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Risk-taking middle-borns: A study on birth-order and risk preferences

Author

Listed:
  • Lampi, Elina

    () (Department of Economics, School of Business, Economics and Law, Göteborg University)

  • Nordblom, Katarina

    () (Department of Economics, School of Business, Economics and Law, Göteborg University)

Abstract

We analyze the impacts of birth order and presence/absence of siblings on risk preferences with respect to economic, health/safety, and sport/lifestyle related risks. We study both the answer to a hypothetical lottery question and stated risky behavior and find that middle-borns are consistently less risk averse than others irrespective of the type of risk. Moreover, the answer to the lottery question is strongly correlated with economic and sport/lifestyle related risky behavior.

Suggested Citation

  • Lampi, Elina & Nordblom, Katarina, 2010. "Risk-taking middle-borns: A study on birth-order and risk preferences," Working Papers in Economics 438, University of Gothenburg, Department of Economics.
  • Handle: RePEc:hhs:gunwpe:0438
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    File URL: http://hdl.handle.net/2077/22177
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    References listed on IDEAS

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    1. Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde, 2012. "The Intergenerational Transmission of Risk and Trust Attitudes," Review of Economic Studies, Oxford University Press, vol. 79(2), pages 645-677.
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    3. Anderson, Lisa R. & Mellor, Jennifer M., 2008. "Predicting health behaviors with an experimental measure of risk preference," Journal of Health Economics, Elsevier, vol. 27(5), pages 1260-1274, September.
    4. Camerer, Colin F & Hogarth, Robin M, 1999. "The Effects of Financial Incentives in Experiments: A Review and Capital-Labor-Production Framework," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 7-42, December.
    5. Eckel, Catherine C. & Grossman, Philip J., 2008. "Men, Women and Risk Aversion: Experimental Evidence," Handbook of Experimental Economics Results, Elsevier.
    6. Hartog, Joop & Ferrer-i-Carbonell, Ada & Jonker, Nicole, 2002. "Linking Measured Risk Aversion to Individual Characteristics," Kyklos, Wiley Blackwell, vol. 55(1), pages 3-26.
    7. Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, vol. 92(5), pages 1644-1655, December.
    8. Warneryd, Karl-Erik, 1996. "Risk attitudes and risky behavior," Journal of Economic Psychology, Elsevier, vol. 17(6), pages 749-770, December.
    9. Brad M. Barber & Terrance Odean, 2001. "Boys will be Boys: Gender, Overconfidence, and Common Stock Investment," The Quarterly Journal of Economics, Oxford University Press, vol. 116(1), pages 261-292.
    10. Donkers, Bas & Melenberg, Bertrand & Van Soest, Arthur, 2001. "Estimating Risk Attitudes Using Lotteries: A Large Sample Approach," Journal of Risk and Uncertainty, Springer, vol. 22(2), pages 165-195, March.
    11. Laura M. Argys & Daniel I. Rees & Susan L. Averett & Benjama Witoonchart, 2006. "Birth Order and Risky Adolescent Behavior," Economic Inquiry, Western Economic Association International, vol. 44(2), pages 215-233, April.
    12. Powell, Melanie & Ansic, David, 1997. "Gender differences in risk behaviour in financial decision-making: An experimental analysis," Journal of Economic Psychology, Elsevier, vol. 18(6), pages 605-628, November.
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    More about this item

    Keywords

    siblings; birth-order; middle-born; different risks; lottery;

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other
    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General

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