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Genetic Determinants of Financial Risk Taking

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Author Info
Kuhnen, Camelia M.
Chiao, Joan Y.

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Abstract

Individuals vary in their willingness to take financial risks. Here we show that variants of two genes that regulate dopamine and serotonin neurotransmission and have been previously linked to emotional behavior, anxiety and addiction (5-HTTLPR and DRD4) are significant determinants of risk taking in investment decisions. We find that the 5-HTTLPR s/s allele carriers take 28% less risk than those carrying the s/l or l/l alleles of the gene. DRD4 7-repeat allele carriers take 25% more risk than individuals without the 7-repeat allele. These findings contribute to the emerging literature on the genetic determinants of economic behavior.

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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 10895.

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Date of creation: Sep 2008
Date of revision: Dec 2008
Handle: RePEc:pra:mprapa:10895

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Related research
Keywords: genes; risk preferences; financial decisions; neuroeconomics; dopamine; serotonin; emotion; addiction;

Find related papers by JEL classification:
D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
D87 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Neuroeconomics
C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior

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This page was last updated on 2009-11-28.

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