SEARCH

SEARCH BY CITATION

References

  • Arena, M. (2008) Does insurance market promote economic growth? A cross-country study for industrialized and developing countries. Journal of Risk and Insurance 75(4): 921946.
  • Arrow, K.J. (1965) Aspects of the Theory of Risk Bearing. Helsinki: Academic Publishers.
  • Bajtelsmit, V. and Bernasek, A. (1996) Why do women invest differently than men? Financial Counseling and Planning 7(1): 110.
  • Bajtelsmit, V.L. and Bernasek, A. (2001) Risk preferences and the investment decisions of older Americans. AARP Working Papers Series, No 2001-11.
  • Baldwin, R.B. (1971) Determinants of the commodity structure of the US trade. American Economic Review 61(1): 126146.
  • Bar-Shira, Z., Just, R.E. and Zilberman, D. (1997) Estimation of farmers risk attitude: an econometric approach. Agricultural Economics 17(2–3): 211222.
  • Barsky, R.B., Juster, T.F., Kimball, M.S. and Shapiro, M.D. (1997) Preference parameters and behavioral heterogeneity: an experimental approach in the health and retirement study. The Quarterly Journal of Economics 112(2): 537579.
  • Bayer, P.J., Bernheim, B.D. and Scholz, J.K. (2009) The effects of financial education in the workplace: evidence from a survey of employers. Economic Inquiry 47(4): 605624. [This paper has been quoted many times in the literature as NBER Working paper no w5655-1996.]
  • Beck, T. and Webb, I. (2003) Economic, demographic, and institutional determinants of life insurance consumption across countries. World Bank Economic Review 17(1): 5188.
  • Bellante, D. and Green, C.A. (2004) Relative risk aversion among the elderly. Review of Financial Economics 13(3): 269281.
  • Bellante, D. and Saba, R. (1986) Human capital and life-cycle effects on risk aversion. Journal of Financial Research 9(1): 4151.
  • Belzil, C. and Hansen, J. (2002) Unobserved ability and the return to schooling. Econometrica 70(5): 20752091.
  • Belzil, C. and Hansen, J. (2004) Earnings dispersion, risk aversion and education. Research in Labor Economics 23: 335358.
  • Belzil, C. and Leonardi, M. (2007) Can risk aversion explain schooling attainments? Evidence from Italy. Labour Economics 14(6): 957970.
  • Bernheim, B.D. (1991) How strong are bequest motives? Evidence based on estimates of the demand for life insurance and annuities. Journal of Political Economy 99(5): 899927.
  • Binswanger, H. (1981) Attitudes towards risk: Theoretical implications of an experiment in rural India. Economic Journal 91(364): 867889.
  • Blake, D. (1996) Efficiency, risk aversion and portfolio insurance: an analysis of financial asset portfolios held by investors in the United Kingdom. Economic Journal 106(438): 11751192.
  • Boudon, R. (1974) Education, Opportunity, and Social Inequality: Changing Prospects in Western Society. New York: Wiley and Sons.
  • Bourdieu, P. (1984) Distinction: A Social Critique of the Judgment of Taste. London: Routledge.
  • Brav, A., Constantinides, G.M. and Geczy, C.C. (2002) Asset pricing with heterogeneous consumers and limited participation: empirical evidence. Journal of Political Economy 110(4): 793824.
  • Breen, R. (1999) Beliefs, rational choice and Bayesian learning. Rationality and Society 11(4): 463479.
  • Breen, R. and Goldthorpe, J.H. (1997) Explaining educational differentials: towards a formal rational action theory. Rationality and Society 9(3): 275305.
  • Brodaty, T., Gary-Bobo, R.J. and Prieto, A. (2007) Risk Aversion and Human Capital Investment: A Structural Econometric Model. London: Center for Economic Policy Research (CEPR) Discussion Paper no. 5694.
  • Brown, S., Ortiz, A. and Taylor, K. (2006) Educational Attainment and Risk Preference.Sheffield Economic Research Paper Series no. 2006002, University of Sheffield, UK.
  • Browne, M.J. and Kim, K. (1993) An international analysis of life insurance demand. The Journal of Risk and Insurance 60(4): 616634.
