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Native-Migrant Differences in Risk Attitudes

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Author Info

  • Bonin, Holger

    ()
    (ZEW Mannheim)

  • Constant, Amelie F.

    ()
    (George Washington University, Temple University)

  • Tatsiramos, Konstantinos

    ()
    (University of Nottingham)

  • Zimmermann, Klaus F.

    ()
    (IZA and University of Bonn)

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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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 1999.

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Length: 12 pages
Date of creation: Mar 2006
Date of revision:
Publication status: published in: Applied Economics Letters, 2009, 16 (15), 1581-1586
Handle: RePEc:iza:izadps:dp1999

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Related research

Keywords: second-generation effects; risk attitudes; ethnicity; native-migrant differences; gender differences;

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References

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  1. 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.
  2. Ira N. Gang & Klaus F. Zimmermann, 2000. "Is Child like Parent? Educational Attainment and Ethnic Origin," Journal of Human Resources, University of Wisconsin Press, vol. 35(3), pages 550-569.
  3. Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde & Juergen Schupp & Gert Wagner, 2005. "Individual Risk Attitudes: New Evidence from a Large, Representative, Experimentally-Validated Survey," Working Papers, The Field Experiments Website 2096, The Field Experiments Website.
  4. Heitmueller, Axel, 2002. "Unemployment Benefits, Risk Aversion, and Migration Incentives," IZA Discussion Papers 610, Institute for the Study of Labor (IZA).
  5. George J. Borjas, 1987. "Self-Selection and the Earnings of Immigrants," NBER Working Papers 2248, National Bureau of Economic Research, Inc.
  6. 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.
  7. 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.
  8. 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.
  9. Michael Todaro, 1980. "Internal Migration in Developing Countries: A Survey," NBER Chapters, National Bureau of Economic Research, Inc, in: Population and Economic Change in Developing Countries, pages 361-402 National Bureau of Economic Research, Inc.
  10. 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.
  11. 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.
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Citations

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Cited by:
  1. Amelie F. Constant & Annabelle Krause & Ulf Rinne & Klaus F. Zimmermann, 2010. "Economic Preferences and Attitudes of the Unemployed: Are Natives and Second Generation Migrants Alike?," Discussion Papers of DIW Berlin 1088, DIW Berlin, German Institute for Economic Research.
  2. Heineck, Guido & Süssmuth, Bernd, 2012. "A different look at Lenin's legacy: Social capital and risk taking in the two Germanies," Working Papers 118, University of Leipzig, Faculty of Economics and Management Science.
  3. Pia Orrenius & Madeline Zavodny, 2009. "Do immigrants work in riskier jobs?," Demography, Springer, Springer, vol. 46(3), pages 535-551, August.
  4. 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).
  5. Mathias Sinning, 2007. "Wealth and Asset Holdings of Immigrants in Germany," SOEPpapers on Multidisciplinary Panel Data Research 59, DIW Berlin, The German Socio-Economic Panel (SOEP).
  6. 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).
  7. 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).
  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. 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.

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