Stereotypes and Risk Attitudes: Evidence from the Lab and the Field
Recent studies have found correlations between risk attitudes and several sociodemographic characteristics. In this paper, we deploy an artefactual field experiment and study whether subjects - non-professionals and -financial professionals - are aware of these correlations. This is largely confirmed by our results for all subject groups. We show that the subjects attach informational value to sociodemographic information when assessing others' risk attitudes. This provides external validity to the correlations found between risk preferences and sociodemographics. A person's self-assessment of risk attitudes is the most helpful device for the subjects' assessments of others, although experienced professionals make use of it to a minor extent than all other subjects.
|Date of creation:||2012|
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- Jonathan E. Alevy & Michael S. Haigh & John A. List, 2007.
"Information Cascades: Evidence from a Field Experiment with Financial Market Professionals,"
Journal of Finance,
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- Belzil, Christian & Leonardi, Marco, 2007.
"Can risk aversion explain schooling attainments? Evidence from Italy,"
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- Christian Belzil & Marco Leonardi, 2006. "Can Risk Aversion Explain Schooling Attainments? Evidence From Italy," Post-Print halshs-00142551, HAL.
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- Steffen Andersen & Glenn Harrison & Morten Lau & E. Rutström, 2009.
"Elicitation using multiple price list formats,"
Springer, vol. 12(3), pages 365-366, September.
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