  • Browne, M.J., Chung, J. and Frees, E.W. (2000) International property-liability insurance consumption. Journal of Risk and Insurance 67(1): 7390.
  • Brunello, G. (2002) Absolute risk aversion and the returns to education. The Economics of Education Review 21(6): 635640.
  • Cameron, S. and Heckman, J. (1998) Life cycle schooling and dynamic selection bias: models and evidence for five cohorts of American males. Journal of Political Economy 106(2): 262333.
  • Campbell, R.A. (1980) The demand for life insurance: an application of the economics of uncertainty. Journal of Finance 35(5): 11551172.
  • Charness, F. and Gneezy, U. (2012) Strong evidence for gender differences in risk taking. Journal of Economic Behavior and Organization 83(1): 5058.
  • Chetty, R. (2006) A new method of estimating risk aversion. American Economic Review 96(5): 18211834.
  • Clark, R.L., Morrill, M.S. and Allen, S.G. (2012) The role of financial literacy in determining retirement plans. Economic Inquiry 50(4): 851866.
  • Cleeton, D.L. and Zellner, B.B. (1993) Income, risk aversion and the demand for insurance. Southern Economic Journal 60(1): 146156.
  • Cohn, R.A., Lewellen, W.G., Lease, R.C. and Schlarbaum, G.G. (1975) Individual investor risk aversion and investment portfolio composition. Journal of Finance 30(2): 605620.
  • Croson, R. and Gneezy, U. (2009) Gender differences in preferences. Journal of Economic Literature 47(2): 448474.
  • Curak, M., Loncar, S. and Poposki, K. (2009) Insurance sector development and economic growth in transition countries. International Research Journal of Finance and Economics 34(1): 2941.
  • Davies, R., Heinesen, E. and Holm, A. (2002) The relative risk aversion hypothesis of educational choice. Journal of Population Economics 15(4): 683713.
  • Deck, C.A. and Schlesinger, H. (2010) Exploring higher order risk effects. Review of Economics Studies 77(4): 14031420.
  • Doherty, N.A. and Schlesinger, H. (1983) Optimal insurance in incomplete markets. Journal of Political Economy 91(6): 10451054.
  • Dohmen, T., Falk, A., Huffman, D., Sunde, U., Schupp, J. and Wagner, G.G. (2011)Individual risk attitudes: measurement, determinants and behavioral consequences. Journal of the European Economic Association 9(3): 522550.
  • Dybvig, P. and Polemarchakis, H. (1981) Recovering cardinal utility. Review of Economic Studies 48(1): 159166.
  • Dynan, K.E. (1993) How prudent are consumers? Journal of Political Economy 101(6): 11041113.
  • Ebert, S. and Wiesen, D. (2011) Testing for prudence and skewness seeking. Management Science 57(7): 13341349.
  • Eeckhoudt, L. (2012) Beyond risk aversion: why, how and what's next? Geneva Risk and Insurance Review 37(2): 141155.
  • Eisenhauer, J.G. (2000) Estimating prudence. Eastern Economic Journal 24(6): 379392.
  • Eisenhauer, J.G. and Halek, M. (1999) Prudence, risk aversion, and the demand for life insurance. Applied Economics Letters 6(4): 239242.
  • Eisenhauer, J.G. and Ventura, L. (2003) Survey measures of risk aversion and prudence. Applied Economics 35(13): 14771484.
  • Ehrlich, I. and Becker, G. (1972) Market insurance, self-insurance, and self protection. Journal of Political Economy 80(4): 623648.
  • Esho, N., Ward, A.D. and Zurbruegg, R. (2004) Law and the determinants of property-casualty insurance. Journal of Risk and Insurance 71(2): 265283.
  • Ferson, W. (1983) Expectations of real interest rates and aggregate consumption: empirical tests. Journal of Financial and Quantitative Analysis 18(4): 477497.
  • Feyen, E., Lester, R. and Rocha, R. (2013) What drives the development of the insurance sector? An empirical analysis based on a panel of developed and developing countries. Journal of Financial Perspectives 1(1):123.
