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Genetic Variation in Preferences for Giving and Risk-Taking

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Author Info
David, Cesarini () (Department of Economics, Massachusetts Institute of Technology)
Dawes, Christopher T. () (Political Science Department, University of California, San Diego)
Johannesson, Magnus () (Dept. of Economics, Stockholm School of Economics)
Lichtenstein, Paul () (Department of Medical Epidemiology and Biostatistics, Karolinska Institutet)
Wallace, Björn () (Dept. of Economics, Stockholm School of Economics)

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Abstract

In this paper, we use the classical twin design to provide estimates of genetic and environmental influences on experimentally elicited preferences for risk and giving. Using standard methods from behavior genetics, we find strong prima facie evidence that these preferences are broadly heritable and our estimates suggest that genetic differences explain approximately twenty percent of individual variation. The results thus shed light on an important source of individual variation in preferences, a source which has hitherto largely been neglected in the economics literature.

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Publisher Info
Paper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 679.

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Length: 39 pages
Date of creation: 22 Nov 2007
Date of revision: 12 Jan 2009
Publication status: Forthcoming in Quarterly Journal of Economics.
Handle: RePEc:hhs:hastef:0679

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Related research
Keywords: Genetics; Altruism; Risk Aversion; Preferences; Experiments;

Other versions of this item:

Find related papers by JEL classification:
C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
D64 - Microeconomics - - Welfare Economics - - - Altruism

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  1. Pearson, Matthew & Schipper, Burkhard C, 2009. "The Visible Hand: Finger ratio (2D:4D) and competitive behavior," MPRA Paper 16785, University Library of Munich, Germany. [Downloadable!]
  2. Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde, 2008. "The Intergenerational Transmission of Risk and Trust Attitudes," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  3. Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde, 2009. "The Intergenerational Transmission of Attitudes," CESifo DICE Report, Ifo Institute for Economic Research at the University of Munich, vol. 7(1), pages 8-12, 04. [Downloadable!]
  4. Pearson, Matthew & Schipper, Burkhard C, 2009. "Menstrual cycle and competitive bidding," MPRA Paper 16784, University Library of Munich, Germany. [Downloadable!]
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This page was last updated on 2009-11-3.

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