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Native-Migrant Differences in Risk Attitudes

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Author Info

  • 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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Related research

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

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References

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  1. Thomas DeLeire & Helen Levy, 2004. "Worker Sorting and the Risk of Death on the Job," Journal of Labor Economics, University of Chicago Press, vol. 22(4), pages 925-954, October.
  2. Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde & Jurgen Schupp & Gert Wagner, 2005. "Individual risk attitudes: New evidence from a large, representative, experimentally-validated survey," Framed Field Experiments 00140, The Field Experiments Website.
  3. Borjas, George J, 1987. "Self-Selection and the Earnings of Immigrants," American Economic Review, American Economic Association, vol. 77(4), pages 531-53, September.
  4. Heitmueller, Axel, 2002. "Unemployment Benefits, Risk Aversion, and Migration Incentives," IZA Discussion Papers 610, Institute for the Study of Labor (IZA).
  5. Chiswick, Barry R, 1978. "The Effect of Americanization on the Earnings of Foreign-born Men," Journal of Political Economy, University of Chicago Press, vol. 86(5), pages 897-921, October.
  6. Gang, Ira & Zimmermann, Klaus F, 1996. "Is Child Like Parent? Educational Attainment and Ethnic Origin," CEPR Discussion Papers 1461, C.E.P.R. Discussion Papers.
  7. Shane Frederick, 2005. "Cognitive Reflection and Decision Making," Journal of Economic Perspectives, American Economic Association, vol. 19(4), pages 25-42, Fall.
  8. Klaus F. Zimmermann, 1995. "Tackling the European Migration Problems," Journal of Economic Perspectives, American Economic Association, vol. 9(2), pages 45-62, Spring.
  9. Hartog, Joop & Ferrer-i-Carbonell, Ada & Jonker, Nicole, 2002. "Linking Measured Risk Aversion to Individual Characteristics," Kyklos, Wiley Blackwell, vol. 55(1), pages 3-26.
  10. Constant, Amelie F. & Zimmermann, Klaus F., 2004. "The Making of Entrepreneurs in Germany: Are Native Men and Immigrants Alike?," IZA Discussion Papers 1440, Institute for the Study of Labor (IZA).
  11. 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.
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Citations

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Cited by:
  1. Mathias Sinning, 2007. "Wealth and Asset Holdings of Immigrants in Germany," Ruhr Economic Papers 0030, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  2. Pia Orrenius & Madeline Zavodny, 2009. "Do immigrants work in riskier jobs?," Demography, Springer, vol. 46(3), pages 535-551, August.
  3. Constant, Amelie F. & Krause, Annabelle & Rinne, Ulf & Zimmermann, Klaus F., 2010. "Economic Preferences and Attitudes of the Unemployed: Are Natives and Second Generation Migrants Alike?," IZA Discussion Papers 5380, Institute for the Study of Labor (IZA).
  4. 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.
  5. 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).
  6. 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.
  7. Deborah A. Cobb-Clark & Vincent A. Hildebrand, 2008. "The Asset Portfolios of Native-born and Foreign-born Households," CEPR Discussion Papers 567, Centre for Economic Policy Research, Research School of Economics, Australian National University.
  8. 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.
  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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