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A Note on Risk Aversion and Labour Market Outcomes: Further Evidence from German Survey Data

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  • Pfeifer, Christian

    ()
    (Leuphana University Lüneburg)

Abstract

Using the large-scale German Socio-Economic Panel, this note reports direct empirical evidence for significant correlations between risk aversion and labour market outcomes (full-time employment, temporary agency work, fixed-term contracts, employer change, quits, training, wages, and job satisfaction).

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 3523.

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Length: 13 pages
Date of creation: May 2008
Date of revision:
Publication status: published as "Risk Aversion and Labour Market Outcomes: Evidence from German Survey Data" in: Empirical Economics Letters, 2009, 8(3)
Handle: RePEc:iza:izadps:dp3523

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Keywords: human capital; job search; employment; risk aversion; wages;

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References

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  1. 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.
  2. Laszlo Goerke & Markus Pannenberg, 2008. "Risk Aversion and Trade Union Membership," Discussion Papers of DIW Berlin 770, DIW Berlin, German Institute for Economic Research.
  3. Feinberg, Robert M, 1977. "Risk Aversion, Risk, and the Duration of Unemployment," The Review of Economics and Statistics, MIT Press, vol. 59(3), pages 264-71, August.
  4. Pissarides, Christopher A, 1974. "Risk, Job Search, and Income Distribution," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1255-67, Nov.-Dec..
  5. Luechinger, Simon & Stutzer, Alois & Winkelmann, Rainer, 2006. "The Happiness Gains from Sorting and Matching in the Labor Market," IZA Discussion Papers 2019, Institute for the Study of Labor (IZA).
  6. Joni Hersch & W. Kip Viscusi, 1990. "Cigarette Smoking, Seatbelt Use, and Differences in Wage-Risk Tradeoffs," Journal of Human Resources, University of Wisconsin Press, vol. 25(2), pages 202-227.
  7. Grund, Christian & Sliwka, Dirk, 2006. "Performance Pay and Risk Aversion," IZA Discussion Papers 2012, Institute for the Study of Labor (IZA).
  8. Markus Pannenberg, 2007. "Risk Aversion and Reservation Wages," SOEPpapers on Multidisciplinary Panel Data Research 23, DIW Berlin, The German Socio-Economic Panel (SOEP).
  9. Pfeifer, Christian, 2008. "Risk Aversion and Sorting into Public Sector Employment," IZA Discussion Papers 3503, Institute for the Study of Labor (IZA).
  10. Thomas Cornelißen & John S. Heywood & Uwe Jirjahn, 2008. "Performance Pay, Risk Attitudes and Job Satisfaction," SOEPpapers on Multidisciplinary Panel Data Research 136, DIW Berlin, The German Socio-Economic Panel (SOEP).
  11. Levhari, David & Weiss, Yoram, 1974. "The Effect of Risk on the Investment in Human Capital," American Economic Review, American Economic Association, vol. 64(6), pages 950-63, December.
  12. Pannenberg, Markus, 2007. "Risk Aversion and Reservation Wages," IZA Discussion Papers 2806, Institute for the Study of Labor (IZA).
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Cited by:
  1. Wölfel, Oliver & Heineck, Guido, 2012. "Parental risk attitudes and children's secondary school track choice," Economics of Education Review, Elsevier, vol. 31(5), pages 727-743.
  2. Cho, In Soo & Orazem, Peter, 2011. "Risk Aversion or Risk Management?: How Measures of Risk Aversion Affect Firm Entry and Firm Survival," Staff General Research Papers 34162, Iowa State University, Department of Economics.

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