  • Fisher, S. (1973) A life cycle model of life insurance purchases. International Economic Review 14(1): 132152.
  • Folloni, G. and Vittadini, G. (2010) Human capital measurement: a survey. Journal of Economic Surveys 24(2): 248279.
  • Friend, I. and Blume, M.E. (1975) The demand for risky assets. American Economic Review 65(5): 900922.
  • Gambetta, D. (1987) Were They Pushed or Did They Jump? Individual Decision Mechanisms in Education. Cambridge: Cambridge University Press.
  • Goldthorpe, J.H. (1996) Class analysis and the reorientation of class theory: the case of persisting differentials in educational attainment. British Journal of Sociology 47(3): 481505.
  • Gollier, C. (2001) The Economics of Risk and Time. Cambridge, MA: MIT Press.
  • Guiso, L. and Paiella, M. (2006) The role of risk aversion in predicting individual behavior. In P.A. Chiappori and C. Gollier (eds.), Insurance: Theoretical Analysis and Policy Implications. Cambridge, MA: MIT Press.
  • Guiso, L. and Paiella, M. (2008) Risk aversion, wealth and background risk. Journal of the European Economic Association 6(6): 11091150. [This paper has been quoted many times in the literature as a Center for Economic Policy Research (CEPR) Discussion Paper 2001-2728.]
  • Haiss, P. and Sümegi, K. (2008) The relationship between insurance and economic growth in Europe: a theoretical and empirical analysis. Empirica 35(4): 405431.
  • Hakansson, N.H. (1969) Optimal investment and consumption strategies under risk, and uncertain lifetime, and insurance. International Economic Review 10(3): 443466.
  • Halek, M. and Eisenhauer, J.G. (2001) Demography of risk aversion. Journal of Risk and Insurance 68(1): 124.
  • Han, L., Li, D., Moshirian, F. and Tian, Y. (2010) Insurance development and economic growth. Geneva Papers on Risk and Insurance 35(1): 183199.
  • Hansen, L.P. and Singleton, K.J. (1982) Generalized instrumental variables estimation of nonlinear rational expectations models. Econometrica 50(5): 12691286.
  • Hansen, L.P. and Singleton, K.J. (1983) Stochastic consumption, risk aversion, and the temporal behavior of assets returns. Journal of Political Economy 91(2): 249265.
  • Harrison, G.W., Lau, M.I. and Rutstrom, E.E. (2007) Estimating risk attitudes in Denmark: a field experiment. Scandinavian Journal of Economics 109(2): 341368.
  • Hartlaub, V. and Schneider, T. (2012) Educational choice and risk aversion: how important is structural vs. individual risk aversion? SOEP papers, DIW Berlin, Working paper no 433.
  • Hersch, J. (1996) Smoking, seat belts, and other risky consumer decisions: differences by gender and race. Managerial and Decision Economics 17(5): 471481.
  • Hersch, J. (1998) Compensating differentials for gender-specific job injury risks. American Economic Review 88(3): 598607.
  • Hofstede, G. (1995) Insurance as a product of national values. Geneva Papers on Risk and Insurance 77(20): 423429.
  • Holm, A. and Jaeger, M.M. (2008) Does relative risk aversion explain educational inequality? A dynamic choice approach. Research in Social Stratification and Mobility 26(3): 199220.
  • Holt, C.A. and Laury, S.K. (2002) Risk aversion and incentive effects. American Economic Review 92(5): 16441655.
  • Hwang, T. and Gao, S. (2003) The determinants of the demand for life insurance in an emerging economy – the case of China. Managerial Finance 29(5/6): 8296.
  • Hwang, T. and Greenford, B. (2005) A cross-section analysis of the determinants of life insurance consumption in mainland China, Hong-Kong and Taiwan. Risk Management and Insurance Review 8(1): 103125.
  • Jaeger, M.M. and Holm, A. (2012) Conformists or rebels? Relative risk aversion, educational decisions and social class reproduction. Rationality and Society 24(2): 221253.
  • Jianakoplos, N.A. and Bernasek, A. (1998) Are women more risk averse? Economic Inquiry 36(4): 620630.
