Risk and time preferences: linking experimental and household survey data from Vietnam

Tanaka, Tomomi, Camerer, Colin F. and Nguyen, Quang ORCID: https://orcid.org/0000-0002-2999-194X (2010) Risk and time preferences: linking experimental and household survey data from Vietnam. American Economic Review, 100 (1) . pp. 557-571. ISSN 0002-8282 [Article] (doi:10.1257/aer.100.1.557)

PDF - Published version (with publisher's formatting) Restricted to Repository staff and depositor only Download (354kB) | Request a copy

Abstract

We conducted experiments in Vietnamese villages to determine the predictors of risk and time preferences. In villages with higher mean income, people are less loss-averse and more patient. Household income is correlated with patience but not with risk. We expand measurements of risk and time preferences beyond expected utility and exponential discounting, replacing those models with prospect theory and a three-parameter hyperbolic discounting model. Comparable risk parameter estimates have been found for Chinese farmers, using our method.

Actions (login required)

View Item

Statistics

DownloadsShow export options

Export as CSVXMLJSON

Activity Overview

6 month trend

16Downloads

6 month trend

406Hits

Additional statistics are available via IRStats2.