Cesarini, David () (Research Institute of Industrial Economics (IFN)) Johannesson, Magnus () (Stockholm School of Economics) Lichtenstein, Paul (Karolinska Institutet) Sandewall, Örjan () (Research Institute of Industrial Economics (IFN)) Wallace, Björn () (Stockholm School of Economics)
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In this paper, we use a sample of almost 30,000 Swedish mono- and dizygotic twins to study the heritability of financial risk-taking. Following a major pension reform in the year 2000, virtually all Swedish adults had to simultaneously make a financial decision affecting post-retirement wealth. We take this event as a field experiment to infer risk preferences. We use standard techniques from behavior genetics to partition variation in risk-taking into environmental and genetic components. Our findings suggest that genetic variation is an important source of individual heterogeneity in financial risk-taking.
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Paper provided by Research Institute of Industrial Economics in its series Working Paper Series with number
765.
Length: 40 pages Date of creation: 23 Sep 2008 Date of revision: Handle: RePEc:hhs:iuiwop:0765
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