  • Kagel, J.H. and Roth, A.E. (eds.). (1995) The Handbook of Experimental Economics. Princeton, NJ: Princeton University Press.
  • Kapteyn, A. and Teppa, F. (2011) Subjective measures of risk aversion, fixed costs, and portfolio choice. Journal of Economic Psychology 32(4): 564580.
  • Karni, E. and Zilcha, I. (1985) Uncertain lifetime, risk aversion and life insurance. Scandinavian Actuarial Journal 68(2): 109123.
  • Karni, E. and Zilcha, I. (1986) Risk aversion in the theory of life insurance: the Fisherian model. Journal of Risk and Insurance 53(4): 606620.
  • Keane, M.P. and Wolpin, K.I. (2001) The effect of parental transfers and borrowing transfers on educational attainment. International Economic Review 42(4): 10511103.
  • Lease, R.C., Lewellen, W.G. and Schlarbaum, G.G. (1974) The individual investor: attributes and attitudes. Journal of Finance 29(2): 413433.
  • Lee, C.C. and Chiu, Y.B. (2012) The impact of real income on insurance premiums: evidence from panel data. International Review of Economics and Finance 21(1): 246260.
  • Levin, I.P., Snyder, M.A. and Chapman, D.P. (1988) The interaction of experiential and situational factors and gender in a simulated risky decision-making task. Journal of Psychology 122(2): 173181.
  • Lewellen, W.G., Lease, R.C. and Schlarbaum, G.G. (1977) Patterns of investment strategy and behavior among individual investors. Journal of Business 50(3): 296333.
  • Lewis, F.D. (1989) Dependants and the demand for life insurance. American Economic Review 79(3): 452467.
  • Li, D., Moshirian, F., Nguyen, P. and Wee, T. (2007) The demand for life insurance in OECD countries. Journal of Risk and Insurance 74(3): 637652.
  • Lin, F-T. (2009) Does the risk aversion vary with different background risk of households? International Research Journal of Finance and economics 34: 6982.
  • Mankiw, G., Romer, D. and Weil, D. (1992) A contribution to the empirics of economic growth. Quarterly Journal of Economics 106(2): 407437.
  • Mankiw, N.G. and Zeldes, S.P. (1991) The consumption of stock holders and nonstockholders. Journal of Financial economics 29(1): 97112.
  • Merrigan, P. and Normandin, M. (1996) Precautionary saving motives: an assessment from UK time series of cross-sections. Economic Journal 106(438): 11931208.
  • Meyer, D.J. and Meyer, J. (2005) Relative risk aversion: what do we know? Journal of Risk and Uncertainty 31(3): 243262.
  • Meyer, D.J. and Meyer, J. (2006) Measuring Risk Aversion. Hanover, MA: Now Publishers, Inc.
  • Millo, G. and Carmeci, G. (2012) A sub-regional panel data analysis of life insurance consumption in Italy, Working Paper, Research Department, Generali S.A., Trieste.
  • Morgan, S.L. (1998) Adolescent educational expectations: rationalized, fantasized, or both? Rationality and Society 10(2): 131162.
  • Morin, R.A. and Suarez, F. (1983) Risk aversion revisited. Journal of Finance 38(4): 12011216.
  • Mossin, J. (1968) Aspect of rational insurance purchasing. Journal of Political Economy 76: 553568.
  • Outreville, J.F. (1990) The Economic Significance of Insurance Markets in Developing Countries, Journal of Risk and Insurance, 18(3): 487498.
  • Outreville, J.F. (1996) Life insurance in developing countries. Journal of Risk and Insurance 63(2): 263278.
  • Outreville, J.F. (2013) The relationship between insurance and economic development: 85 empirical papers for a review of the literature. Risk Management and Insurance Review 16(1): 71122.
  • Outreville, J.F. and Szpiro, G.G. (1998) Relative risk aversion and human resources development: an empirical note. Working Paper, Geneva, United Nations, unpublished.
  • Palacios-Huerta, I. (2006) The human capital premium puzzle. Department of Economics, Brown University, Working Paper.
  • Palsson, A. (1996) Does the degree of relative risk aversion vary with household characteristics? Journal of Economic Psychology 17(6): 771787.
