Details
| Original language | English |
|---|---|
| Pages (from-to) | 859-888 |
| Number of pages | 30 |
| Journal | Economic Development and Cultural Change |
| Volume | 61 |
| Issue number | 4 |
| Publication status | Published - Jul 2013 |
Abstract
Individual risk attitudes are a core determinant of economic behavior and have thus been under close scrutiny. The survey data were collected in 2008 as part of a larger research project on the measurement of vulnerability to poverty in rural Thailand. As the three provinces are weighted according to their population, the overall survey also provides more general information about the rural population in northeastern Thailand. When it comes to personal information, however, the survey is biased toward household heads, as they were the preferred survey participants. The self-assessment of risk attitude in our sample is significantly correlated to a variety of variables, mostly in the expected way. Some signs, however, differ from studies in advanced countries and indicate that studies in developing countries deserve attention. Regarding the family status, variables are surprising because being married and living in a larger household do not accompany higher risk aversion, and only having more dependents has the expected significant relation toward higher risk aversion.
ASJC Scopus subject areas
- Social Sciences(all)
- Development
- Economics, Econometrics and Finance(all)
- Economics and Econometrics
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In: Economic Development and Cultural Change, Vol. 61, No. 4, 07.2013, p. 859-888.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - Experimentally validated survey evidence on individual risk attitudes in rural Thailand
AU - Hardeweg, Bernd
AU - Menkhoff, Lukas
AU - Waibel, Hermann
PY - 2013/7
Y1 - 2013/7
N2 - Individual risk attitudes are a core determinant of economic behavior and have thus been under close scrutiny. The survey data were collected in 2008 as part of a larger research project on the measurement of vulnerability to poverty in rural Thailand. As the three provinces are weighted according to their population, the overall survey also provides more general information about the rural population in northeastern Thailand. When it comes to personal information, however, the survey is biased toward household heads, as they were the preferred survey participants. The self-assessment of risk attitude in our sample is significantly correlated to a variety of variables, mostly in the expected way. Some signs, however, differ from studies in advanced countries and indicate that studies in developing countries deserve attention. Regarding the family status, variables are surprising because being married and living in a larger household do not accompany higher risk aversion, and only having more dependents has the expected significant relation toward higher risk aversion.
AB - Individual risk attitudes are a core determinant of economic behavior and have thus been under close scrutiny. The survey data were collected in 2008 as part of a larger research project on the measurement of vulnerability to poverty in rural Thailand. As the three provinces are weighted according to their population, the overall survey also provides more general information about the rural population in northeastern Thailand. When it comes to personal information, however, the survey is biased toward household heads, as they were the preferred survey participants. The self-assessment of risk attitude in our sample is significantly correlated to a variety of variables, mostly in the expected way. Some signs, however, differ from studies in advanced countries and indicate that studies in developing countries deserve attention. Regarding the family status, variables are surprising because being married and living in a larger household do not accompany higher risk aversion, and only having more dependents has the expected significant relation toward higher risk aversion.
UR - http://www.scopus.com/inward/record.url?scp=84879824055&partnerID=8YFLogxK
U2 - 10.1086/670378
DO - 10.1086/670378
M3 - Article
AN - SCOPUS:84879824055
VL - 61
SP - 859
EP - 888
JO - Economic Development and Cultural Change
JF - Economic Development and Cultural Change
SN - 0013-0079
IS - 4
ER -