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Estimating Risk Attitudes in Denmark: A Field Experiment

Lookup NU author(s): Professor Morten Lau

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Abstract

We estimate individual risk attitudes using controlled experiments in the field in Denmark. The experiments were carried out across Denmark using a representative sample of 253 people between 19 and 75 years of age. Risk attitudes are estimated for various individuals differentiated by socio-demographic characteristics. Our results indicate that the average Dane is risk averse, and that risk neutrality is an inappropriate assumption to apply. We also find that risk attitudes vary significantly with respect to several important socio-demographic variables such as age and education. However, we do not find any effect of sex on risk attitudes.

Publication metadata

Author(s): Harrison GW, Lau MI, Rutström EE

Publication type: Article

Publication status: Published

Journal: Scandinavian Journal of Economics

Year: 2007

Volume: 109

Issue: 2

Pages: 341-368

ISSN (print): 0347-0520

ISSN (electronic): 1467-9442

Publisher: Wiley-Blackwell Publishing Ltd.

URL: http://dx.doi.org/10.1111/j.1467-9442.2007.00496.x

DOI: 10.1111/j.1467-9442.2007.00496.x

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