Amelie & Krause, Annabelle & Rinne, Ulf & Zimmermann, Klaus F, 2011. "Economic Preferences and Attitudes of the Unemployed: Are Natives and Second Generation Migrants Alike?," CEPR Discussion Papers, C.E.P.R. Discussion Papers 8207, C.E.P.R. Discussion Papers.
  7. Bella Struminskaya, 2011. "Selbständigkeit von Personen mit Migrationshintergrund in Deutschland: Ursachen ethnischer Unternehmung," SOEPpapers on Multidisciplinary Panel Data Research 418, DIW Berlin, The German Socio-Economic Panel (SOEP).
  8. Wyrwich, Michael, 2013. "Can socioeconomic heritage produce a lost generation with regard to entrepreneurship?," Journal of Business Venturing, Elsevier, vol. 28(5), pages 667-682.
  9. Le, Anh T. & Miller, Paul W. & Slutske, Wendy S. & Martin, Nicholas G., 2010. "Are Attitudes Towards Economic Risk Heritable? Analyses Using the Australian Twin Study of Gambling," IZA Discussion Papers 4859, Institute for the Study of Labor (IZA).

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