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PRODID:https://www.diw.de/de/diw_01.c.806339.de/veranstaltungen.html
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UID:diw_01.c.409318.de
LOCATION:Gustav-Schmoller-Raum,DIW Berlin im Quartier 110,3.3.002A,Anton-Wilhelm-Amo-Straße 58,10117 Berlin
SUMMARY:Risk attitudes, Development and Growth. 
DESCRIPTION:13:15-14:45 // Abstract: We measure risk attitudes across 28 different countries in a controlled, fully incentivized experiment. The results contribute to building bridges between different strands of literature. First and foremost, we show that risk attitudes vary considerably between countries. For typical experimental stakes, risk seeking or neutrality is just as frequent as risk aversion. Looking at a cross-section of countries at different development levels, we find a very strong and highly significant positive correlation between median risk aversion and income per capita. This gives rise to a paradox, seen that within-country risk aversion has been found to be negatively associated with income. The paradox is resolved by recurring to Unified Growth Theory. Our results are consistent with the prediction that risk attitudes act as a transmission mechanism for growth by encouraging entrepreneurship. Implications for different accounts of comparative development are discussed.  
DTSTART;VALUE=DATE:20121012
DTEND;VALUE=DATE:20121012
DTSTAMP:20121007T220000Z
URL:https://www.diw.de/de/diw_01.c.409318.de/veranstaltungen/risk_attitudes_development_and_growth.html
ORGANIZER;CN=Karsten Neuhoff:mailto:kneuhoff@diw.de
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