  • Park, S.C. and J. Lemaire (2011) The impact of culture on the demand for non-life insurance, University of Pennsylvania, Wharton School Working Paper IRM 201102.
  • Park, H., Borde, S.F. and Choi, Y. (2002) Determinants of insurance pervasiveness: a cross-national analysis. International Business Review 11(1): 7996.
  • Powell, M. and Ansic, D. (1997) Gender differences in risk behaviour in financial decision-making: an experimental analysis. Journal of Economic Psychology 18(6): 605628.
  • Pratt, J.W. (1964) Risk aversion in the small and large. Econometrica 32(1/2): 122136.
  • Ram, R. and Schultz, T. (1979) Life span, health, savings and productivity. Economic Development and Cultural Change 27(2): 399421.
  • Riley, W.B. and Chow, K.V. (1992) Asset allocation and individual risk aversion. Financial Analysts Journal 48(6): 3237.
  • Scheiber, S. and Shoven, J.B. (1997) The consequences of population aging on private pension fund saving and asset markets. In S. Schieber and J. Shoven (eds.), Public Policy Toward Pensions (pp. 219246). Cambridge: MIT Press.
  • Schlesinger, H. (1981) The optimal level of deductibility in insurance contracts. Journal of Risk and Insurance 48(3): 465481.
  • Schooley, D.K. and Worden, D.D. (1996) Risk aversion measures: comparing attitudes and asset allocation. Financial Services Review 5(2): 8799.
  • Shaw, K.L. (1996) An empirical analysis of risk aversion and income growth. Journal of Labor Economics 14(4): 626653.
  • Siegel, F.W. and Hoban, J.P. (1982) Relative risk aversion revisited. Review of Economics and Statistics 64(3): 481487.
  • Siegel, F.W. and Hoban, J.P. (1991) Measuring risk aversion: allocation, leverage, and accumulation. Journal of Financial Research, 14(1): 2735.
  • Smith, V. (1968) Optimal insurance coverage. Journal of Political Economy 76(1): 6877.
  • Szpiro, G.G. (1986) Measuring risk aversion: an alternative approach. Review of Economics and Statistics 68(1): 156159.
  • Szpiro, G.G. and Outreville, J.F. (1988) Relative risk aversion around the world. Journal of Banking and Finance 6(1): 127128.
  • Tanaka, T., Camerer, C.F. and Nguyen, Q. (2010) Risk and time preferences: linking experimental and household survey data from Vietnam. American Economic Review 100(1): 557571.
  • Truett, D.B. and Truett, L.J. (1990) The demand for life insurance in Mexico and the United States: a comparative study. Journal of Risk and Insurance 57(2): 321328.
  • UNCTAD. (2005) World Investment Report: Transnational Corporations and the Internationalization of R&D. Geneva: United Nations.
  • UNDP. (1990) Human Development Indicators. New York: United Nations.
  • Van de Werfhorst, H.G. and Hofstede, S. (2007) Cultural capital or relative risk aversion? Two mechanisms for educational inequality compared. British Journal of Sociology 58(3): 391415.
  • Van Rooij, M.C.J., Lusardi, A. and Alessie, R.J.M. (2011) Financial literacy and retirement planning in the Netherlands. Journal of Economic Psychology 32(4): 593608.
  • Viscusi, W.K. and Evans, W.N. (1990) Utility functions that depend on health status: estimates and economic implications. American Economic Review 80(3): 353374.
  • Ward, D. and Zurbruegg, R. (2002) Law, politics and life insurance consumption in Asia. Geneva Papers on Risk and Insurance 27(3): 395412.
  • Yesuf, M. and Bluffstone, R. (2009) Poverty, risk aversion, and path dependence in low income countries: evidence from Ethiopia. American Journal of Agricultural Economics 91(4): 10221037.
    Direct Link:
  • Yaari, M. (1964) On the consumer's lifetime allocation process. International Economic Review 5(3): 304317.
  • Yaari, M. (1965) Uncertain lifetime, life insurance and the theory of the consumer. Review of Economic Studies 32(2): 137150.