Are Risk Aversion and Impatience Related to Cognitive Ability?
نویسندگان
چکیده
منابع مشابه
Are Risk Aversion and Impatience Related to Cognitive Ability?
Are Risk Aversion and Impatience Related to Cognitive Ability? Is the way that people make risky choices, or tradeoffs over time, related to cognitive ability? This paper investigates whether there is a link between cognitive ability, risk aversion, and impatience, using a representative sample of the population and incentive compatible measures. We conduct choice experiments measuring risk ave...
متن کامل, Uwe Sunde Are Risk Aversion and Impatience Related
This paper investigates whether risk aversion and impatience are correlated with cognitive ability. We conduct incentive compatible choice experiments measuring risk aversion, and impatience over an annual time horizon, for a representative sample of roughly 1,000 German adults. A measure of cognitive ability is provided by two submodules of one of the most widely used IQ tests. Interviews are ...
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Recent experimental studies suggest that risk aversion is negatively related to cognitive ability. In this paper we report evidence that this relation might be spurious. We recruit a large subject pool drawn from the general Danish population for our experiment. By presenting subjects with choice tasks that vary the bias induced by random choices, we are able to generate both negative and posit...
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We investigate how stable individuals’ risk attitudes are with respect to changes in cognitive load. In a laboratory experiment using pairwise lottery choice and a within-subject design, we show that putting subjects under load via a concurrent working-memory task significantly increases their risk aversion. Subjects made significantly faster choices under load. Regardless of load, they respond...
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ژورنال
عنوان ژورنال: American Economic Review
سال: 2010
ISSN: 0002-8282
DOI: 10.1257/aer.100.3.1238