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Experimentos de campo en economía: preferencias en relación al riesgo y demanda por contratos intertemporales en el Perú
[Field experiments in Economics: Risk preferences and demand for intertemporal contracts in Peru]

  • Galarza, Francisco

This article looks at the determinants of the choice of productive projects involving intertemporal contracts in rural Peru. In a setting where the formal education is limited, the successful launching of new financial instruments may be affected by the lack of proper understanding of their main features, as well as judgment biases. We find that education, a source of judgment bias, and (weakly) risk aversion, affect such a project choice. In contrast, wealth does not appear to play a role in explaining project choice.

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File URL: https://mpra.ub.uni-muenchen.de/30205/1/MPRA_paper_30205.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 30205.

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Date of creation: 2010
Date of revision: 2010
Publication status: Published in Revista Apuntes 66 (2010): pp. 2-31
Handle: RePEc:pra:mprapa:30205
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  1. Glenn W. Harrison & Morten I. Lau & E. Elisabet Rutström, 2007. "Estimating Risk Attitudes in Denmark: A Field Experiment," Scandinavian Journal of Economics, Wiley Blackwell, vol. 109(2), pages 341-368, 06.
  2. Michael Carter & Christopher Barrett, 2006. "The economics of poverty traps and persistent poverty: An asset-based approach," Journal of Development Studies, Taylor & Francis Journals, vol. 42(2), pages 178-199.
  3. Petia Topalova & Shawn Cole & Xavier Gene & Jeremy Tobacman & Robert Townsend & James Vickery, 2011. "Barriers to Household Risk Management: Evidence from India," Working Papers id:4293, eSocialSciences.
  4. Jonathan Morduch, 1995. "Income Smoothing and Consumption Smoothing," Journal of Economic Perspectives, American Economic Association, vol. 9(3), pages 103-114, Summer.
  5. Tversky, Amos & Thaler, Richard H, 1990. "Anomalies: Preference Reversals," Journal of Economic Perspectives, American Economic Association, vol. 4(2), pages 201-11, Spring.
  6. Theo Offerman & Joep Sonnemans, 2004. "What's Causing Overreaction? An Experimental Investigation of Recency and the Hot-hand Effect," Scandinavian Journal of Economics, Wiley Blackwell, vol. 106(3), pages 533-554, October.
  7. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
  8. Galarza, Francisco B. & Carter, Michael R., 2010. "Risk Preferences and Demand for Insurance in Peru: A Field Experiment," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61871, Agricultural and Applied Economics Association.
  9. John List & David Reiley, 2008. "Field experiments," Artefactual Field Experiments 00091, The Field Experiments Website.
  10. Davis, Douglas D. & Holt, Charles a., 1993. "Experimental economics: Methods, problems and promise," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 8(2), pages 179-212.
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