Portfolio choices and risk preferences in village economies
We use a model of optimal portfolio choice to measure heterogeneity in risk aversion among households in Thai villages. There is substantial heterogeneity in risk preferences, positively correlated in most villages with alternative estimates based on a full risk-sharing model.
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- Pierre‐André Chiappori & Monica Paiella, 2011.
"Relative Risk Aversion Is Constant: Evidence From Panel Data,"
Journal of the European Economic Association,
European Economic Association, vol. 9(6), pages 1021-1052, December.
- Pierre-André Chiappori & Monica Paiella, 2008. "Relative Risk Aversion Is Constant: Evidence from Panel Data," Discussion Papers 5_2008, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
- Pierre-André Chiappori & Krislert Samphantharak & Sam Schulhofer-Wohl & Robert M. Townsend, 2011.
"Heterogeneity and Risk Sharing in Village Economies,"
NBER Working Papers
16696, National Bureau of Economic Research, Inc.
- Pierre‐André Chiappori & Krislert Samphantharak & Sam Schulhofer‐Wohl & Robert M. Townsend, 2014. "Heterogeneity and risk sharing in village economies," Quantitative Economics, Econometric Society, vol. 5, pages 1-27, 03.
- Pierre-Andre Chiappori & Krislert Samphantharak & Sam Schulhofer-Wohl, 2011. "Heterogeneity and risk sharing in village economies," Working Papers 683, Federal Reserve Bank of Minneapolis.
- Pierre-Andre Chiappori & Krislert Samphantharak & Sam Schulhofer-Wohl & Robert Townsend, 2013. "Heterogeneity and risk sharking in village economies," Staff Report 483, Federal Reserve Bank of Minneapolis.
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"The equity premium: A puzzle,"
Journal of Monetary Economics,
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- Breeden, Douglas T., 1979. "An intertemporal asset pricing model with stochastic consumption and investment opportunities," Journal of Financial Economics, Elsevier, vol. 7(3), pages 265-296, September.
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